How to quickly open an offshore in Singapore 2022
There are two ways to open an offshore in Singapore quickly: registering or buying a company. To make it quick, we recommend contacting IT-OFFSHORE experts. Our specialists will promptly prepare documents, register or re-register the company with the necessary authorities.
Offshore registration in Singapore
Singapore is in the list of best countries for ease of doing business. Registration is fast, online, without bureaucratic delays. One nuance: local laws allow 100% ownership of the company but do not allow non-residents to register offshore on their own, so one cannot do without an intermediary.
The procedure consists of two steps:
- Approval of the company name;
- Submission of constituent documents.
If everything is done correctly, offshore registration in Singapore 2022 takes 1-2 days.
Requirements for registration
- Name must be unique, approved by Company Registrar before filing for registration;
- There must be 1 local director who is a resident of Singapore, a permanent resident or a person who is authorized to work in the jurisdiction. Other than this requirement, there are no other obligations on the number of local and foreign directors;
- The number of shareholders - from 1 to 50 without reference to residency;
- Director and shareholder can be the same person;
- Secretary must be a resident (only a natural person);
- Director or shareholder can not be a secretary;
- The minimum paid-up capital is 1 Singapore dollar;
- Share capital is not required;
- It is compulsory for the company to rent a legal office where the documents will come.
When the documents are collected, our employee will register your company with the Singapore Registry of Companies. You will receive a certificate of incorporation, seal, stamp, share certificates, other necessary documents. We will also help you to open a corporate account in Singapore, obtain licenses, pay mandatory taxes.
Buying a ready-made company in Singapore
Although registering a business in Singapore is fast, becoming an offshore company owner can be even faster if you buy a ready-made business in Singapore. We have a list of shelf-ready businesses with a clean history that you can buy immediately, bypassing the stage of preparing documents, finding an office, registering the name.
When you buy a ready-made company, the new owner gets:
- Name, articles of incorporation, corporate account, legal address;
- Nominee directors who can be counted if you want, appoint new ones;
- Possibility to increase the registered capital, change the objects of activity;
- Tax registration, TIN.
The price of the company depends on its age (the older, the more expensive), characteristics, additional services.
How does the purchase of a business in Singapore
- The client selects the company with the necessary structure and price, agrees on terms of purchase with the seller;
- The act of sale with the transfer of title is drawn up;
- After the transaction, we make changes to the articles of association (if necessary);
- After coordinating all the points, we submit the papers for registration at the Registry of Companies;
- Once the paperwork is complete, the entrepreneur can start a business in Singapore 2022.
Managing the business after incorporation/purchase
The beneficiary can manage the offshore company from abroad, without having to relocate. On business, Singapore can be visited using a visitor's visa. If relocation is planned, Employment Pass or Entrepreneur Pass must be obtained.