Articles by John Media on ArticleSnatch.com

Singapore storage and warehousing business setup

Wed, 17 Mar 2010 22:52:30 -0400

To set up a storage and warehousing business requires several licenses and permits. But the first couple of things you will have to do are: 1. Register your business first with the Accounting and Corporate Regulatory Authority of Singapore (ACRA). Your business must register as a sole proprietorship, partnership or a private limited company. A private limited company is the best option given the liabilities involved in a storage and warehousing business. 2. Secure a premise for your business. The premise has to be zoned for commercial use. Securing a Premise Once you have secured a space, do make sure that it is current on building codes and fire safety measures. If the premise needs to be converted into a warehouse for storage of goods, you will have to obtain a permit from Urban Redevelopment Authority (URA). URA has a specific rule called the 60:40 Rule for the conversion. The rule stipulates that at least 60% of the gross floor area (GFA) is designated for warehouse usage; and 40% of the GFA can be used for office space, cafeteria or communal facilities. **End Summary** Topics: singapore]]> company]]> setup]]> storage]]> business]]> warehousing]]>]]> About the Author: ]]> If you are interested in the application of employment pass Singapore or about Singapore Company Registration visit http://www.rikvin.com

Singapore Company Incorporation with Nominee Director Service

Mon, 15 Mar 2010 04:35:33 -0400

If you are a foreign individual who wish to incorporate a company and do not need to relocate to Singapore to run your company operations, you must do the following: * To incorporate a company in Singapore, Companies Act requires a local resident director. You will need to appoint a trusted contact or engage our nominee director to satisfy the act requirements. Company Setup Requirements * Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary * Minimum paid-up capital of S$1 * A local registered office address Singapore Nominee Director The Singapore Companies Act requires all Singapore Private Limited companies to have at least one individual director who has to be an ‘ordinarily’ resident of Singapore. A Singapore resident can be one of the following: * Singapore Citizen * Singapore Permanent Resident * Singapore Employment Pass/EntrePass/Dependant Pass holder If you do not have a local Singapore resident director to meet the requirement of the Singapore Companies Act, you can engage our Nominee Director Service. We will provide you with a local Nominee Director for your company provided the followings conditions are met: * The service is offered for statutory compliance only. **End Summary** Topics: singapore]]> company]]> registration]]> incorporation]]> business]]>]]> About the Author: ]]> Singapore Business Article by Rikvin Singapore Company Registration or Apply for a Singapore Entrepass Visit http://www.rikvin.com to learn more

Singapore Company Registration with EntrePass

Fri, 12 Mar 2010 02:39:53 -0500

Company Setup with EntrePass Entrepreneur Pass or commonly known as EntrePass is a type of employment pass for foreign entrepreneurs who would like to start and run a company in Singapore. Apply EntrePass if you are a Foreign Entrepreneur who lacks the appropriate educational qualification or does not qualify under the Employment Pass scheme, but has proven track records of successful entrepreneurial experience. EntrePass is primarily meant for entrepreneurs that do not have a degree or diploma; or specialist skills in the relevant field, but have proven track records of successful business ventures or unique business ideas with potential economic development. **End Summary** Topics: singapore]]> company]]> registration]]> business]]> incorporation]]>]]> About the Author: ]]> Singapore Business Article by Rikvin Singapore Company Registration or Apply for a Singapore Entrepass Visit http://www.rikvin.com to learn more

Set Up Arts or Music Business in Singapore

Mon, 08 Mar 2010 23:15:32 -0500

The arts and music business, though recreational by nature, is classified separately from the entertainment business. Some examples of arts and music business are operas, orchestra concerts, art exhibitions and performance dance troupes. If you plan to start a business in the arts and music industry , you will have to first: 1. Register your business first with the Accounting and Corporate Regulatory Authority of Singapore (ACRA). Your business must register as a sole proprietorship, partnership or a private limited company. Rikvin is Singapore’s leading company incorporation specialist. We can help advise you on the business structure that is most suitable for your company. 2. Secure a premise for your business. The premise has to be zoned for commercial use and designated for arts or music use by URA. Securing a Premise Once you have secured a space, do make sure that it is current on building codes and fire safety measures. If the existing premise is not set up to accommodate an arts or music establishment, you can discuss with the landlord to apply for a Change of Use with the Urban Redevelopment Board. **End Summary** Topics: singapore]]> business]]> setup]]> company]]> music]]> arts]]>]]> About the Author: ]]> If you are interested in the application of Singapore EntrePass or about Singapore Company Registration visit http://www.rikvin.com

Singapore Entertainment Business Setup

Mon, 08 Mar 2010 06:13:34 -0500

How to Set Up an Entertainment or Recreation Business The definition for entertainment and recreation business is broad. It can be a fishing farm or a Kelong where you can fish for prawns; a karaoke lounge or nightclub; or a miniature golf park and more. If you are interested in starting such a business , you will need to first secure a premise that is zoned for commercial use and approved for entertaiment and/or recreation use by Urban Redevelopment Authority of Singapore (URA). You must then register your business with the Accounting and Corporate Regulatory Authority of Singapore (ACRA). Your business must register as a sole proprietorship, partnership or a private limited company. Securing a Premise Once you have secured a space, do make sure that it is current on building codes and fire safety measures. If the existing premise is not set up to accommodate an entertainment or recreation establishment, you can discuss with the landlord to apply for a Change of Use with the Urban Redevelopment Board. **End Summary** Topics: singapore]]> business]]> setup]]> entertainment]]> recreation]]>]]> About the Author: ]]> If you are interested in the application of Singapore EntrePass or about Singapore Company Registration visit http://www.rikvin.com

Singapore Subsidiary office Setup

Mon, 08 Mar 2010 02:42:15 -0500

A foreign Subsidiary Company in Singapore is a locally incorporated limited liability company with which the majority of shares are held by the foreign company. Subsidiary Setup with Relocation to Singapore If you wish to set up a Subsidiary Company and relocate a staff member to Singapore, you will need to do the following: * Incorporate a Subsidiary Company * Obtain an Employment Pass for the staff member who is relocating to Singapore. The Employment Pass application can only be filed only after registration of the Subsidiary Company. Features of a Subsidiary * It is incorporated as a limited liability company, hence has a distinct legal identity. * The foreign company"��s liability is limited to the value of the shares it subscribes into the subsidiary. * The foreign parent company may own 100% of the subsidiary. * A subsidiary company, with at least one individual shareholder with minimum of 10 percent shareholding, is entitled to local tax incentives. New start-up companies Pay Zero tax on the first S$100,000 of chargeable income for the first three consecutive years. A further 50% exemption is given on the next S$200,000 of the chargeable income. **End Summary** Topics: singapore]]> subsidiary]]> office]]> setup]]> company]]> registration]]>]]> About the Author: ]]> If you are interested in the application of Singapore EntrePass or about Singapore Company Registration visit http://www.rikvin.com

Singapore Telecommunications Business Setup

Fri, 05 Mar 2010 02:59:25 -0500

To set up a Telecommunications business requires several licenses and permits. But the first couple of things you will have to do are: 1. Register your business first with the Accounting and Corporate Regulatory Authority of Singapore (ACRA). Your business must register as a sole proprietorship, partnership or a private limited company. A private limited company is the best option given the liabilities involved in a storage and warehousing business. 2. Secure a premise for your business. The premise has to be zoned for commercial use. Securing a Premise Once you have secured a space, do make sure that it is current on building codes and fire safety measures. Any major renovation of the premise requires an application for a building work permit through Building and Construction Authority of Singapore (BCA). When the building works are complete, you will also need to obtain from BCA: a Certificate of Statutory Completion and/or a Temporary Occupation Permit before you can occupy the space. All renovation works are to be performed by certified or licensed contractors including architects. A business signage that is to be placed on the building will require an application of an Advertisement License from BCA. **End Summary** Topics: singapore]]> business]]> setup]]> telecommunications]]> licenses]]>]]> About the Author: ]]> If you are interested in the application of Singapore EntrePass or about Singapore Company Registration visit http://www.rikvin.com

Singapore Business Setup for Western Clinic

Mon, 01 Mar 2010 22:27:52 -0500

The licensing of medical practices in Singapore is presided by the Ministry of Health (MOH). Applications are made to Central Licensing Branch (CLB) of MOH. Singapore allows individuals with medical licenses, societies and organizations to start a medical practice. You can choose to register the medical clinic under a business entity; however, you will first have to register with the Accounting and Corporate Regulatory Authority of Singapore (ACRA). Rikvin is Singapore’s leading specialist on company formation with ACRA. We can help advise you on the ideal business structure suitable for your medical practice. Once you have establish a business entity with ACRA, you will then apply for a license with CLB. The procedure to set up a medical clinic are rigorous. The application for license and fees are to be made to CLB. Application will only be processed when the license fees and complete required documents are submitted. If you plan to have more than one branch for your medical clinic, you are required to file a separate application for each branch. MOH licenses each medical facility individually, and requires a separate license for x-ray laboratory. Each license is valid for two years. **End Summary** Topics: singapore]]> western]]> clinic]]> business]]> setup]]> company]]>]]> About the Author: ]]> If you are interested in the application of employment pass Singapore or about Singapore Company Registration visit http://www.rikvin.com

Singapore EntrePass versus Employment Pass

Fri, 26 Feb 2010 22:26:26 -0500

Singapore heartily welcomes foreign entrepreneurs, professionals, managing directors and shareholders of Singaporean companies who wish to work or who are seeking to set up a business in Singapore. For that purpose the Ministry of Manpower has allotted two passes; the Employment Pass and the EntrePass. Each has their own requirements to fulfill and involve different procedures. First off, the Employment Pass is directed towards the individual the foreign entrepreneur, and meant for managing director or shareholder in a Singaporean company. The most basic requirements include a fixed salary of more than S$2,500 each month and a diploma / degree education preferably from a recognized institutions or lots of useful working experience and specialist skills. These basic requirements fulfill the Q Pass package criteria. The P2 Pass is for those who earn a fixed monthly salary of more than S$3,500 to $7,000 with recognized qualifications. The P1 Pass is for those earning a fixed monthly salary of more than S$7,000. The more experienced or skilled the individual, the more consideration he or she will be given. **End Summary** Topics: singapore]]> entrepass]]> application]]> employment]]> visa]]> company]]> incorporation]]> registration]]> formation]]> ]]> About the Author: ]]> For more information on Singapore Company Registration or if you are interested in the application of employment pass Singapore , visit our website http://www.rikvin.com

Guide to Personal Income Tax Singapore

Mon, 22 Feb 2010 21:48:46 -0500

Taxable Income Any income that is accrued in Singapore by a person or business is subject to income tax. This means that if a customer pays you for your product & services in Singapore, or if you receive money in Singapore from your overseas sales, the money is subject to tax. Taxable income includes: income from your business, salary from employment, interest earned on your deposits and rental income. Taxation for Foreigners Working in Singapore Foreign employees working in Singapore either on work permit or employment pass will be taxed as above in Singapore unless: · The person is on short-term employment no exceeding 60 days in a calendar year · his/her earnings are exempt from tax under the Avoidance of Double Taxation Agreement As a tax resident, you will be taxed on all personal income derived in Singapore. When a foreign employee stops his term of employment in Singapore, his employer is required to inform IRAS before the termination of employment or departure from Singapore. The employer shall also withhold whatever money due to the employee until tax clearance is given. Central Provident Fund (CPF) Foreigners on work pass are exempt from CPF contributions in Singapore. **End Summary** Topics: singapore]]> personal]]> income]]> tax]]> rates]]> guide]]> information]]>]]> About the Author: ]]> Singapore Tax Article by Rikvin Singapore Company Registration or Apply for a Singapore Entrepass ? Visit http://www.rikvin.com to learn more

Filing Annual Returns of a Local Company in Singapore

Sun, 21 Feb 2010 21:34:25 -0500

Annual General Meeting Under Section 175 of the Singapore Companies Act, a local company is required to hold its first Annual General Meeting (AGM) within 18 months of its incorporation. At the AGM, the directors shall present the company’s accounts that comply with the requirements of the accounting standards and give a true and fair view of the status of the company to its shareholders. Subsequent AGMs must be held every calendar year and the interval between these meetings should not be more than 15 months apart. Audited Accounts Under Section 201 of the Singapore Companies Act, the accounts which are presented at the AGM must not be dated older than 6 months from the date of the AGM for a private company/unlisted public company, or 4 months for a public listed company. Annual Return Under Section 197 of the Singapore Companies Act, the company is required to file its annual return with the Accounting and Corporate Regulatory Authority (ACRA) within one month after the AGM. For more information on filing of Annual Return in XBRL, or visit http://www.rikvin.com/xbrl-filings.html Who Needs to File? The law requires every company to hold its AGM and file its annual return every year. **End Summary** Topics: singapore]]> filing]]> annual]]> returns]]> companies]]> xbrl]]>]]> About the Author: ]]> Singapore Business/Company Information by Rikvin Want to incorporate a business in Singapore or Singapore Entrepass needs? Learn more visit http://www.rikvin.com

Withholding Tax Singapore Guide

Sat, 20 Feb 2010 01:00:36 -0500

What is Withholding Tax Withholding tax is levied on payments made to non-residents including employees, business partners and overseas agents. A non-resident is liable to pay income tax on Singapore-sourced income. Under the law, a person has a legal obligation to withhold a percentage of the payment when he makes payments of a specified nature under the Singapore Income Tax Act to a non-resident. In the event that you make payments of a specified nature to a non-resident, you must withhold a certain percentage of that payment known as Withholding Tax. The types of payments that are subject to withholding tax are as follows: 1. Any payment listed under §45 of the Singapore Income Tax Act. 2. Types of payment include: o payment of commission fees to overseas agents o payment of director’s fees to non-resident directors o payment of professional fees to offshore accountants You must pay the withholding tax by the 15th of the month following the date of payment. Withholding Tax Amount The amount of withholding tax you have to pay depends on the type of payment you make and to whom you pay. **End Summary** Topics: singapore]]> withholding]]> tax]]> employment]]> pass]]> incorporation]]>]]> About the Author: ]]> Singapore Tax Information by Rikvin Pte Ltd Singapore Company Registration Service and Employment Pass Singapore needs? Learn more visit Rikvin.com

Guide to Tax Residence of a Singapore Incorporated Company

Wed, 17 Feb 2010 03:24:04 -0500

What is a Singapore Tax Resident A company is considered as a resident in Singapore if the control and management of the business is exercised in Singapore. Although the term "control and management" is not defined explicitly by authorities, a generally accepted consensus is that it refers to the policy level decision making at the level of board of directors and not the day-to-day decision making and operations. What is a Non-resident A company is considered non-resident in Singapore if the directors manage and control the business and hold board meetings from outside Singapore. This is true even if, for example, the lower level operations are taking place in Singapore. A company's residence may change from one year of assessment to the next depending on the circumstances. A Singapore branch office of a foreign company is generally not treated as a Singapore tax resident since the control and management is vested with an overseas parent company. Basis of Taxation The basis of taxation for a resident company and non-resident company is generally the same with the exception of certain benefits that are available to resident companies. **End Summary** Topics: singapore]]> resident]]> tax]]> company]]> residence]]> guide]]>]]> About the Author: ]]> Singapore Tax Information by Rikvin Pte Ltd Want to incorporate a business in Singapore or Apply for a Singapore Entrepass ? Visit Rikvin.com to learn more

Rikvin - Your Gateway to Singapore Business Setup and Work Visas

Fri, 12 Feb 2010 01:20:16 -0500

Singapore is fast becoming a business city of choice. With excellent business infrastructure, political stability, and close economic ties with many of the world's leading economies, there has never been better time than now for entrepreneurs to immigrate and set up their businesses in Singapore. One-stop Service Rikvin Group is a one-stop centre for your Singapore company’s pre and post registration needs including processing of Employment Pass & EntrePass applications. We are committed to serve clients around the world to successfully set up companies in Singapore and secure their Singapore business work visas. Benefits of Incorporating a Singapore Private Limited Company Newly Singapore incorporated companies pay zero corporate tax for the first $100,000 profit for the first three consecutive years! Singapore also has no tax on capital gains and dividends paid to shareholders . Many foreigners choose to incorporate private limited companies in Singapore to protect their personal assets. All profits made can be repatriated without restrictions. Singapore also offers a work visa known as the Entrepreneur Pass to serve foreign entrepreneurs who wish to establish their companies and to reside in Singapore to run their new businesses. **End Summary** Topics: singapore]]> business]]> company]]> setup]]> incorporation]]> work]]>]]> About the Author: ]]> Singapore Business Guide Article by Rikvin Apply for Employment Pass Singapore or need a Singapore Company Registration Service? Visit Rikvin.com

Lower Personal Income tax rates to increase Singapore Business Growth

Wed, 10 Feb 2010 22:26:50 -0500

How can Singapore government encourage the growth of an incipient economy whilst it continues to hone its competitive edge? Four major accountants weighed in their opinions in a recent report in The Business Times (January, 2010). All accounting experts agree unanimously that ‘Singapore's competitiveness remains a key concern’ and to draw more foreign talent to Singapore by lowering the tax rates will significantly help solve the issue. According to them, “Singapore needs to lower the top personal income tax rate - to something closer to the 17 per cent which is the current corporate tax rate - to draw more talent to its shores.” Singapore’s current personal income tax rates, especially income above S$160,000, are higher than the corporate tax rate which is 17% for 2010. Both Owi Kek Hean, head of KPMG tax services (Singapore) and David Sandison, PwC Services LLP, are convinced that it will be a huge attraction for top-notch, high-income talent overseas who are faced with the super-tax to move to Singapore. Owi Kek Hean believes the top income tax rates for individuals can be lowered to about 16% in order to stay competitive with Hong Kong. **End Summary** Topics: singapore]]> personal]]> income]]> tax]]> individual]]> lower]]> growth]]>]]> About the Author: ]]> Singapore Tax Article by Rikvin Singapore company registration or Employment Pass Singapore needs? Visit http://www.rikvin.com

Information on Singapore Property Tax

Fri, 05 Feb 2010 01:24:44 -0500

A Property tax is a tax levied on properties in Singapore. This includes all types of properties such as HDB flats, factories, offices and vacant land. If you or your business owns property, you are liable to pay property tax. The amount of property tax you have to pay per year is a percentage of the Annual Value of the property which you own. The Annual Value is the estimated yearly rent the property can fetch if it were rented out. The tax rate for owner-occupied residential property is 4% per year. The tax rate for all other properties is 10%. Property taxes must be paid by 31st January each year. The Inland Revenue Authority of Singapore (IRAS) will compute the annual tax you need to pay and send you the bill in December. Instructions on how to pay property tax are also included in your bill. Rebates, Relief, Refunds In order to help keep taxes affordable, encourage certain types of land development and meet business needs, the Government gives out rebates, reliefs and refunds to property owners. **End Summary** Topics: singapore]]> property]]> tax]]> guide]]> exemption]]> rates]]>]]> About the Author: ]]> Singapore Tax Article by Rikvin Want to incorporate a business in Singapore or Employment Pass Singapore needs? Learn more visit Rikvin.com

Singapore Personal Income Tax

Mon, 18 Jan 2010 22:58:17 -0500

What is Taxable Income Almost all income accrued in Singapore by a person or business is subject to income tax. All sales transactions that occur in Singapore or monies received in Singapore are taxable. Taxable income includes income from your business, salary from employment, interest earned on your deposits and rental income. Personal Income Tax for Foreigners Working in Singapore Foreign employees working in Singapore are considered tax resident, and therefore must pay income tax unless: * It is a short-term employment not exceeding 60 days in a calendar year; or * The earnings are exempt from tax under the Avoidance of Double Taxation Agreement When a foreign employee plans to end his employment in Singapore, his employer is required to inform Inland Revenue Authority of Singapore before termination of his employment or departure from Singapore. The employer must withhold all money due to the employee until tax clearance is given. Income Tax Returns Filing All Singapore residents who work in Singapore or have accrued income must file for income tax returns. All completed income tax returns forms are to be submitted to the Singapore Tax Department by the 15th of April each year. **End Summary** Topics: singapore]]> personal]]> income]]> tax]]> individual]]>]]> About the Author: ]]> For more Information on Singapore Individual Tax | Singapore Personal Income Tax Visit http://www.rikvin.com

Singapore Corporate Tax

Mon, 18 Jan 2010 05:03:42 -0500

Corporate Tax Singapore has one of the most competitive corporate tax structures in the world. The corporate tax structure is a pro- business package inclusive of wide ranging stimulus such as income exemptions, incentives, generous capital allowance and a wide spanning network of double taxation avoidance agreements. Here is a preview of the chief features of our tax system. Singapore resident companies are taxed on chargeable income generated in Singapore or overseas income received in Singapore. Companies are generally taxed a flat headline rate of 17% but, this reduces significantly to as low as 8.5% for small and medium sized companies with less than S$300,000 as chargeable income, due to Partial Exemption Scheme. Partial Exemption Scheme Year of Assessment - 2010 Headline Corporate Tax Rate - 17% Chargeable Income First S$10,000 - Effective tax rate is 4.25% Next S$10,001 – S$300,000 - Effective tax rate is 8.5% Above S$300,001 - Effective tax rate is 17% New Startup Companies Scheme This scheme is to help new companies in their initial years of establishment. Under this scheme qualifying companies in the first three years of filing, can enjoy an effective tax rate of 8. **End Summary** Topics: singapore]]> tax]]> service]]> accounting]]> services]]> taxation]]>]]> About the Author: ]]> Singapore Accounting Services | Singapore Tax Services http://www.rikvininternational.com

Singapore Company Incorporation Specialist, Rikvin, Offers Instant Online Help for Foreign Individua

Mon, 18 Jan 2010 04:01:59 -0500

Rikvin, an ACRA Registered service provider for BizFiling is pleased to announce the launch of its LiveHelp service. This resource allows foreign individuals to immediately chat with a Rikvin consultant, and have his queries addressed in a jiffy. Rikvin’s LiveHelp is your immediate source for Singapore company formation concerns or emigration enquiries. LiveHelp also handles your queries with utmost confidentiality. Singapore Company Formation Packages For foreign individuals, Rikvin offers several packages that are tailor-made to specifically suit their needs. For those who wish to register their business in Singapore, yet do not need to reside in Singapore, Rikvin offers a Singapore Company Setup with Nominee Director package for you. This package includes a corporate secretarial service, nominee director service, as well as other pre and post registration services. To learn more about the Singapore Company Setup with Nominee Director package, please visit http://rikvin.com/Singapore-Company-Incorporation-with-Nominee-Director-pricing.html. For foreign individuals who, in addition to forming their Singapore company, wish to emigrate to Singapore, Rikvin offers two options: 1. Singapore Company Formation with Employment Pass Application 2. **End Summary** Topics: singapore]]> company]]> incorporation]]> registration]]> formation]]>]]> About the Author: ]]> Singapore Company Incorporation and Related Corporate Services Under-One-Roof. We provide a fast online service for company incorporation, private limited company formation, business registration and full corporate secretarial services in Singapore. http://www.rikvin.com

Singapore drawing more Asian firms to set up global base

Tue, 12 Jan 2010 03:46:41 -0500

Economic Development Board (EDB) is expanding its efforts to attract global businesses to establish their headquarters in Singapore. As reported in The Business Times on 9 December 2009, EDB will broaden its strategy of focusing on the traditional G3 multinational companies and work to lure innovators and entrepreneurs from Asian countries to use Singapore as home base for their businesses. The strategy is really to "ensure a more diversified and robust range of industry sectors," said Mr Yip, chairman of EDB. Singapore is no longer just the gateway to Western markets. It also provides links to many important markets within Asia. EDB plans to capitalize on the economic growth in India and China -- and Singapore's existing ties with them -- to encourage Asian companies looking to compete internationally to use Singapore's unique position to help them cultivate a global presence by moving here. Asian businesses such as those in China and India have reached a level of maturity and are now ready to reach out to the markets worldwide. Many of these businesses are asking how to tap into the global market. **End Summary** Topics: singapore]]> company]]> incorporation]]>]]> About the Author: ]]> Rikvin is here to cater to the business needs of overseas entrepreneurs who wish to expand their operations in Singapore, from company incorporation, to accounting , bookkeeping and other business solutions. We specializes in providing Singapore Company Incorporation For more info, you can visit our website at http://www.rikvin.com Rikvin Consultancy Pte Ltd 20 Cecil St. #14-01 Equity Plaza, Singapore 049705 Contact Us at +65 9850 2083

Rikvin Offshore offers Offshore Company Incorporation

Wed, 06 Jan 2010 00:31:47 -0500

Tax shelter, confidentiality and asset protection are the chief concern of super rich individuals and corporations. Corporations and high net worth individuals are in constant pursuit to reduce their tax liability legitimately. Several international courts of law have recognized this quest to minimize tax liability as a justifiable right of individual and corporations. In the present scenario of borderless commerce and communication this pursuit is a common necessity among persons or businesses involved or wishes to be involved in international trade or investment activities. Offshore trusts and International business entities provide an ideal solution for such individuals and corporation who look for perfect jurisdictions to park their assets. Offshore business entities are sophisticated structures formed in offshore jurisdictions which provide significant tax relief or in jurisdictions which can be used in a similar fashion to a tax haven. The legislation of such jurisdiction provides for complete tax exemption and also assures absolute confidentiality to the beneficial owner who can exercise total control over their assets and earnings. **End Summary** Topics: offshore]]> company]]> incorporation]]> formation]]> registration]]>]]> About the Author: ]]> Rikvin Offshore offers a convenient way to incorporate your company. We provide a comprehensive range of services to both local and international clients. When you want to set up an offshore Company , you can rely on us to be there every step of the way for you. For more information, please visit http://www.rikvinint.com or call us at 65- 64388887

Singapore Is White and Signs Are Bright

Mon, 07 Dec 2009 05:00:14 -0500

Singapore made its way to the "White List" ( a list of jurisdictions deemed to have substantially implemented OECD standard for transparency and exchange of information) maintained by the Organization for Economic Co-operation and Development (OECD) after signing a 12th bilateral information sharing agreement with the French Government. The OECD requires a country to seal 12 such deals before it can join the white list. Earlier in April 2009, European countries and the US had launched a campaign against tax havens, in order to prevent tax avoidance efforts of citizens and businesses holding funds in such jurisdictions that were potentially out of reach of domestic tax authorities. It had "grey listed" Singapore for non compliance to information sharing standards and for lack of legislations allowing information sharing with tax authorities. Singapore will also be playing an active role in the Global Forum on Transparency and Exchange of Information, as the vice chairman of the Global Forum's Peer Review Group. Singapore parliament has also given the nod for legislative changes that allows for exchanges of information with the tax authorities of other countries where specific information is requested. **End Summary** Topics: Singapore company registration]]> singapore company formation]]>]]> About the Author: ]]>

Why Incorporate an Offshore Tax Haven Company

Fri, 04 Dec 2009 04:21:27 -0500

Why Incorporate an Offshore Tax Haven Company? An Offshore, International Company is commonly set up in a tax haven like the British Virgin Islands, Bahamas, Caymans Islands etc, where there are no corporate or personal income taxes, capital gains taxes, reporting requirements, or restrictions on company employment policies. As the “world” becomes global, fewer businesses are local and many corporations are increasing going internationalization. Corporate structuring and planning have achieved higher levels of complexity than ever before while the need for anonymity remains strong.Corporation must keep pace and be constantly on the look out for new ways to profit. One way is to have a clear understanding of the characteristics offshore foreign corporations and how they may be put to advantageous use. Offshore Companies are only applicable if you are doing business overseas and not in the country where you’re offshore was incorporated. All income derived in and from the incorporated country is normally taxable. eg. An offshore incorporation in Bahamas, doing business in Bahamas will require to pay taxes in Bahamas, where else, if the business was done in USA or Hong Kong, all profit are not taxable. **End Summary** Topics: singapore]]> offshore]]> company]]> incorporation]]> registration]]>]]> About the Author: ]]> Rikvin Offshore offers a convenient way to incorporate your company. We provide a comprehensive range of services to both local and international clients. When you want to setup an offshore Company , you can rely on us to be there every step of the way for you. For more information, please visit http://www.rikvinint.com or call us at 65- 64388887

Bank Account opening for offshore companies in Singapore

Fri, 04 Dec 2009 02:39:20 -0500

Opening of Singapore Corporate Bank Accounts for Local & Offshore Companies Rikvin can assist you with the opening of a Singapore or Hong Kong bank account. In Singapore, your bank account will either be DBS, HSBC or Citibank or any bank of your choice. Bank Account Opening for Singapore Companies Due to ever increasing compliance and regulatory requirements, most of the banks in Singapore require your personal presence of the authorized signatories and company officers in order to open a company bank account. With exceptions, some banks do allow you to open a bank account without your physical presence as long as the necessary signatures are witnessed by a notary public overseas. The minimum balance requirements for a company bank account in Singapore vary from bank to bank. The minimum average balance requirement at OCBC, DBS, UOB and Standard Chartered is $10,000 per month. A monthly service charge ranging from $15-50 will apply if the minimum balance requirement is not met. **End Summary** Topics: singapore]]> bank]]> account]]> opening]]> company]]> incorporation]]>]]> About the Author: ]]> Rikvin Offshore offers a convenient way to incorporate your company. We provide a comprehensive range of services to both local and international clients. When you want to setup an offshore Company, you can rely on us to be there every step of the way for you. For more information, please visit http://www.rikvinint.com or call us at 65- 64388887

Singapore Company Registration Agent offers high net worth client Singapore permanent residence

Mon, 30 Nov 2009 21:56:16 -0500

Singapore Company Registration Agent offers high net worth client Singapore permanent residence through Global Investor Program (GIP) You can gain Singapore permanent residence through Global Investor Program (GIP). Under this scheme, you may apply for PR for yourself and your immediate family by starting a business or investing in Singapore. Below is a simplified chart to show you the investments options and requirements under the GIP scheme: Maximum 50% of the investment amount can be invested in residential property for owner occupancy only. You can also apply for Singapore permanent residence through the Financial Investor Scheme, facilitated by Monetary Authority of Singapore (MAS) and Immigration and Checkpoints Authority (ICA) of Singapore. It is a program for foreign individuals and entrepreneurs who have minimum Net Personal Assets (NPA) of SGD$20 million, plan to invest at least SDG$5 million or its equivalent in assets in Singapore, and are also keen to establish permanent residency in Singapore. Spouses and children of these investors are also eligible for Singapore permanent residence. The minimum of SDG$5 million in financial assets shall be placed with a financial institution regulated by MAS; **End Summary** Topics: Singapore Company incorporation]]> company formation]]>]]> About the Author: ]]> Rikvin is an expert in fast online service for Singapore company incorporation , private limited company formation, Singapore company registration and full corporate secretarial services in Singapore.