As a financial services destination, Singapore stand above many countries considering a combination of several factors that make doing business there very beneficial to international businesses. There is institutional determination to serve businesses and this is achieved by striving to understand their needs. The workforce available has maintained a high efficiency level while possessing excellent technological skills.
There is a transparent legal framework and structures backed by the Ministry of Law as well as a legal system that is compatible with a lot of legal systems since it is based on the English Common Law. The legal institutional system is also very strong as compliance with Singaporean laws and legal obligations is mandatory with defaulters facing penalties.
Taxation in Singapore
Singapore has one of the lowest income tax regimes in the world. Two factors generally determine the amount of tax payable; income earned and resident or non-resident status. Taxes are paid only on income generated in Singapore or generated overseas but received in Singapore although foreign income is not taxed when received by non-residents.
Singapore Offshore Bank Account
Moss helps clients open offshore bank accounts in Singapore. The benefits of this account includes low minimum deposit of $10,000, online and multi-currency operations. The bank also issues MasterCard and Visa cards although only the name of the corporation is permitted to appear on the card and not personal names. The use of anonymous bearer share corporations is also permitted although it is required that such shares be deposited with the bank
To set up a Singapore Offshore Bank Account (Personal and Corporate) and a Singapore Offshore Bank Account (Personal Numbered and Corporate). The fee for the Personal and Corporate is applicable if combined with any of the corporate packages offered while that of the Personal Numbered and Corporate is applicable when ordered on its own.