Singapore

Singapore is the major financial centre in the Asia Pacific region that is not controlled by a large country. The Singapore government is continuously improving the benefits of using Singapore as a financial centre. Most international banks have a presence in Singapore. It has overlapping business hours with Europe and the American West coast. Many Swiss banks now claim that banking secrecy in Singapore is better than in Switzerland.

Financial institutions in Singapore (including trust companies and other professionals) have to have full details of their clients but they are also under stringent obligations not to provide this information to third parties. This is highlighted by the fact that employees of Singapore institutions may be held personally liable if they break the confidentiality rules.

Our clients generally use Singapore companies and trusts (with dedicated trustee companies) for their international business and investment. Investment income generated and received outside Singapore is not taxed in Singapore. There are some changes in the interpretation of Singapore tax law which make it possible to bring income earned outside Singapore into Singapore and use the financial facilities of the country.

We do not have a Singapore trust company license and use the services of a licensed company if required.

Advantages of using this jurisdiction are that New Zealand does not look like a "tax haven" such as BVI, Samoa, Cyprus, Jersey, etc., and that it is generally regarded as a high tax paying country. We generally prefer to use these off-shore jurisdictions, if need be, behind the on-shore structures.

Please contact us to obtain more information on Singapore Trust and Companies.


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