- Ultra-fast company transfer
- All clear - fixed cost - no surprises
- Easy - just pick the company and tell us when you coming
- Good relationship with most important banks.
- Unlimited bank accounts - no caps/no limits
- Foreign bank accounts
- physical office arrangement/ staff recruitment & accounting
- tax inspection handling / EORI & GIOS
- WDL Trading / Energy / Electricity / Natural gas trading licenses
The 1819 establishment of a British East India Company trading post on the main island marked the genesis of modern Singapore. During the Second World War, Imperial Japan invaded and annexed Singapore. In 1945 Singapore was returned to British control. In 1965 Singapore regained independence, to become a high-income economy and developed country within a single generation.
Singapore is a unitary parliamentary constitutional republic with a unicameral legislature that has been characterised by dominant-party rule since independence. It is considered a soft authoritarian technocratic state. The country is home to 5.6 million residents. The country, which is Anglophone, has four official languages: English, Malay, Chinese, and Tamil; Malay, as the ancestral language of the country, is accorded protected status in the country's constitution as the national language, while English is the lingua franca, being spoken as a common tongue by the vast majority of Singaporeans.
Singapore is one of the five founding members of ASEAN, is the headquarters of the Asia-Pacific Economic Cooperation (APEC) Secretariat and Pacific Economic Cooperation Council (PECC) Secretariat, is a member of the United Nations, World Trade Organization, East Asia Summit, Non-Aligned Movement, and the Commonwealth of Nations. Singapore is also a popular tourist destination, with well-known landmarks such as the Merlion, Marina Bay Sands, Gardens by the Bay, the Jewel, the Orchard Road shopping belt, the resort island of Sentosa, and the Singapore Botanic Gardens, the only tropical garden in the world to be honoured as a UNESCO World Heritage Site.
The official currency is Singapore dollar (SGD).
New start-up companies are eligible for the Start-up Tax Exemption (SUTE) scheme. To qualify for Start-up Tax Exemption (SUTE) the company must have no more than 20 individual shareholders; for corporate shareholders, one individual must hold at least 10% of the issued shares; property and investment holding companies are not eligible.
Full Exemption for New Startup Companies is for first 3 years of assessment. The effective tax rates are from 3.18% (for income to S$100K), up to 16.64% (for income > S$10M).
Singapore has more than 80 agreements in place with other nations to avoid double taxation on investments overseas.
State-owned enterprises play a substantial role in Singapore's economy. The Singaporean economy is a major foreign direct investment (FDI) outflow financier in the world. Singapore has also benefited from the inward flow of FDI from global investors and institutions due to its highly attractive investment climate and a stable political environment.
Exports, particularly in electronics, chemicals and services including Singapore's position as the regional hub for wealth management provide the main source of revenue for the economy, which allows it to purchase natural resources and raw goods which it lacks.
Singapore could thus be said to rely on an extended concept of intermediary trade to entrepôt trade, by purchasing raw goods and refining them for re-export, such as in the wafer fabrication industry and oil refining. Singapore also has a strategic port which makes it more competitive than many of its neighbours in carrying out such entrepot activities. Singapore's trade to GDP ratio is among the highest in the world, averaging around 400% during 2008–11. The Port of Singapore is the second-busiest in the world by cargo tonnage.
To preserve its international standing and further its economic prosperity in the twenty-first century, Singapore has taken measures to promote innovation, encourage entrepreneurship and re-train its workforce. The Ministry of Manpower (Singapore) (MoM) is primarily responsible for setting, adjusting, and enforcing foreign worker immigration rules. There are approximately 243,000 foreign domestic workers (FDWs) in Singapore.
The politics of Singapore takes the form of a parliamentary representative democratic republic whereby the President of Singapore is the head of state, the Prime Minister of Singapore is the head of government, and of a multi-party system. Executive power is exercised by the cabinet from the parliament, and to a lesser extent, the President. Cabinet has the general direction and control of the Government and is accountable to Parliament. There are three separate branches of government: the legislature, executive and judiciary abiding by the Westminster system.
Legislative power is vested in both the government and the Parliament of Singapore. The legislature is the parliament, which consists of the president as its head and a single chamber whose members are elected by popular vote. The role of the president as the head of state has been, historically, largely ceremonial although the constitution was amended in 1991 to give the president some veto powers in a few key decisions such as the use of the national reserves and the appointment of key judiciary, Civil Service and Singapore Armed Forces posts. They also exercise powers over civil service appointments and national security matters.
Singapore is one of the leading financial centers of the world and a major distribution hub of finance in Southeast Asia. No wonder, therefore, that the country has created one of the most advanced banking systems in the world, numbering about 700 local and foreign banks and financial institutions that provide services ranging from consumer banking and asset management to the stock exchange, investment banking and specialised insurance services.
Activities of commercial banks licensed in Singapore are subject to the Banking Act. Commercial banks may engage in all possible types of banking activities. In addition to providing commercial banking services, including deposit-taking, lending and checking operations, banks may also engage in any other kind of banking business, which is regulated or permitted by Monetary Authority of Singapore (MAS), including consulting services in finance, brokerage services in the field of insurance and capital market placement services.
Commercial banks and their representatives do not necessarily need a separate license for such activities, but must comply with the code of conduct in its business activities prescribed in the Act on Financial Advisors (IA) and the Law on Securities and Futures Act (SFA), respectively. Currently, in Singapore operate over 100 commercial banks. Six of them are registered at the local level and are owned by three local banking groups. Commercial banks can operate as banks, providing the full range of services, wholesale banks or offshore banks.
All companies are equal before the law.
A good formation agent is what makes a difference.
ShelfCompanies24.com is one of the leading providers of ready made companies and special purpose vehicles (SPVs) as well as other investment structures delivering outstanding service at very reasonable prices and at highest speed. We have setup and sold hundreds of companies. Our company is considered trustworthy and reliable by our clients as well as by many professional law firms and tax advisers.
What is very unique in our style of operation is the fact that we have our ready made companies already registered in many various countries. All other providers have one address where they keep their shelf companies registered so that client wishing to buy more than one company with different address cannot be satisfied.
Many competitors may be offering lower prices however this always is at the expense of service and provided company quality. Our core activity is company formation and sale of ready made companies thus all members of our team have appropriate professional background. Our shelf companies are formed in accordance to all relevant laws and procedures by the team of qualified and experience professionals and lawyers. On the other hand the maintenance of our ready made companies is performed by licensed and proficient accountants and tax advisers. Therefore our clients can be sure that a shelf company they buy from us is clean, with no debts or tax issues, is formed professionally and its Articles of Association are of high quality.
Our main clients are private investors, traders, law, audit, accountancy and tax advisory firms as well as banks and investment funds. Throughout the years of activity Shelfcompanies24 has been enjoying the reputation of the fastest and most responsive shelf company provider.
Our ready made companies have been formed and maintained by our team. Therefore we always guarantee their quality and that they are debt free, with no trading history and consequently riskless to build new ventures on.
Our services do not finish on the sale of shelf companies or company formation. We provide also many other related and necessary services so that we can be treated as a one stop shop in a business setup in many countries. We are also experts in tailor made company formation as well as compliance and registering various changes within the company like director appointments and dismissals, company name change, share capital increase or decrease, company address change and many other issues.
We also provide tax and legal advisory services that are inevitably required by the businesses. We cooperate with many reputable tax and legal advisory firms whose services we can also recommend when the nature of the problem requires certain field specialist engagement.
For those clients who have a need to present their companies documents in foreign countries we provide apostille and translation services. After company sale documents can simply stay with us for the purpose of their apostille or legalisation and sworn translation to any desired language. This service is mainly required when there is a need to open a foreign bank account for a shelf company.
Furthermore we have agreements with many different accounting offices so that we are able to offer a wide choice of the particular accountant that will be dealing with client’s company. Also in case two or more of our clients are trading partners we can ensure that their books will be handled by separate and independent accountants.
Ultimately we can also support with a procedure of liquidation/bankruptcy of a company if a client wishes to withdraw their business presence. In this case we can either manage the process of liquidation or bankruptcy on client’s behalf or simply just dispose the assets and takeover the company so that the clients can enjoy fast exit.
The company delivered a ready-to-go business, with VAT and EU VAT registration. Paperwork and the whole re-registration process was handled efficiently. I recommend this to anyone looking for a no-hassle company acquisition.
Company name of your choice? Check. Accounting services? Check. Help with tax authorities? Check. Finding a translator? Check. What can I say, these people are great and can help you with just anything.
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Adrianna has completed a master degree in law at European School of Law and Administration. At ShelfCompanies24.com Adrianna is responsible of customer service, logistics as well as relationships with the banks.