What are the benefits of incorporating an offshore company?

Why you should register a company in Singapore? [ Benefits]

Let us understand what an offshore company is – an offshore company is a company that is incorporated in a jurisdiction other than the main place of operations.

There are multiple benefits of incorporating an offshore company.

Tax Liabilities

One of the main benefits of setting up an offshore company is its reduced tax liabilities. Singapore has a simple and low tax system. An offshore company can help in reducing a high level of income tax, capital, and succession taxes. It also helps you to protect your assets from creditors and other third parties.

Credibility and Dependability

Singapore is the best place to do business in Asia. If you are having a company incorporated here, it demonstrates credibility and stature as a legal entity. You are going to be taken seriously by investors, bankers, and employees.

Ease in Incorporation

The company registration process is quick and is done online. This makes the process simple and more efficient. The ownership policy is open and liberal. You can have 100% foreign shareholding.

Affluent Banking facilities

Banking facilities are robust here and make the process as easy as possible. Most of the banks would require a physical presence during the time of the account opening. But once done, you can do all subsequent transactions online.

Asset Protection

If assets are held directly, you would be liable for high levels of income, capital, and death taxes. If you combine your assets with trust in an offshore company, you can protect yourself from such heavy taxation.