Singapore for business and for living

CONFIDERI’s office in Singapore provides the clients with a great opportunity to enjoy all the advantages of this top-class Asian jurisdiction.
Advantages of business in Singapore:
Moving to Singapore: Comfort and security for you and your children. 
Services CONFIDERI’s Singapore office provides:

Business in Singapore is a key to successful business in Asia and worldwide

Singapore is rightly considered to be the easiest country in the world to do business. Simple and clear rules, reasonable taxation and tax incentives are good grounds for the successful development of any business.

English is the official business language which helps foreign entrepreneurs settle down quickly in the business and financial center of Asia, Singapore.

Headquarters of largest international companies and banks in the Asian region are located in Singapore, creating excellent opportunities for the development of business relationships on a global scale. 

1. ‘White list’ jurisdiction

Singapore is a ‘white list’ jurisdiction and is not placed on any ‘grey lists’ of the Russian Central Bank. It is perceived positively by international banks and is not generally regarded as an offshore jurisdiction. At the same time, Singapore is ranked in top position according to most key indicators on the Ease of Doing Business Index. Singapore is one of the few jurisdictions which accept cash transfers directly from Russian accounts (subject to exchange controls).

2. Low or zero taxes

The territorial tax system means that income received outside Singapore (and not transferred to a bank account in Singapore) is not subject to tax in Singapore. This treatment can be beneficial where a Singapore company holds a foreign account (for example Swiss). Even with the full payment of income tax (at 17%), there are tax exemptions for all newly set-up companies (up to 3 years) and additionally it is possible to write off certain expenses from a company’s taxable income.

3. Incorporation and operation costs

Company incorporation and operation costs are significantly lower than any traditional onshore European jurisdiction, such as Switzerland, the Netherlands, and Luxemburg.

4. Singapore banks

Singapore banks are among the most reliable in the world and the level of confidentiality is even higher than in Switzerland (therefore the flow of capital from Switzerland to Singapore is accelerating). The Singaporean dollar is not tied to the Euro, USD, or Yuan, and is considered a stable trade currency. Conditions for opening a local bank account for Singapore companies are more favorable and easier than for foreign / offshore companies.

5. Asian markets

Singapore provides the best opportunities for finding Asian partners and for entering the high-growth Asian markets that will have increasing significance in the coming decade.

6. The high level of services

The high level of services in general (and in the corporate financial services in particular) is another attractive feature of Singapore, which is one of the leading world economies, including in terms of competitiveness.

7. First hand services

We create and maintain companies and business structures in Singapore through our own office. This allows us to provide quality services at prices lower than the competitors. For example, we do not charge a “security deposit” for acting as the nominee director. This practice is common amongst local service providers, who often will fail to include this cost on their price lists, but will none-the-less charge it to customers when they start the work.

The main disadvantage of this jurisdiction is that opening a bank account in Singapore bank requires the personal presence of the account holder.

CONFIDERI offers a complete range of services for company incorporation and operation in Singapore, including the opening of bank accounts in Singaporean, European or off-shore banks.

Singapore is not only a favorable jurisdiction in which to operate a business, but it is also recognized as one of the most desirable places to live. It is the most secure and developed country in Asia and one of the most comfortable places to reside in the world.

Singapore has one of the highest living standards of any country. It is in the top-five countries according to GDP per capita and there is almost no crime or drug abuse. Accommodation is of high quality and the level of health care services and education is excellent.

Singapore’s location makes it an ideal base for traveling in Asia and worldwide, both for business and pleasure. Relocating to Singapore has the further advantages of being quick, easy and cost efficient.

Singapore’s business-friendly environment facilitates rapid immigration clearance for those with commercial interests in the country. Employment Pass applications are generally processed within 5 weeks.

For most countries, gaining residence or citizenship involves investing hundreds of thousands of dollars in a business or real estate (not including tens of thousands of dollars in payment to immigration agents and advisers). In Singapore, the cost of incorporating a business and obtaining an Employment Pass amounts to only a fraction of those sums.

Once an individual holds an Employment Pass, it is a logical next step to apply for Permanent Residence status (which can be possible after only six months of working in Singapore). Following a period of continued living in Singapore with a Permanent Resident status, it is possible to apply for full citizenship.

CONFIDERI provides support applying for residence permits for company directors and their families (Long Term Dependant Pass).

1. International corporate structures, centered in Singapore, for the purposes of owning and managing worldwide family assets and property.

2. Incorporation of trusts, private trust companies and private family foundations involving a Singapore company.

3. Assisting with maintenance and growth of family fortunes and providing confidentiality and privacy for family financial affairs through the use of a Singapore company and taking advantage of the Singapore legal framework.

4. Development of international projects (legal, fiduciary, financial, tax services) with the use of a Singapore company.

5. Finding partners among the local business community and government authorities. Recruiting personnel, finding premises for the client's business in Russia, Singapore and in other jurisdictions.

6. Selecting the most suitable foreign banks and investment products from the international markets for Singapore companies. CONFIDERI has regional experts whose knowledge and competencies are tailored to the areas they serve, from Russia to Europe, Asia, and North America.

7. Representing clients’ interests in litigation and providing judicial protection in Singapore.