Singapore - Offshore company - Overview

The Republic of Singapore is an island state, located at the southern tip of Peninsular Malaysia. It is one of the smallest countries in the world and the smallest in Southeastern Asia. One of the original tiger economies, Singapore jurisdiction is now a major international financial and trading center for establishing an offshore bank or offshore companies that rivals Hong Kong as the world's biggest container port.
Singapore jurisdiction has a reputation for being highly regulated, while in reality, it is a carefully administered jurisdiction. Singapore's economy has been ranked as one of the least corrupted of the world, one of the top financial centers with the most business-friendly environment.

Singapore jurisdiction is a cosigner to a number of double tax and investment protection treaties which provide some tax planning and security advantages. A Singapore company with external investments that are correctly structured and administered may not be liable for tax on profits generated from activities conducted outside of the country. From Year of Assessment (YA) 2008, companies are taxed at a flat rate of 18% on their chargeable income. A newly incorporated company that satisfies the qualifying conditions can claim full tax exemption on the first $100,000 of normal chargeable income (excluding Singapore franked dividends) for each of its first three consecutive YAs. Estate duty was abolished on 15 February 2008.
You can establish several types of offshore companies in Singapore: Sole Proprietorship, Partnership, Limited Liability Partnership, Private Limited Company, Public Limited Company, Foreign Company and Holding Company.
The Singapore offshore company or an offshore bank is the best corporate structure in the world we can recommend. Some of the main advantages a Singapore offshore company offers are: an ideal vehicle to house global corporate profits, minimizing international taxation (asset protection, investment companies, holding companies and more); it is easy to open corporate bank account globally since Singapore company does not portray a tax haven image; excellent reputation the jurisdiction has as a global business hub; top jurisdictions for offshore services; favorable corporate tax rules, together with extensive network of double taxation treaties for offshore companies; Singapore banking is considered one of the most secure in the world (strict confidentiality laws); possibility for the business to be listed on the Singapore Stock Exchange; high standard of incorporation and business supported services; reduced tax liability; liberal foreign ownership policy.


General Information

Type of Company

Resident/Non Resident, Private Limited

Company Registration Timescale

3-5 days

Share Capital or Equivalent Requirements

Standard currency


Permitted currencies


Minimum paid up



Minimum number


Local required


Corporate Directors Permitted


Publicly accessible records



Minimum number

One(Corporation or Individual)

Publicly accessible records


Location of meetings


Company Secretary



Local or qualified



Requirement to prepare


Audit requirements

Yes, but there are exemptions

Requirement to file accounts

Yes, but there are exemptions

Publicly accessible accounts

Yes, but there are exemptions


Requirement to file annual return


Change in domicile permitted


Singapore Incorporation Costs

Company registration

3,500  Euro

Bank account

490  Euro

Annual Tax (from 2nd year)

2.000  Euro

Resident Director

2.000  Euro

Optional/Additional costs

*Seychelles Nominee Director & Shareholder

1,200 Euro

  Accounting                              2,500 Euro

Local Nominee Director / year

Ask quotation

Local Nominee Shareholder / year

Ask quotation

Certificate of Good Standing

300  Euro

Power of Attorney

200 Euro

Company Seal / Rubber stamp

50 Euro

Courier Delivery

80 Euro