| GENERAL INFORMATION |
| |
| Location |
South East Asia |
| Population |
4.0 million |
| Native language |
Malay, English, Mandarin and Tamil |
| Currency |
S$ (dollar) |
| Constitution & Political status/stability |
Westminster Model. Democracy |
| Banking & professional facilities |
Most major international banks operate in Singapore. International accounting firms and both local and foreign law firms
|
| Legal system |
Based upon English Common Law |
| Offshore specialities/expertise |
International holding companies, captive insurance, tuna management |
|
| TAX REGULATIONS |
| |
| Income tax |
|
 resident |
26% |
| non-resident |
26% |
| Trusts |
|
| resident |
24.5% |
| non-resident |
24.5% |
| Corporate tax |
|
| resident |
24.5% |
| non-resident |
24.5% |
| exempt |
N/A |
| Estate duty |
Yes |
| Withholding taxes |
Yes, 24.5% (Dividends: nil; 15% on interests, royalties and rental equipment) |
| Exchange controls |
|
| resident |
No |
| non-resident |
No |
|
| TRUSTS |
| |
| Are trusts permitted? |
Yes. |
| Perpetuity period |
Life in being +21 years |
| Accumulation period |
Accumulations Act 1800 |
| Statutory trust law |
Yes |
| Trust duty |
No |
| Forced heirship exclusion |
No |
| Asset protection measures |
No |
| Trust register |
No |
| Resident trustee/s required |
No |
| Regulation of trustees |
Yes |
|
| CORPORATION LAW FACTORS |
| |
| Type of corporate vehicles |
Private and public companies |
| Incorporation time scale |
1-2 days |
| Fees: Incorporation - Government |
Flat S$300 regardless of capital |
| Other |
S$ 1,500-S$2,000 |
Annual -
Government |
No fixed annual fee - nominal fees (S$20) for filing of various returns |
| Other |
S$ 1,500 minimum |
| Resident directors required |
Yes |
| Min number of directors required |
2 |
| Directors meetings required |
Yes |
| Other requirements |
Resident and Qualified Company |
| Beneficial ownership disclosure |
No |
| Shareholder disclosure |
Public |
| Minimum number of shareholders |
Two |
| Bearer shares allowed |
No |
| No-par value shares allowed |
No |
| Public share register |
Yes |
| Shareholders meetings required |
Yes |
| Frequency |
Annual |
| Place |
Anywhere |
| Annual return required |
Yes |
| Audit required |
Yes |
| Foreign currency accounting allowed |
Yes |
| Registered office |
Yes |
| Registered agent |
No |
| Stamp/capital duty |
Yes |
| Naming your company |
Approval required |
| Company mobility provisions/redomicility rules |
No |
|
|
