1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Singapore Company Formation

Discussion in 'Business & Tax Advice' started by richardleb, Dec 21, 2015.

  1. richardleb

    richardleb Power Member

    Joined:
    Oct 2, 2014
    Messages:
    585
    Likes Received:
    135
    Occupation:
    Student
    Location:
    www
    Hi all,
    i would like to start a company in Singapore and found out that www.guidemesingapore.com
    offers a complete service,

    well, would you recommend it? What do you think about this website at first glance? Is it trustable?
     
  2. pseudonym

    pseudonym Regular Member

    Joined:
    Feb 26, 2008
    Messages:
    343
    Likes Received:
    81
    Occupation:
    中国梦
    Location:
    一带一路
    which issue are you attempting to solve? "just" having an sg company will do nothing for you. you could also "just" register a UK one online for 60 pounds...

    what is the underlying issue you are trying to solve?
     
  3. Paranoid Android

    Paranoid Android Jr. VIP Jr. VIP

    Joined:
    Jun 20, 2010
    Messages:
    1,718
    Likes Received:
    2,432
    Gender:
    Male
    Occupation:
    Pantie Thief
    Location:
    Native America
    a couple of days you pinged me about HK company? you jumped to sg already :eek:

    Its hard, real hard, you need a local director who charges you an arm and a leg and a testicle for a year's fee, and the auditing requirements are crazy in singapore. go with HK unless you have got millions in turnover.
     
    • Thanks Thanks x 1
    Last edited: Dec 22, 2015
  4. Ralph Urner

    Ralph Urner BANNED BANNED

    Joined:
    Jun 24, 2014
    Messages:
    254
    Likes Received:
    118
    Now since there is auto info exchange between OCED nations, your options are really slim.
    Unless you have a team of lawyers, you'll get caught and put in prison for tax evasion.
     
  5. AquaticGamer

    AquaticGamer Jr. VIP Jr. VIP

    Joined:
    Apr 13, 2013
    Messages:
    4,800
    Likes Received:
    1,705
    Gender:
    Male
    Location:
    http://InstaGrowth.AQSocials.com
    Home Page:
    Are you trying to start a local store or an online business in singapore? If it's a local company you just have to register for a business on the online government website and once you have that you can just rent a location and start selling it's not that difficult.
     
  6. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

    Joined:
    Mar 19, 2010
    Messages:
    3,813
    Likes Received:
    976
    Gender:
    Male
    Home Page:
    If you can get a complete service in Singapore you may go for it.. there are other jurisdictions cheaper :)
     
  7. SEMWORLD

    SEMWORLD BANNED BANNED

    Joined:
    Nov 21, 2015
    Messages:
    1,235
    Likes Received:
    219
    Okay, You can do it. Because you decided that it will reasonable for you. I checked these site. It's good, really good but it'll hard to carry on. So take care.
     
  8. Paranoid Android

    Paranoid Android Jr. VIP Jr. VIP

    Joined:
    Jun 20, 2010
    Messages:
    1,718
    Likes Received:
    2,432
    Gender:
    Male
    Occupation:
    Pantie Thief
    Location:
    Native America
    bullshit

    google has Google Ireland Limited incorporated in Bermuda, passed 11 billion $ to bermuda in total last year, 0 tax, nothing happens to them. if he holds the money in his name in an offshore bank hes in trouble, but not so when a company holds the money
     
  9. I-marketer

    I-marketer Power Member

    Joined:
    Jan 31, 2013
    Messages:
    501
    Likes Received:
    155
    HK is easier&cheaper to incorporate than Singapore.
     
  10. richardleb

    richardleb Power Member

    Joined:
    Oct 2, 2014
    Messages:
    585
    Likes Received:
    135
    Occupation:
    Student
    Location:
    www
    Thank you for all your replies.
    Honestly i am taking in consideration every opportunity and btw i have an online business.
    I don't need a local store because i can travel anywhere and working from my smartphone at same time. Which option should i consider most to pay taxes and stay legal?
     
  11. Ralph Urner

    Ralph Urner BANNED BANNED

    Joined:
    Jun 24, 2014
    Messages:
    254
    Likes Received:
    118
    Your comment is pointless,
    Google has team of lawyers and their company structure allows them to take advantage thru transfer pricing.
    I am speaking for EU, things don't work like that here. You can't just incorporate offshore and get 0% tax.

    If you are really an American, I am sure you are aware of FACTA. You can't just incorporate offshore being an American, you pay taxes in US.
     
    Last edited: Dec 21, 2015
  12. pseudonym

    pseudonym Regular Member

    Joined:
    Feb 26, 2008
    Messages:
    343
    Likes Received:
    81
    Occupation:
    中国梦
    Location:
    一带一路
    richardleb, what matters most in post-31 december tax planning is the location of your physical body... the location of your bank, your website, your company, your whatever all do not matter very much anymore after 31 december. after 31 december the only thing you can do is locate your physical body somewhere favorable. or have children who were born in brazil, chile etc., do not claim eu citizenship and own everything under their name. and similar solutions...
     
  13. BuildMoreLinks

    BuildMoreLinks Jr. VIP Jr. VIP Premium Member

    Joined:
    Jun 7, 2012
    Messages:
    2,032
    Likes Received:
    684
    is this company formation in SG only for tax saving? moving money offshore? or you want local business setup in SG? need some more details.
     
  14. richardleb

    richardleb Power Member

    Joined:
    Oct 2, 2014
    Messages:
    585
    Likes Received:
    135
    Occupation:
    Student
    Location:
    www
    First, i wanna be completely white hat. I want to pay taxes and if i can choose a country even if i'm not a resident, that's even better.

    I was thinking about setting up in SG or HK or UK, but every option is welcome.

    I don't need to set up a local business because i sell digital products in some different ecommerce sites.

    Where will i be physically located? Well, that's hard to say. I'll be in eu for the next 3 years (i'm eu citizen) but i plan to travel anywhere in the world with my business set and running.

    Thank you everyone for helping.


    Edit:
    for example, this solution is very appealing to me: https://www.rapidformations.co.uk/package/non-residents/
    But i don't know how to proceed and mostly if i can trust these kind of websites.
     
    Last edited: Dec 21, 2015
  15. pseudonym

    pseudonym Regular Member

    Joined:
    Feb 26, 2008
    Messages:
    343
    Likes Received:
    81
    Occupation:
    中国梦
    Location:
    一带一路
    you will be sought to be liable for taxation based on your own personal physical body is. not where you have registered or opened a company, website, payment processor etc., i have told you this many times now. germany will keep asking you to pay tax as long as they see that you are renting something there. explaining that you own a financial vehicle on the other side of the world will not remove your german tax liability
     
  16. Paranoid Android

    Paranoid Android Jr. VIP Jr. VIP

    Joined:
    Jun 20, 2010
    Messages:
    1,718
    Likes Received:
    2,432
    Gender:
    Male
    Occupation:
    Pantie Thief
    Location:
    Native America
    AFAIK, if you got a company in HK, and that company raises invoices and does normal business, you are liable to pay taxes only in HK. You most certainly have to pay taxes on your dividends in Germany, but the comapny's profits are the comapny's money and the jurisdiction of that company is Hong Kong.

    Germany can ask you for taxes if you run your business sitting in Germany, collecting money in Germany and stashing it away in a financial vehicle in Hong Kong. Thats going to get you into trouble, but not on the money that a Hong Kong company makes by invoicing clients or trading out of Hong Kong.
     
  17. pseudonym

    pseudonym Regular Member

    Joined:
    Feb 26, 2008
    Messages:
    343
    Likes Received:
    81
    Occupation:
    中国梦
    Location:
    一带一路
    this is the part he doesn't understand. no matter where in the world he registers companies, runs payment accounts or moves money, ... as long as his physical body is consuming resources in Germany, the German government will want to know what pays for these resources (rent, groceries) and tax him fully. as it will not be considered business or employment income, but simply "from other sources" which carries the absolute highest tax rate. guy doesn't know what he's beginning!
     
  18. Paranoid Android

    Paranoid Android Jr. VIP Jr. VIP

    Joined:
    Jun 20, 2010
    Messages:
    1,718
    Likes Received:
    2,432
    Gender:
    Male
    Occupation:
    Pantie Thief
    Location:
    Native America
    the company pays him a salary or dividend. Dividend taxes are usually lesser than income taxes. Germany definitely is not going to claim taxes for the money earned by the company in Hong Kong, the german national only pays taxes on the money he gets from the company and not all the money the company makes. So if the company makes 5M and he pays himself a salary or dividend of 100k, he pays taxes only on the 100k and the remaining 900k remains in HK.He can use that money to buy a house in the UK or USA in the comapny's name, but not Germany as thats where he's been living in. I suggest you do more reading on how people do it.
     
  19. Ralph Urner

    Ralph Urner BANNED BANNED

    Joined:
    Jun 24, 2014
    Messages:
    254
    Likes Received:
    118
    As company is wholly owned by OP, he will be taxed in Germany as he is a German tax resident.
    It would be different if OP owns less than 50% of the company.

    German government will use double taxation and take the cut.
    If OP is taxed in HK at 0% rate, he will be asked to pay the tax at DTAA rate to the German government.
     
  20. kekmaw

    kekmaw Junior Member

    Joined:
    Dec 19, 2014
    Messages:
    132
    Likes Received:
    35
    This is what I will do in early 2016.
    I'm from a EU country where I don't need to pay tax in if I'm not a resident there.

    So I will become a non resident -> go to HK, open up biz and bank account -> live as a nomad for a while = 0% corp tax and 0% income tax.