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Information About Singapore Offshore Companies

There is no offshore company regime in Singapore but that fact does not limit the business potential of a Singapore company. Singapore offshore companies are catalogued as non-resident companies that are based, used and managed outside of Singapore.

ompany that is registered in Singapore and allowed to carry out operations outside of Singapore. While there is no offshore company legislation in Singapore, the Singapore Private Limited Company has striking similarities to traditional offshore companies found in tax havens around the world.

Singapore is a well known financial centre and offers offshore banking to offshore companies as well as to private individuals. An advantage to incorporating in Singapore is that a Singapore offshore company is not limited to set up a specific type of corporate structure for offshore purposes. A variety of legal Singapore business entities such as companies limited by guarantee (Ltd.), foreign company branches, foreign companies and private limited companies (Pte Ltd.) can be incorporated and used as a Singapore offshore company. If you looking for a good alternative, then Belize company will be a good choice.

The type of Singapore Company used, is a matter of personal and business preference and suitability given the circumstances and objectives. For example, an individual who wants to setup a sole owner Singapore company with total control, easy setup will likely choose a sole proprietorship. On the other hand, two friends may go for a partnership, which in Singapore may take the form of a general partnership, limited partnership or limited liability partnership. Due to the legal framework of these Singapore companies they are generally not recognized as companies (in Singapore included) and are better used by Singapore based residents and activities, not as Singapore offshore companies.

The process for Singapore offshore company incorporation takes a little less than a working week to complete if all requests are met and the process of offshore incorporation is followed closely. A non resident subscriber for a Singapore company should confer with with a local offshore company formation agent for Singapore offshore company registration. For registration of a Singapore offshore company a name must be chosen and submitted to the Registrar of Companies for approval which takes a few days to work though out. A Memorandum of Association and Articles of Association are needed for Singapore offshore company incorporation.

Singapore offshore companies require one shareholder and one company director. A Singapore offshore company should have at least of one local company director however the shareholders of Singapore offshore companies can be of any nationality. A Singapore company can have a corporation or individual as shareholders and directors. Information relating to Singapore Company shareholders is organized as public records in Singapore, and this information is freely available to the public. For more privacy of owners, Singapore companies can be set up with nominee shareholders. All Singapore offshore companies should have a Secretary in Singapore.

Singapore offshore companies can set up offshore bank accounts in Singapore or any other place of choice. Singapore offshore companies are often used as part of an asset protection schemes. Singapore companies are also used with other offshore entities or as a single unit to protect assets from third party risks.

Singapore is one of the preferred jurisdictions for offshore company formation as a Singapore company can be used for tax planning. The jurisdiction of Singapore is not a conventional tax haven but does provide a comparable setting for company formation and offshore banking. Singapore is one of the world’s leading nations for financial services. Singapore has a steady economy which makes it a more preferred authority for offshore banking. Singapore has strict laws governing Singapore offshore company formation and the Singapore offshore company is a well ordered offshore company which can be used for many trade and investment functions.

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