Tag tax optimization

Offshore Banking in Singapore

Offshore Banking in Singapore

Just like Hong Kong, Singapore has grown into a giant economy that the world respects as a major financial hub in the global stage. Perhaps its best asset is being one of the best banking sector in the globe because of its technologically advance economy that puts a lot of detail into their financial industry. As of late, Offshore Banking in Singapore become easier with 111 commercial banks, 49 merchant banks, 45 banks with representative offices, and 37 of whom are offshore banks. Apart from this, Singapore has a stable economy with a secure political environment, with durable laws and regulations that regulates their banking policies.

Singapore as a whole has an attractive tax schemes for companies and entrepreneurs. In fact, it is vital to say that Singapore has no capital gains tax, and no taxes are imposed on other valuable articles such as deposits or even investments.

Singapore bank account holder’s benefits from multi-currency accounts which makes it very convenient for them in terms of doing international business transactions without having to worry about the settlement account for those invoices. To take advantage of this, it’s possible in Singapore to diversify your capital in multiple currencies in an offshore bank account. This way, you will be able to reduce your currency risks, but also have a convenient way to use other currencies in your personal or business purposes.

    Contrary to what others say that offshore accounts are hard to access, this is not true in Singapore. Once you have your offshore account in Singapore you can easily access your account, and with just a few clicks away you can make international wire transfers and access your online banking facilities anywhere around the world since majority of banks in Singapore are flexible globally.

    International entrepreneurs are encouraged to open an account in Singapore since it allows structuration of offshore company that would get low tax rates and a special startup taxes for the first 3 years of operation would normally benefit with a large reduction on their taxes.

    Ultra-High-Network-Individuals who plans to enter Singapore can avail of several financial facilities for bank accounts and financial services ranging from offshore investment accounts, trusts and mutual funds.

    Offshore banks in Singapore are allowed to do business outside of the country but not within local businesses or locals. Moreover, offshore banking in general in the country covers the usual banking transactions such as deposits, savings accounts, time or fixed deposits, international debit/credit cards, withdrawals, letters of credit and online banking.

    Singapore banks also offers tons of top notch banking products and services to suit the needs of an international entrepreneur and a multinational business.

    In terms of tax benefits, Singapore has an existing Double Tax Agreements (DTA’s) with several countries, in which as to date, it has about 90 DTA’s. Under this setup, companies and entrepreneurs can avail of tax reliefs and tax reductions when they put forward the DTA’s.

      How to open an offshore bank account in Singapore?

      Similar in Hong Kong, Singapore banks requires a bank introduction company to help you in your applications for bank account opening. This is where we come into play, we specialized in bank introduction, company incorporation as well as tax optimization that would benefit a business and a company in the long term arrangement. You would be very interested to know that during our incorporation process, we can come up with a good setup that will greatly reduce your tax burdens if you shift your banking and company activities in Singapore. Always remember, there is no zero tax solution in Singapore and it’s almost impossible to do that without doing something illegal.

      If you are planning to open a bank account in Singapore, we offer packages that covers incorporation of companies in Singapore as well as bank account opening in the country. Contact us today so we can assist you easily!

        Benefit of a Mauritius offshore bank account

        Apart from being a tourist destination, Mauritius is an island nation that is well known in the global offshore scene. The country has been the primary destinations of global entrepreneurs, business and companies since the Mauritius offshore bank account industry is rather welcoming compared to other offshore countries.

        Practically speaking, entrepreneurs and companies can easily open a Mauritius offshore bank account because of its improved banking laws and superior banking sector. The on-boarding procedure in itself is not too complicated and is very accommodating global entrepreneurs who are in need of global solutions to their problems.

        We may well inform you that incorporating a company and opening a Mauritius offshore bank account are but some of our biggest strengths as a bank introductory firm and intermediary. When we accompany you in the process, your chances are incrementally increased as we move forward, sealing your chances of approval in a much higher possibility.

        Here are some of the most attractive features and benefits that a bank account holder in Mauritius can enjoy:

        Optimized Banking Security & Protection

        A Mauritius offshore bank account is well protected and secured in terms of keeping your wealth and assets safe. Deposits in the country are assured to not be disturbed by political or economic downturns unlike other jurisdictions. Online banking in Mauritius is very good, you can easily access your funds, make payments and receive profits anytime and anywhere. Perhaps its most attractive feature is with regards to confidentiality, wherein Mauritius itself has a strict policy on bank secrecy.

          Mauritius offshore bank account

          High Interest Rates

          Account holders in Mauritius can also benefit from high interest rates if compared directly with other offshore countries. This is very appealing to entrepreneurs who intend to maintain a hedge of their wealth and assets without having to worry about other things.

          Global Investment Opportunities

          Mauritius is a global offshore jurisdiction, with ties with multiple countries around the globe. Hence, investment opportunities are readily offered and available in banks of your choosing in the country. Clients of these banks would enjoy an access to investment fund managers and other investment firms that are secured and legitimate. Once you have an offshore bank account in Mauritius, you can easily tap on this financial facility and diversity your wealth and assets smartly through investment opportunities.

          Tax Optimization

          It is innate for offshore jurisdiction to benefit from tax reductions or exemptions. This fact is particularly true in Mauritius. Offshore banking in the country can open doors for any entrepreneur and account holder to seek tax reliefs through deposits, investments and savings with no worries on tax implications on their actions. This kinds of benefits can never be enjoyed if you are dealing with your country of origin where your tax residency is located at due to its high tax schemes to citizens. By the way, charges on bank account related transactions are very minimal since Mauritius has one of the cheapest maintenance cost compared to other offshore nations.

          Easy Global Access

          Mauritius bank account holders are given a unique advantage of having a technologically advance offshore online banking that makes it easy to access your bank account through telephone banking, mobile banking, and internet banking. Through this, you can easily access the funds in your bank account in the convenience of your home country or any parts of the globe. This way you can properly monitor the movements of your wealth and assets so that you can keep track on your financial standing on a need be basis without any hassles.

          How we can help you

          Our team of experts are ready to accommodate your request if you want to incorporate a company and open bank account in Mauritius. For years, we have been navigating through the banking and regulatory laws of the country, and we can ensure that the process will be quick, smooth, confidential and worriless if you obtain our bank introductory services in Mauritius. Once you become our client, you will benefit from an extensive ground up approach so that we can support and provide assistance to you in matters relating to your company incorporation or bank account opening application.

          Contact us now and our team of experts will speak to you about this in detail.