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Incorporate Singapore Company with Bank Account in Cyprus or Switzerland
Registering a company in Singapore can offer you a number of new and advantageous opportunities. Company Incorporation in a highly reliable, low-tax jurisdiction that is on the OECD ‘white list’, will enable you to plan your business in a more profitable way while allowing you to enter lucrative international markets and gain a favorable position with your partners throughout the world.
There are various benefits attached to incorporating a Limited Liability Singapore Company.
Some of these are listed below:
First of all, English is the official business language and therefore all company reports are produced in English and all information is available in English. It is also a great advantage with legal issues that Common law is in place.
Singapore is a world leader in foreign trade and investment and has one of the best business environments in the Asia Pacific region. Therefore it is the best country in which to run a business according to a recent World Bank study and it has been named as having the most open economy for international trade and investment and least corrupt economy in the world.
It is one of the most highly developed and well-regulated financial centers in the world which has been built on the highest regulatory and prudential standards. The Tax System is reference as one of the most straightforward and stable in the world.
Moreover there are no restrictions for foreigners to be shareholders or directors of a Singapore Company. Only one director and shareholder is required to form a limited liability company.
There is also a concept of Territorial Taxation where foreign source trade profit is not subject to Singapore income tax if it is repatriated in Singapore. There is no Capital Gains Tax in Singapore. Foreign dividends are not subject to Singapore Income Tax and Tax Credits for foreign tax paid are available in Singapore. However, they are is subject to some conditions
It is also interesting that there are some partial income tax exemptions available in Singapore. To find out more about these exemptions please contact us and one of our specialists will give you more details regarding this.
Singapore also has an Intensive Double Tax Agreement System with more than 60 agreements signed and ratified with other countries.
Eltoma Corporate Services will provide assistance in opening a bank account in Cyprus or Switzerland for your Singapore Company that offers the following additional benefits:
- Quick and easy procedure for opening the
bank account without the need for a personal visit to Cyprus or Switzerland
- Opportunity to declare part of your business as ‘offshore’, using 0% tax rate
for the transactions which are not made in the territory of Singapore
(‘territorial principle’ of taxation)
To find out more visit our website: www.eltoma-cyprus.com