Singapore was ranked by the World Bank Group as the Number Two easiest place to do business in the world. A Singapore offshore company is a corporate entity that is not complex to establish and operate, as well as tax efficient, thanks to Singapore’s stable economic and political environment, and also its one-tier tax system. Furthermore, the process of registering an offshore company in Singapore involves only two procedures: one, reserve an approved company name, and two, register the company with ACRA, Singapore’s Accounting and Corporate Regulatory Authority.
Singapore offshore companies must be incorporated through a Singapore Company Registration Services Provider
However, under Singapore law, foreign individuals or entities are not permitted to self-register an offshore company. Singapore offshore companies must be registered through a professional business services provider, such as VentureHaven, which will assist you in completing both the pre and post incorporation requirements, as stipulated by ACRA.
After ACRA approves the company name, a minimum of one local resident director (a natural person above 18 years old who is a Singapore citizen, Singapore permanent resident or Singapore work pass holder) must be appointed. Nominee director service is also available, if the local director requirement cannot be satisfied. A minimum of one local or foreign shareholder (individual or corporate body) is also required. The next important requirement on the list is the appointment of a company secretary, who must be a natural person and not a corporate body, within six months of the company’s incorporation.