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Emerging out of the global economic crisis businesses and investors around the world are revving up to capitalize on the economic momentum of the Asian region, especially China and similarly the Asian businesses, a significant number of Chinese are gradually venturing out into markets that are farther away from the regional hot picks. Singapore is the preferred location for such businesses due to the world class infrastructure, international banking facilities and ease of incorporating a Singapore company.

A Singapore offshore company provides several benefits to corporations and organisations all over the world. Some of the major advantages in having a Singapore offshore company are listed below.

Singapore is highly reputable for its efficiency, lawfulness and for being one of the least corrupt countries in the world. It is up to date with the latest in technology making it a very digitalized country.

Experts agree that finding suitable instruments for investment holding has been a long and on-going struggle. To make matters worse, recent world economic events have lead many global financial institutions to take more stringent and preventive measures to screen the simple acceptance of funds from undesirable sources. Internal policies implemented by many banks now stand as obstacles for offshore companies that wish to open new bank accounts.

Singapore is a republic with a parliamentary system of government. Its tax system is well regulated and is less than in the other developed countries. It uses territorial basis of taxation where taxes are imposed on the income derived. The source of income is determined mainly by the location at which the services are rendered. IRAS (Inland Revenue Authority of Singapore) administers, assess and collects the taxes.

Singapore has developed in recent years into a sophisticated private banking and wealth management base for Asia. But besides targeting their traditional but fast growing market of wealthy entrepreneurs in Asia, banks in Singapore today are also developing products and services tailored for North Americans, Europeans and Australians – including multi-currency bank accounts. If you are interested in Singapore offshore banking services, read on to find out about a few of the advantages and disadvantages of opening an offshore bank account in Singapore, and especially how you can open such an account as a non-resident.

The objective of tax planning is to arrange transactions to minimize tax legally. Covering The Basics (Who, What, When, Where, Why, How?), Deductions to save tax, Areas To Plan and Reviewing.

Singapore’s immigration policies make it very easy for businesses to draw on resources from outside of the city to accomplish their move to the region. Besides the standard Work Visa that is easily available, Singapore’s liberal immigration policies make procuring a Permanent Visa quite easy as well.

How does Singapore compare with Hong Kong as a tax jurisdiction for SMEs and entrepreneurs? Learn more about the respective tax jurisdictions, corporate tax rates and their taxation system for companies.