SINGAPORE

Singapore has a highly developed free-market economy. Singapore’s political stability, pro-business policy, well developed infra structure and simplified tax structure have helped it achieve the place as growing open-economy. It is a country with no foreign debt, high government revenue and a consistently positive surplus. The combined value of exports and imports equals 318 percent of GDP. The government has steadily been opening the domestic market to foreign banks, and more than 95 percent of banks operating in Singapore are now foreign owned.

 

The Singapore dollar is the twelfth most traded currency in the world by value, as of 2016.   Apart from its use in Singapore, the Singapore dollar is also accepted as customary tender in Brunei. Singapore is ranked 2 among 190 economies in the ease of doing business, according to the latest World Bank annual ratings. The rank of Singapore remained unchanged at 2 in 2017 from 2 in 2016. The friendliness and warmth of Asia, blended together with a vibrant modern lifestyle, makes Singapore a very good place to live, work and study.

  • Singapore has signed investment and double-taxation protection treaties with many countries.

  • With no exchange control, it is easy to raise capital

  • There is a stable political, economic and trading environment

  • A foreign individual or a foreign company can be a 100% shareholder of a Singapore Company.

  • Minimum S$1.00 Paid-up Capital for incorporation of a Singapore company. The concept of authorized capital was abolished in 2006 and ordinary shares issued have no par value.

  • Tax exemption for newly incorporated Singapore Companies (excluding those with 100% owned by corporate shareholders and investment holding companies). For exempt private limited companies, the effective tax rate is around 8.5% For the first S$300,000 annual profits and 17% flat after that.

  • No capital gains tax and tax-exempt dividends for Singapore companies.

  • If the income of an exempted private company during one year does not exceed SGD5 million, the accounts during that year are not subject to audit.

  • All foreign-sourced income is tax exempt as long as the income has been subjected to tax in a country with a headline tax rate of at least 15%.

IMPORTANT FEATURES:

REQUIREMENTS:

Corporate Structure requirements in Hong Kong, please click here.

COST:

Please click here for the fees structure related to Hong Kong Incorporated Companies.