Incorporating a Singapore entity is an excellent way to create a tax-efficient corporate vehicle through which international business can be conducted. Healy Consultants also has a wide range of Singapore corporate services to support clients who are incorporating a Singapore entity. The following information will help you determine whether setting up a company in Singapore is the best option to meet your business objectives.

Incorporating a Singapore entity projects a positive image. As a result, setting up a company in Singapore is an excellent corporate vehicle to promote to customers, suppliers, investors, venture capitalists, etc.

A properly-structured Singapore entity is not considered an offshore company. Singapore is reputable and highly regulated and has an international outlook. Therefore, setting up a company in Singapore is a potentially lucrative, yet low risk, jurisdiction.

Incorporating a Singapore entity offers excellent tax benefits. A properly-structured Singapore company pays no tax on revenues sourced outside Singapore. For further information, please refer to the Inland Revenue Authority of Singapore website.

Another key tax advantage of setting up a company in Singapore is that the first S$100,000 (US$60,000) of local corporate profits earned in Singapore are tax-free for the first three years after setting up a company in Singapore. For further information, please refer to the Inland Revenue Authority of Singapore website.

A further tax advantage with incorporating a Singapore entity is the double taxation treaties Singapore has signed with 54 countries, including Japan, China, Germany, France, the UK and Canada. Please refer to this link.

Singapore levies a 5% Goods and Services Tax (GST) in lieu of value added tax (VAT) and import duty. However, Singapore company sales to international customers are GST-free. Our Singapore tax consultants can provide more information if required, or refer to this link.

When incorporating a Singapore entity, at least one Singapore-resident director is required.

After incorporating a Singapore entity the company must submit annual accounts to the Inland Revenue Authority of Singapore (IRAS).

Setting up a company in Singapore is secure. Singapore has strong client confidentiality regulations and refuses to exchange customer information with other Organisation for Economic Cooperation and Development (OECD) members, despite pressure to do so.

After incorporating a Singapore entity, a company is required to register for goods & sales tax (GST) if annual sales exceed S$1 million (US$614,000) in a calendar year.

Entrepreneurs setting up a company in Singapore often comment on the relatively few major cultural differences in the workplace.

Entrepreneurs setting up a company in Singapore can take advantage of an abundant supply of highly qualified graduates to meet the needs of local and international organisations.

After setting up a company in Singapore, a wide range of Singapore corporate services are available from Healy Consultants. For example, when incorporating a Singapore entity, it is easy to open global corporate bank accounts to support the company. Other Singapore corporate services include:

Banking Services - one of our core Singapore corporate services, Healy Consultants offers corporate bank accounts in Singapore, as well as offshore banking services, obtaining corporate finance, and assistance with opening merchant accounts and brokerage accounts.

Accounting Services - another core Singapore corporate service, our qualified in-house accounting Team prepares accounts using a highly sophisticated combination of spreadsheets and accounting software packages.

Singapore Tax Planning - this is central to our Singapore corporate services offering. Healy Consultants' Singapore tax planning services are tailored to meet our clients' precise needs. Our international tax professionals provide the best Singapore tax planning services to organisations of all sizes.

Singapore Trust formation - this is a growing area in our Singapore corporate services portfolio. We assist entrepreneurs and high net worth investors migrate their assets into Singapore or offshore trusts as part of an effective tax minimisation strategy.

Singapore Virtual Office Services - another of Healy Consultants' Singapore corporate services is establishing a fully-functional virtual office for those setting up a company in Singapore.

Singapore Stock Exchange Listing - Healy Consultants can assist clients with their initial public offerings (IPOs) and other listing-related issues in Singapore as part of our broad Singapore corporate services offering. For more information, follow this link. See also the Stock Exchange of Singapore site.

Website Development and IT Support Services - to support our clients' businesses, Healy Consultants' Singapore corporate services include Website Creation and Development, Search Engine Optimisation (SEO) and Internet Marketing. For more information, follow this link.

Singapore Migration Services - Healy Consultants assists our clients to apply for Singapore residency and employment visas as part of our Singapore corporate services that are offered.

Singapore Property Investment and Mortgage Services - to assist our clients' who are setting up a company in Singapore, Healy Consultants' Singapore corporate services include helping our clients buy property in Singapore and elsewhere in Asia.

After incorporating a Singapore entity, our clients can obtain Singapore residence and employment visas.

Healy Consultants can assist those setting up a company in Singapore to obtain work and residence visas for themselves and their staff.

For entrepreneurs incorporating a Singapore entity, a Singapore company is the perfect way to book international profits without paying local corporation tax, if properly-structured and managed.

Another advantage of setting up a company in Singapore is government policy initiatives which aim to raise Singapore's population by some two million over the next 40 years. Many of these new arrivals will be highly skilled foreigners.

Singapore is an attractive place to live. Singapore offers an unrivalled quality of life in Asia, being voted by Mercer Human Resource Consulting's 2006 Quality of Living Survey as the most livable city in Asia.

For more information on incorporating a Singapore entity, email or call us in Singapore at (+65) 6735 0120.