| |
Newsroom /
Business
/
Business
/
Asiabizservices Provides Singapore Subsidiary Registration Services
Asiabizservices Provides Singapore Subsidiary Registration Services
In Singapore, taxes such as withholding, dividend, capital gains, estate duty, surtax, payroll, transfer and capital duty are non-existent.
Telok Ayer Street,
Singapore,
Singapore
(prbd.net)
25/11/2010
Setting up a subsidiary office in Singapore is the best option foreign investors could have in seeking for a business expansion. In the 2011 Ease of Doing Business survey initiated by the International Finance Corporation of World Bank, Singapore bagged the first place for 5 consecutive years with impressive statistics in benchmarks such as taxation, trading across border, and starting a business.
Based on the observation on the entrepreneurs assisted by Asiabizservices, a company providing professional services such as corporate solution, accounting and nominee, a subsidiary office is the business structure mostly registered among foreign companies.
“A Singapore subsidiary is registered as a private limited liability and treated as a resident corporation,” commenced the explanation of Asiabizservices on the advantage of a subsidiary office, “it is accorded with a legal status separate from the foreign parent company.”
Hence, the subsidiary office can enter into contracts, engage in a lawsuit either as a plaintiff or respondent, own real estate and other assets, and its liabilities are not carried over to the parent company. Unlike in a branch or representative office in which neither is recognized as a legal entity, the subsidiary limits its liabilities to the monetary investments the shareholders have in that subsidiary.
Moreover, Asiabizservices added that by clothing the subsidiary with legal personality, it enables it to participate in activities that are entirely different from its overseas parent company. Nonetheless, the greatest advantage a subsidiary can have is tax benefits.
“In Singapore, taxes such as withholding, dividend, capital gains, estate duty, surtax, payroll, transfer and capital duty are non-existent.”
Asiabizservices further added, “Under certain qualifying conditions, newly incorporated Singapore company”, including a subsidiary, “has a 0% tax rate on the first S$100,000 accumulated taxable annual profit for the first 3 years of assessment.”
On the next S$200,000, accumulated earning, another 50% off on the corporate tax is awarded. On the fourth year of assessment, the corporate tax for earnings between S$100,000 and S$300,000 is a mere 8.5%. For profits above S$300,001, the tax rate is 17%.
Also, under unique circumstances, some corporations are subject to further tax benefits such as avoidance of double taxation based on the tax treaties that the city-state has concluded with 70 different countries.
“Should foreign-sourced income is remitted to Singapore and had it been previously taxed to 15% for headline tax in the country of origin, a tax exemption is granted as well,” Asiabizservices elaborated.
Foreign investors wishing to establish a subsidiary company in Singapore, the professional services provided by firms such as Asiabizservices must be employed as they are restrained from handling the incorporation procedure.
About the Publisher:
For many years, Asiabizservices has served the community by taking charge of Singapore company incorporation, processing the necessary working visas of entrepreneurs or employees, and providing services such as accounting, secretarial and statutory compliance with certain requirements.
Asiabizservices has been established to provide corporate solutions to investors. Among its specializations are Singapore company registration, setting up a Singapore representative office, Singapore branch office, and subsidiary offices. It is also qualified to process the registration of a new company like a sole proprietorship, partnership, private limited, and limited liability, and to process the necessary working visas.
For more information:
AsiaBizServices.com
address: 120 Telok Ayer Street Singapore 068589
phone: +6563034614
email: sales@asiabizservices.com
website: http://www.asiabizservices.com/
About
AsiaBiz is a company that provides Singapore Company Registration services to local and foreign entrepreneurs and investors.
|