Asiabizservices Speaks On Singapore Offshore Company Incorporation Advantages
A company that helps foreign individual, entrepreneur or a business professional who wants to setup a Singapore company as an individual.
by Donald Wheeler Monday, December 06, 2010
In a conversation with Asiabizservices, an offshore company is primarily characterized by protection of assets and mitigation of taxes legally. Some of the companies that incorporate an offshore company include those that offer professional services, manpower and pooling, and companies such as property owning, asset protection, shipping, holding, investment, trading, and intellectual property and royalty.
“A company incorporated in Singapore can be resident or non-resident,” a representative of Asiabizservices commences his discussion, referring to non-resident as a company managed and controlled outside Singapore and which, the representative continues, “there shall be 2 foreign directors as there is a mandatory local resident director.”
Under the Singapore Companies Act, Singapore offshore company incorporation incorporation can be registered as private limited and are given tax exemptions on its first accumulated profits of S$100,000 and 50% off on its next S$200,000 for 3 consecutive years following its incorporation.
“On its fourth year of assessments, companies are levied with 8.5% corporate tax rate for profits accrued from S$10,001 to S$300,000 and 17% for profits earned above S$300,000,” continues Asiabizservices.
A Singapore offshore company may also qualified to avail the Double Taxation treaties.
It is also clothed with a legal personality. Hence, the company can be named as the legal owner of corporate assets and revenues deposited in corporate bank accounts. During losses and erroneous decisions, it is the company that is sued, protecting the shareholders and directors.
Being a major investment center in Asia and beyond, the government of Singapore provides financial assistance through various programs to assist local and foreign companies meet their financial requirements and achieve business objectives.
Also an added advantage to an offshore company is the low cost of operation and maintenance. In Singapore, such feature is apparent. Offshore companies incorporated in Singapore find it cost-efficient to engage the professional services of company for requirement compliance such as accounting and bookkeeping.
“They can even hire receptionists, secretaries, and IT providers from another company,” Asiabizsetup elaborates further, “for statutory compliance, the government likewise allows companies to engage nominee director and nominee agents services of independent companies.”
Singapore remains to be the best investment destination in Asia Pacific. Investors flock to the city-state to do a business, whether offshore or onshore.
Asiabizservices, on the other hand, provides accounting, bookkeeping, payroll preparation, and secretarial services. It has helped hundreds of clients form a company by lending its nominee director or nominee agent services.
About the Publisher:
For many years, Asiabizservices has served the community by taking charge of Singapore company registration, incorporation of a company, processing the necessary working visas of entrepreneurs or employees, and providing services such as accounting, secretarial and statutory compliance with certain requirements.
AsiaBizservices is a company that provides Singapore company incorporation services to local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation law, Singapore accounting services and book keeping requirements, and other compliance matters stated under the Singapore law.
For more information:
address: 120 Telok Ayer Street Singapore 068589
Singapore Company Formation Service, We provide company registration,incorporation, immigration, accounting and taxation services to entrepreneurs and businesses worldwide.
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