Asian holding companies

Asian holding companies

Asian low tax holding companiesSingaporeHong KongLabuanNew ZealandBrunei
Our ranking in order of preference12345
Summary at a Glance
Minimum paid up share capital?US$1US$1US$1US$1US$1
Total engagement period?9 weeks10 weeks12 weeks7 weeks10 weeks
How long to set the company up?1 week1 week2 weeks1 week2 weeks
Our Client must travel?NoNoNoNoNo
How long to open bank account?4 weeks4 weeks4 weeks2 weeks3 weeks
Fast turnkey solution available?YesYesNoNoYes
Total year 1 engagement set up costs?Click this linkClick this linkClick this linkClick this linkClick this link
Total year 2 costs (incl. audit and tax)?Click this linkClick this linkClick this linkClick this linkClick this link
Incorporation requirements
Resident director required?YesNoNoYesYes
National shareholder required?NoNoNoNoNo
Minimum number of directors?11111
Minimum number of shareholders?11111
Resident company secretary required?YesYesYesYesYes
Individual shareholders allowed?YesYesYesYesYes
Corporate shareholders allowed?YesYesYesYesYes
Corporate director(s) allowed?NoYesYesNoYes
Public register of shareholders & directors?YesYesOnly directorsYesNo
Tax and accounting considerations
Special tax regime for holding companies?YesNoYesNoNo
Controlled Foreign Corporation (CFC) rules applicable?NoNoNoYesNo
For Holding Company to enjoy exemptions, does the foreign subsidiary have to meet any substance requirements?NoNoNoNoNo
For Holding Company to enjoy exemptions, does the foreign subsidiary have to pay corporate tax in its own country?NoNoNoNoNo
Required % ownershipNANANANANA
No. of DTAs signed763172, some not applicable for Labuan3916
Corporate tax rate payable0%0%0%28%0%
Withholding tax rate on dividends paid to nonresidents0%0%0%0%-30%0%
Withholding tax rate on dividends distributed to residentsNoneNoneNoneNoneNone
Withholding tax rate on interests paid to nonresidents0-15%0%0%0-15%0-15%
Tax rate for gains on sale of subsidiary0%0%0%0%0%
Annual tax return to be submitted? Yes Yes Yes YesNo
Annual financial statements required? Yes Yes Yes YesNo
Statutory audit required?No Yes YesNoNo
Must register for GST or VAT?NoNoNoNoNo
Access to double tax treaties?YesYesYes, but not allNoNo
Resident company for local tax?YesYesYes (3%)YesYes
Can do business and hire locals?Yes, but must pay corporate taxYes, but must pay corporate taxYes, but must pay corporate taxYes, but must pay corporate taxYes, but must pay corporate tax
Blacklisted “tax haven” jurisdiction?NoNoIn some countriesNoYes
Bank account characteristics
Healy Consultants’ preferred bank?DBSHSBCKFHANZHSBC
Do I travel to open the bank account?NoYesNoNoNo
Minimum deposit (USD)?US$10,000US$1,000US$5,000US$1,000US$10,000
Multi-currency corporate bank account?NoYesNoNoNo
Corporate credit card?YesYesNoYesYes
Corporate ATM card available?YesYesNoYesYes
Bank rating by World Economic Forum?4735247
Ease of getting credit? (by WEF)?4521181
Logistics considerations
Virtual office services available?YesYesYesYesYes
Allowed to make sales to foreign Clients?YesYesYesYesYes
Allowed to make sales to local Clients?YesYesYesYesYes
Local sales subject to tax?YesYesYesYesYes
Can the entity hire local staff?YesYesYesYesYes
Can the entity hire expatriate staff?YesYesYesYesYes
How long to get work permit approved?1 month3 months3 months3 months3 months
Estimate of engagement costsUS$US$US$US$US$
Healy Consultants engagement fees1,9402,3503,9002,0004,250
Company secretary and registered office1,1001,1001,1001,1001,100
Government fees0550400130500
Resident director fees (0 if not required)1,9500000
Corporate bank account opening2,9502,9503,9503,9502,950
Other0005500
Estimate of total outgoings in Year 17,9406,9509,3507,7308,800
Draft sales invoice attached

Contact us

For additional information on our incorporation services, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Mr. Simon Guidecoq, directly:
client relationship officer - Simon