Starting an offshore business is a very popular, tax efficient corporate structure for those who want to participate in international business.An offshore business is legally tax deductible, can be wholly foreign-owned, has no accounting obligations and allows you to open bank accounts in the country as well as abroad. So it both offers a great deal of flexibility freedom – and nowhere better for offshore company incorporation.
Let’s take a look at some of the benefits of offshore company formation.
Advantages of offshore company formation in Singapore
There are many advantages to setting up a offshore company. For starters, the setup is quick and simple, especially when you work with a company building specialist. In addition, shareholders and directors are not required to register their names / details for public records, and the company is legally exempt from annual accounting and tax obligations.
Some other important benefits to consider:
- This allows you to open a corporate bank account in Singapore
- There are opportunities to enter international markets
- You can benefit from a stable and business-friendly legal system and a flexible regulatory regime
- International revenue is tax neutral in respect of authorized or company income, capital gains and inheritance taxes – depending on the jurisdiction
- You get access to global funding
- You have the ability to separate or secure assets from operating organizations
- It should be noted that you cannot do business in Singapore with an offshore company, rent offices, hire staff or obtain a residence visa or work visa for employees.
Working with a company formation specialist
When it comes to becoming an offshore company, it is a good idea to work with a Singapore-based company formation specialist such as the Business Corporation Zone. We are a team of company registration professionals who are passionate about bringing the dreams of aspiring business people.
In addition to handling your license application, BIZ can assist in opening corporate bank accounts and advising the most appropriate financial institution to suit your specific needs.
We also offer services to handle all government rituals and rights. Because there are some changes to the offshore setup, the quickest and easiest way is to be taken by an expert, reducing the hassle and speeding up the whole process.
We always go the extra mile for our customers, long-term relationships based on trust. Establishing a company is an exciting time, and it is our passion that motivates us to provide the best for our customers.