Are you setting up an offshore company in Singapore?

But first, what is an offshore company? An offshore company is a company that is set up in another country, not the one it is registered in. Many businesses set up offshore companies to receive financial, administrative, tax and legal benefits. 

Singapore is a top choice for many businesses to set up an offshore company due to the tax benefits and stability of Singapore’s economic and political landscape. 

However, the incorporation process may be daunting as there are many requirements to fulfil. You must ensure that your offshore company name is approved. Furthermore, you must also ensure you have at least 1 resident director, have a minimum paid-up capital of S$1, have a local registered address, have a resident corporate secretary and many other requirements. Your offshore company may also be required to register for Goods and Services Tax in Singapore. 

Furthermore, you will have to open a corporate bank account in Singapore.

It is important to note that offshore companies have to appoint an incorporation agent for registration.

Our team at Tnb have years of experience in offshore incorporation and banking. Our team of professionals can assist you in your offshore incorporation process:

• Singapore registered address
• Act as your Corporate Secretary
• Assist in opening a corporate bank account in Singapore
• File for business license application
• Assist in GST Submission
• Assist in compliance requirements (Audited Financial Statements, Payroll Management, Tax Advisory)
• Work Pass & Permanent Resident Application Services
• Helping you resolve other issues or conditions to be met