Tax-free company in Singapore in 3 days, it's real in 2021
Registration of a tax-free company in Singapore in 2021 allows profitable optimization of tax burden on a legal basis. The country has a positive climate for investment activities and manufacturing companies. The state has an excellent reputation, you can buy a ready-made company or start registering from scratch.
The advantages of opening a company in Singapore
There are several advantages of registering a tax-free company in Singapore in 3 days. The country has a stable economic and political situation, as well as developed infrastructure. There are no currency controls. The financial services sector is well developed.
New companies can receive significant benefits, and there are no strict requirements regarding the amount of share capital. The country has entered into many agreements to avoid double taxation. Many companies that have received tax exemptions do not require mandatory auditing.
Opening a company in Singapore in 2021 gives the opportunity to get a residence permit or permanent residency in the future. It does not take long to register a company. Contact experts at IT-OFFSHORE to learn more about how to open a business and start operating in the state in just a few days.
Nuances of registering a firm in 3 days
It is possible to open a firm in the country from scratch, there is an option to buy a ready-made company in Singapore with an account in a financial institution. Registration of a ready-made company may be required if you want to start work urgently and need a firm with a history of activity.
To open a company, you will need to gather some documents:
- The original name of the company;
- A detailed description of the planned work;
- Identification details of the directors, beneficiaries;
- Charter, memorandum;
- Information about the location of the company, legal address, and office.
Opening a business is possible only if a number of conditions are met. The applicant must not be bankrupt. The presence of at least one shareholder is required (no residency requirements).
The Director of the company must be a natural person - a resident of the state. You can use the services of nominee service. An important condition - the presence of a local secretary with sufficient experience. She/he must have the status of a natural person.
Corporate tax rates
If a firm is registered in Singapore, works with local partners, and transfers the income received in local bank accounts, it is required to pay 17% of corporate income tax, and in some cases pay VAT.
Corporate tax is not charged if the funds were received from another state, not transferred to a local bank account in Singapore, and not spent on the purchase or rental of real estate in the country.