Offshore company in Singapore in 3 days, this is reality
It is profitable to open an offshore company in Singapore in 2021, because this state is characterized by a favorable climate for investment. The country is at the top of the economic freedom rankings, the level of prosperity is constantly growing. Tax rates are relatively low, and the country has a developed manufacturing industry.
The advantages of business development in Singapore
Offshore registration in Singapore in 3 days has many advantages. The country has quite low tax rates. The corporate tax rate is 17%, but you can legally pay less in the first 3 years of operation. The tax rate on dividends is 0%. VAT is 7%.
Simplified reporting can be filed. Jurisdiction is stable economically and politically. It is possible to assist start-ups. The state is attractive to investors, it is possible to protect their intellectual property. It is profitable to develop transcontinental projects in Singapore.
The country has a well-developed infrastructure, characterized by the availability of high-speed Internet. Opening a business allows you to get a residence permit and permanent residency. Creating your own company or buying ready-made is easy enough and can be done in a short time. For more information, contact our experts at IT-OFFSHORE.
Features of opening a company in 3 days
It is possible to register an offshore company in Singapore in 2021 from scratch, and there is an option to purchase a ready-made business. Buying a ready-made company is relevant if you need to immediately start doing business, there is no possibility to wait for some time. You need a company with a ready-made account.
The following is required for the creation of a firm:
- The original name - it is desirable to prepare several variants.
- Description of the activity.
- Details about the directors, secretary, shareholders.
- Company constitution.
- Details of the actual and legal address.
Residents additionally need to provide identification documents, information on the registration of the legal entity. Non-residents will also need identification data, as well as information from the bank where the account is opened, proof of residency.
It can be difficult to open an account in a few days at a bank. To start activities as early as possible, it is better to buy a ready-made company with an account. It does not take long to redecorate the documents, after which the buyer will become the legitimate owner of the business.
When opening a business, it is important to comply with several requirements. The applicant must be of legal age. The bankrupt status is not acceptable. At least one shareholder is required, who may have the status of a legal or natural person, the company can be fully owned by a foreigner.
Requires at least one director with resident status. Director can be only a natural person. It is possible to use the nominal service. A local secretary, who is sufficiently qualified and is a natural person, is required.
A company that has been in business for the first three years can only enjoy the benefits of residency status. If there is a legal entity among the shareholders or the turnover exceeds 5 million SGD, an auditor is mandatory.