Advantages of Singapore as an Offshore Jurisdiction
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Advantages of Singapore as an Offshore Jurisdiction

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Provides some key advantages that a Singapore offshore company can provide for entrepreneurs in obtaining their business objectives.

Provides some key advantages that a Singapore offshore company can provide for entrepreneurs in obtaining their business objectives.

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3 Incorporações 173

http://www.myoffshorebroker.com 154
http://www.scoop.it 18
http://www.onlinetradingplatforms.co 1

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    Advantages of Singapore as an Offshore Jurisdiction Advantages of Singapore as an Offshore Jurisdiction Document Transcript

    •        Advantages  of  Singapore  as  an  Offshore  Jurisdiction  Experts  agree  that  finding  suitable  instruments  for  investment  holding  has  been  a  long  and  on-­‐  going  struggle.  To  make  matters  worse,  recent  world  economic  events  have  lead  many  global  financial  institutions  to  take  more  stringent  and  preventive  measures  to  screen  the  simple  acceptance  of  funds  from  undesirable  sources.  Internal  policies  implemented  by  many  banks  now  stand  as  obstacles  for  offshore  companies  that  wish  to  open  new  bank  accounts.  As  a  result,  opening  new  offshore  bank  accounts  can  be  an  arduous  process.  A  viable  investment  holding  option  would  be  to  make  Singapore  an  offshore  jurisdiction  by  incorporating  a  company  in  Singapore.  A  Singapore  company  can  be  viewed  on  par  or  even  better  than  many  other  offshore  companies.  Services  and  products  offered  through  a  Singapore  offshore  international  centre  provide  clients  with  wealth  maximization  and  tax  minimization  benefits.  Many  clients  believe  that  it  is  impossible  for  Singapore  to  achieve  the  same  results  as  other  well  known  offshore  jurisdictions,  however  this  is  a  misconception.  Following  are  some  key  considerations  to  support  choosing  Singapore  as  an  offshore  jurisdiction.  1.  Incorporate  Offshore  for  Substantial  Tax  Savings  One  of  the  attractive  features  of  going  offshore  to  Singapore  is  that  it  has  minimal  tax.  Recent  developments  in  tax  and  corporate  law  in  Singapore  have  made  it  easy  to  use  a  Singapore  incorporated  company  to  achieve  the  same  results  as  that  of  a  traditional  tax  haven  company.  Some  of  the  tax  and  corporate  law  changes  in  Singapore  include:  1. Singapore  has  abolished  the  two-­‐tier  tax  system.  Income  of  a  corporation  is  only  taxed  once  at  the  corporate  level.  Dividend  payments  by  a  Singapore  company  are  not  taxable  to  the  recipients.  2. Income  that  is  sourced  from  outside  of  Singapore  is  not  taxable  in  Singapore.  3. Capital  gains  are  not  taxable  in  Singapore.  4. The  corporate  tax  rate  is  17%.    5. A  company  (of  not  more  than  20  individual  shareholders)  with  annual  turnover  of  S$2.5  million  or  less  (revised  to  S$5  million  after  one  year)  is  exempt  from  annual  statutory  audits.    6. Singapore  has  a  wide  network  of  tax  treaties.  In  certain  cases,  tax  treaties  can  be  used  for  the  reduction  of  taxes  in  treaty  countries  where  investments  are  held.  www.healyconsultants.com  
    •        In  summary  Singapore  offers  many  benefits  for  an  offshore  company.    Individuals  can  open  bank  accounts  with  ease  and  hence  carry  on  with  financial  transactions  associated  with  the  company  without  facing  any  problems.  Singapore  is  regarded  as  a  jurisdiction  of  a  "premium  stature"  when  compared  to  other  offshore  jurisdictions.  This  "premium  stature"  gives  the  investor  a  competitive  advantage  with  regards  to  the  clients,  potential  investors  and  business  authorities.    2.  Government  incentives  to  support  incorporation  in  Singapore  The  Singapore  government  plays  a  keen  and  active  role  in  developing  a  conducive  environment  for  enterprise  growth,  nurturing  innovative  startups,  developing  key  industry  clusters,  and  growing  dynamic  and  innovative  growth-­‐oriented  enterprises.  The  government  has  implemented  numerous  schemes  in  line  with  developing  and  upgrading  infrastructure  and  creating  new  market  opportunities.  For  example  the  SME  Management  Action  for  Results  (SMART)  initiative  provides  Singapore  based  incorporated  companies  with  consultancy  advice  and  monetary  support  to  develop  enhanced  management  systems  and  processes.    The  government  provides  assistance  schemes  in  attaining  an  Employment  Pass  for  foreign  Entrepreneurs  who  are  ready  to  incorporate  a  company  in  Singapore.  They  also  provide  Entrepreneurship  Training  for  professionals,  managers,  executives  and  technicians.  To  alleviate  the  financial  burden,  the  government  has  financing  schemes  to  support  the  growth  of  SME’s.  The  Bridging  Loan  Program  (BLP)  provides  loans  of  up  to  $5  million  for  local  and  foreign  SMEs  with  a  minimum  5%  interest  rate  for  loan  tenure  of  4  years  and  below.    The  Business  Angels  Funds  provides  Singapore-­‐based  companies  a  co-­‐investment  financing  option  from  pre-­‐  approved  angel  groups,  up  to  $1.5  million  in  matching  capital.  SPRING  Singapore  is  a  government  department  tasked  with  growing  innovative  companies  and  fostering  a  competitive  SME  sector.  It  is  apparent  from  the  numerous  government  initiatives  that  Singapore  provides  a  potentially  profitable  platform  for  company  incorporation.  The  assistance  and  financial  schemes  help  to  create  an  environment  conducive  for  company  set  up.  Entrepreneurs  who  fulfill  the  stipulated  criteria  can  easily  attain  government  assistance  to  set  up  and  grow  their  business  operation.      www.healyconsultants.com  
    •        Healy  Consultants  is  a  leading  corporate  services  firm  that  assists  entrepreneurs  and  investors  with  setting  up  a  Singapore  offshore  company  and  other  corporate  services.  The  firm  provides  a  range  of  services  to  assist  the  success  of  the  Singapore  offshore  company,  including  opening  Singapore  corporate  bank  accounts.  More  information  on  company  incorporation  can  be  found  by  visiting  http://www.healyconsultants.com.            www.healyconsultants.com