Singapore
NEWS
FACT FILE
Location South East Asia.
Time Zone Greenwich Mean Time + 8.
Population 5.4 million
Capital Singapore.
Airport Changi International Airport.
Language English, Malay, Mandarin and Tamil.
Currency Singapore dollars.
Dialing Code +65.
Centre's Expertise Financial services, international banking, international holding companies, captive insurance, fund management, trustee services.
Political System Democracy.
Legal System Based on English common Law.
Personal Income Tax 0–20%.
Corporate Income Tax 17%.
Exchange Restrictions No.
Tax Treaties For full details, please go to www.ifcreview.com/TIEA
Permitted Currencies All currencies.
Minimum Authorised Capital No requirement.
Minimum Share Issues One ordinary share (no par value).
Shelf Companies No, but companies can be incorporated within one day.
Incorporation Time Scale One day turnaround unless approval or review is needed from other authorities.
Incorporation Fees $300 (Singapore dollars) for a company limited by shares. $600 (Singapore dollars) for a company limited by guarantee.
Annual Fees No annual fees, nominal filing fees
Minimum Number One.
Residency Requirements At least one director.
Corporate Directors No.
Meetings/Frequency None, unless required by the company.
Disclosure Yes.
Bearer Shares Not permitted.
Minimum Number One.
Public Share Registry Yes.
Meetings Frequency Annual.
Annual Return Yes.
Audit Requirements Yes, unless the company qualifies for audit exemption.
Registered Office Singapore.
Domicile Issues Re-domiciliation is not permitted.
Company Naming Restrictions Names of sensitive nature or similar to statutory boards or government departments are not permitted. Names indicating activities related to banking, trust and certain activities require licencing or prior approval of certain statutory boards.
ARTICLES
As the Blockchain Revolution Moves Offshore, What are the Challenges?
  As the Cayman Islands, Bermuda, the BVI and other offshore jurisdictions position themselves as FinTech hubs, there are certain regulatory risks and challenges that each jurisdiction must overcome in this new blockchain era. (01/09/2018)
Offshore: The Leaders, the Trends and the Opportunities
  Dan Wise looks at why certain IFCs prosper. He discusses regulation and investment opportunities, and opines on the implementation of public registers of beneficial ownership in the British Overseas Territories. (01/09/2018)
IFCs, ICOs and Blockchain: Time to Pay Attention
  IFCs are, to put it mildly, ‘at odds’ when it comes to cryptocurrencies. (31/07/2018)
Registers of Significant Controllers and Nominee Directors for Singapore Companies
  The Singapore Companies (Amendment) Act was updated on 31 March 2017 - here is a review of the changes which are now in effect. (19/09/2017)
Singapore: Adhering to Global Standards
  On 16 June 2016, Singapore announced that it will join the inclusive framework for the global implementation of the base erosion profits shifting (BEPS) project (01/10/2016)
Singapore: Enhancing Its Regulatory Controls Against Money Laundering and Terrorism Financing
  Yeoh Lian Chuan and Kwok Shuhui consider how Singapore has addresed concerns over money laundering by strengthening its AML regulation. (01/01/2016)
Q&A with Singapore Senior Minister of State, Josephine Teo
  Singapore has become a key player in the international finance arena. IFC Media spoke with Singapore’s Senior Minister of State for Finance and Transport Josephine Teo about the jurisdiction’s economic success and what the future holds for it. (01/12/2015)
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FURTHER BACKGROUND INFORMATION
  Singapore Tax Treaties
  Singapore currently has 76 DTCs and 1 TIEA agreement in place. - read more...
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