Singapore off shore company formation-an overview

Posted by GLOBAL CORPORATE ADVISORY PTE. LTD. on December 13th, 2016

Off shore companies are becoming a popular business option for major corporations to run businesses outside their jurisdiction due to the unsurpassable benefits they offer to the establishment. And an offshore company in Singapore is an ideal deal because of the innumerable benefits that Singapore provides, such as a thriving business structure with stable economy and government, cost efficient taxation and availability of professional manpower.

Opening an offshore company is easy in Singapore, the procedure is pretty straight forward:

• Registering a foreign company in Singapore - It is far easier to register a corporation in Singapore compared to other countries due to the very efficient system and easy laws.
• Visa and legal work permits are relatively easy to obtain and the procedure is very transparent and there are various companies that assist in the easy procuring of the permits.
• Due to the strategic location, Singapore is a business domicile and allows easy international operations and currency exchange. Corporates, businessmen are free to keep their money in any currency they choose and make online fund transfers.
• Local agencies take care of all the steps right from registration to hiring administrative personnel, making the investors job hassle free.

Why choose Singapore?

• Singapore is a fitting business destination as it is a city with the best investment potential, one of the best in the world for foreign trade options and also one of the most competitive city in the world. It also is a great place for intellectual property protection (copyrights, trademarks etc.), therefore the investors feel safe.
• Another benefit to starting an offshore company in Singapore is that all exchange controls have been removed so expatriates can transfer funds whenever needed. A tax of 17% is one of the lowest in the world, so it makes it an ideal location for investors to conduct business.  Obtaining a license and work permit is also easy as Singapore encourages businesses.
• A stable government and economy are also factors that one needs to consider prior to starting a business and Singapore is synonymous with good governance and a stable leadership.

Singapore as an offshore company location is turning out to be the preferred destination for investors. With the right steps, it is possible to elevate business to a level that will help in overall growth. Companies aspire to do business in an atmosphere of transparency and efficiency such as the system prevailing in Singapore.

ABOUT THE COMPANY

Global Corporate Advisory Pte. Ltd., better known as LCC Global, is one of the leading corporate advisory firms in Singapore. The company offers professional services, legal aid and consultation to Singapore residents and foreigners for setting up business in the country along with assistance regarding matters such as auditing, taxation, work pass application and corporate secretarial services.