History of Singapore

A city-state in Southeast Asia, Singapore comprises 64 islands, the largest of which is the highly urbanised Pulau Ujong. Singapore is a true economic success story. Since gaining independence in 1965 the country has become one of the most developed nations in the world despite having very few natural resources. Nicknamed ‘the Garden City’, Singapore has a dense vegetation despite the high population density. The country is also called “the Switzerland of Asia” for its high standard of living.

Singapore as an Offshore Centre

Singapore is an offshore destination that enables a large variety of activities, and ensures a good brand image. As a general rule, the preferred type of offshore company is the Private Limited Company, whose registered office must be located in Singapore. No minimum share capital is required, and setting up a company can be simplified by opting for a Ready Made (or Shelf) company. This means that you select from a number of companies that have already been formed in order to decrease waiting time. Holding companies are also often based in Singapore and are easy to establish.

Singapore Summary

In Singapore nominee Directors may be engaged to protect the privacy of the company’s managers and control structure. Singapore is a popular destination for company formation and offshore banking.

Types of Singapore Companies

Creating a company in Singapore is fast compared to the rest of Asia and takes around three days

An LLP is an integrated partnership which takes the form of a company with two partners governed by a contract. These partners can be either natural or offshore companies. This type of company does not have shares, but is instead an equal partnership. The LLP structure usually consists of two offshore companies, which is located for example in Belize and the British Virgin Islands, Hong Kong and Gibraltar or if the company is more concerned with the reputation.