Offshore Company set up
An offshore company is incorporated in other authority where its principals (parent company, shareholders, directors, etc.) are established. These types of companies are usually incorporated to take benefit of laws like foreign business opportunities or taxation systems.
Are you searching to set up an offshore company in Singapore? Well, you will be delighted to know that there are several SMEs and multinationals that have already set up their offshore company, which helps in achieving their company goals.
Singapore is considered as a business hub and it offers companies tax, legal, and financial benefits to tempt them to their foundation. Well, this is an effortless way for these countries to attract investment in Singapore.
The entrepreneurs can register the following business entities:
- Limited Liability Partnership (LLP)
- Sole Proprietorship
- Private Limited Company (Pte Ltd)
On the other hand, a corporate can choose the following options if they want to put their footprint in this country:
- Representative Office
- Subsidiary Company
- Branch Office
There are several Sectors such as holding of Intellectual Property, Asset Holding, Ship management owning, trading, holding Investment, consultancy or Professional services where Offshore Company formation are best Used.
Approval of Company Name by the Accounting and Corporate Regulatory Authority (ACRA)
If you are hiring any offshore company setup representative, they expect 6-7 names.
After that, they will find these names on the Accounting and Corporate Regulatory Authority website. Then, they pay the fees to keep in reserve one for your utilization. Simultaneously, this will offer you a space of sixty days.
The organization registrar has mentioned a few rules related to the name of the company. He asks to keep the organization names decent, meaningful as well unique. This name will not be from the vulgar or black-list. More importantly, the name of the company must not violate any trademark or copyright laws.
What is to be done After Offshore Company Setting up in Singapore?
Once the process of setting up a company is finished, the Accounting and Corporate Regulatory Authority will send an email. You will get your company registration number in this mail. On top of that, it is considered as the official certificate of the company.
Compliance & regulation
Now, your company is a separate legal entity. So, the company should be fulfilled all responsibility for compliance regulation. Don’t forget to keep accurate financial accounts as well as records of every transaction.
Open a company bank account
If you want to get keep accurate financial accounts, then you should set up a company bank account. In Singapore, there are several banks which ask the company directors to be physically present at the bank while opening account. On the other hand, few banks give facilities to open bank accounts online.
Why You Should Choose Singapore to Set Up an Offshore Company?
Well, Singapore is a perfect place to set up a company. It is an ideal regional hub for MNC corporations looking to enhance the fast-growing Southeast Asian area. Here are listed a few advantages of setting up an offshore company in this country.
- Global financial hub
- Favourable tax systems
- Pro-business regulatory environment
- Reliable Image in the Market
- Liberalized Ownership
- Politically benefits
- More Banking Facilities
- Big Market for the Investors
- Great Opportunities to the Start-ups
- Easy Company set up in Singapore
Set Up an offshore company with value, ease, and speed
At Jaanik, we provide transparency, timely, competitive pricing, good support, so that your company set up registration will be made easy and flexible.
In sum, Singapore is considered as a business hub for several multinational companies across the globe. The government has been inviting foreign investors so that they will invest more and more. The government in Singapore attracts them with tax as well as financial offers. Well, an offshore company is an ideal option for company growth. We at Jaanik will help you with the process of setting up a company in Singapore. You can contact us if you want to set up a company, we will be highly glad to give support in every manner.
Should you have any queries, send an email to us at firstname.lastname@example.org