Chesterfield (London) - Headquarters
207 Old Marylebone Road
London
NW1 5QP
Tel: +44 (0) 203 771 3853
Fax: +44 (0) 203 771 3856
Email: sales@groupchesterfield.com

Singapore

Singapore was a British colony from 1819 and joined the Malaysian Federation in 1963. It left again two years later and has since become one of the world's most prosperous countries with strong international trading links. It has an excellent infrastructure, highly educated labour force, political stability and an efficient business structure. English is the most commonly used of the official languages.

 

Singapore is governed by a cabinet consisting of ministers and headed by a Prime Minister. The legislature is the parliament, which consists of the President and a single chamber elected by majority vote. The role of the President is largely ceremonial although he does have power to veto some decisions and exercises powers over civil service appointments and internal security matters.

 

Singapore is a major regional financial centre but is not generally regarded as a "tax haven". It is nevertheless an attractive territory in which to establish a company for international trade or international investment. There are tax incentives available, foreign source dividends; foreign branch profits and foreign source service income are exempt from tax. Singapore also has extensive tax treaties and unilateral relief and foreign dividends can often be redistributed to foreign shareholders tax-free. By these means the effective rate of tax in Singapore can be significantly reduced.

 

Singapore offshore company regulations
Type of entity Resident or Non Resident
Type of law Common
Corporate taxation Varies
Double taxation treaties available Yes
Share Capital
Usual currency Singapore $
Permitted currencies Any
Minimum paid up Singapore $1
Usual authorised Singapore $100,000
Directors
Minimum number 1
Local resident required Yes at least 1
Records publicly available Yes
Corporate Director allowed No 
Shareholders / Members
Minimum number 1
Records publicly available Yes
Location of Meetings Anywhere
Company Secretary
Required Yes
Local or qualified Yes
Accounts
Required Yes
Audit required Yes - but there are exemptions
Filing required Yes
Publicly available Yes - but there are exemptions
Other
Annual return required Yes 
Change of domicile permitted No 
Shelf companies available No
Time to incorporate a shelf co N/A
Time to incorporate a new co 5-7 working days

To learn more about Singapore Company services follow the link below or call us on our offices

Telephone Number: 44 20 7097 1385



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