Singapore's business advantages:
1. Superior geographical location, commercial advantages radiate to Southeast Asia and even the world, excellent trade and logistics center
2. Extremely low commercial and personal taxes, the best place for transferring personal assets
3. Loose foreign exchange control, the gathering place of global banks, the leading international financial centre
4. A mature credit system, strict business rules and the safest country to do business
Five or five hours'flight distance makes it easier to manage business between Singapore and China
6. The purpose of immigrating to Singapore can be achieved by registering Singapore companies and meeting the relevant conditions.
The conditions for registering a Singapore company are as follows:
As long as legitimate citizens over the age of 18 can apply for the establishment of Singapore Private Limited Liability Company.
There are no restrictions on the shareholder composition of Singapore Private Limited Liability Company, and even all of them are non-Singaporeans.
The board of directors of Singapore Private Limited Liability Company may be composed of one or more directors, but it must include at least one local director (Singapore Citizen, Singapore P.R.) or a foreign entrepreneur with a Singapore Business License).
Singapore company registration process:
Fill in the registration application form, check the name, sign the relevant signature documents, pay 70% registration fee in advance, and submit it to the Singapore Government for registration. Registration will be completed within 7-10 working days.
Introduction of Foundation (Public Guarantee Co., Ltd.)
Public Guarantee Company Limited is the most suitable organization form of token issuance business among the three forms. It can operate as an independent legal entity, while members of the organization only bear limited liability. The business scope of the company is non-transactional charity, religion, science or art.
Public Guarantee Company Limited is a non-profit organization. Its members pay a deposit (minimum to S$1) to ensure that / undertakes to undertake all liabilities arising from the liquidation of the company.
Profits earned by a company are called surpluses, which need to be retained as company funds. Distribution among members or directors is prohibited.
Individuals with fiduciary qualifications form a fiduciary board of directors to manage and operate the company independently. Membership information (name, ID number) of board members is made public
If the applicant meets the requirements, the relevant materials are well prepared and the application time is about 2 - 6 weeks.
Singapore Certified Auditors are appointed within three months of the company's establishment and must be reviewed and reported annually (for example, the company's financial year is audited on February 5, the end of the year can be established on December 31, or January 31, the next year).
Income tax exemption:
Public Guarantee Company Limited has no automatic tax exemption and needs to apply if it meets the requirements.
Generally, public guarantee companies can exempt from income tax in the following circumstances:
The profit (surplus) of a company comes from the contribution of its members, or the income of more than 5 0% of the company comes from the contribution of its members.
Tax exemption may be applied for if a member contributes to a non-deductible tax item of which the member contributes.
The characteristics and advantages of public guarantee companies:
Independent operation and management of a trustee board or management committee composed of trustee-qualified members
Independent of Government
Create revenue for groups other than members of the organization
If no profit is generated, it is forbidden to distribute profits among its members.
Establishing a Good Public Welfare Image of Enterprises
Good channels for raising funds