Singapore Offshore Company Registration Guide 2025

Singapore has been a premier destination for global investors, attracting those seeking to relocate as well as those establishing offshore companies to operate from abroad while maintaining a presence in the city-state. This phenomenon, known as Singapore offshore company registration, reflects the city-state’s allure to investors worldwide.

An offshore company is a company that incorporates in a jurisdiction other than where it operates or where company investors reside.

Many investors and entrepreneurs choose to register a Singapore offshore company because they consider Singapore a tax haven. Although there are bad press out there associating tax havens to money laundering and corruption using fake trusts and shell companies, Singapore implements a stringent process to prevent these scenarios.

What Is an Offshore Company?

An offshore company is a legal entity incorporated in a jurisdiction distinct from where its primary owners or operations reside. These jurisdictions—often labeled “tax havens”—offer favourable corporate tax regimes, strong confidentiality protections, and streamlined regulatory frameworks designed to attract international business. By registering offshore, companies can:

• Legally minimize or defer tax on foreign-sourced income
• Shield assets from certain domestic creditors and legal claims
• Maintain the privacy of beneficial owners via nominee shareholders or directors

Although the term “offshore company” can carry negative connotations around secrecy and evasion, reputable jurisdictions like Singapore, Labuan, and the UAE require full compliance with anti–money laundering (AML) and economic substance rules. In practice, an offshore company remains fully lawful when it:

• Conducts most revenue-generating activities outside its place of incorporation
• Maintains a physical registered office and resident director to satisfy local substance requirements
• Adheres to all reporting, beneficial-ownership disclosure, and regulatory filings mandated by its jurisdiction

When properly structured and compliant, offshore companies serve as powerful vehicles for global expansion, asset protection, and tax optimization within international legal frameworks. With one of the lowest effective tax rates globally, exemption of unremitted foreign income, and over 90 double‐taxation treaties, registering an offshore company in Singapore positions your business in a premier tax haven that maximizes profit retention and simplifies cross-border operations.

Where Can You Register Offshore Companies?

Many jurisdictions earn the label of tax haven – here are the top tax havens in 2024:

• Hong Kong Limited (Ltd)
• Singapore Private Limited (Pte Ltd)
• Labuan, Malaysia Company Limited(Co. Ltd.)
• British Virgin Islands (BVI) Business Company (BC)
• Cayman Islands Limited Liability Company (LLC)
• Belize International Business Company (IBC)
• RAK, United Arab Emirates International Business Company (IBC)

Before you incorporate offshore companies, it’s important to consider the following:

• Difficult to open a bank account
• Bad Tax planning Instrument
• Bad International Reputation

To tackle these challenges, these are the 2 jurisdictions that we would recommend with better tax planning And then consider better tax planning jurisdictions:

• Malaysia Company Incorporation offers full tax exemption for foreign source income with more than 72 tax treaties.
• Singapore Company Incorporation offers good international reputation and reliable banking system for international business.

Choosing the right jurisdiction hinges on offshore jurisdiction selection criteria such as political stability, regulatory transparency, substance rules, and banking infrastructure. Midshore options (e.g., Mauritius, Malta) blend lenient tax regimes with stronger compliance, offering a middle ground between pure offshore secrecy and onshore credibility.

Requirements to Register an Offshore Company

Registering an offshore company in Singapore in 2025 requires meeting both statutory incorporation criteria and ongoing offshore substance requirements to maintain your favourable tax and regulatory position. First, you must appoint at least one director who is ordinarily resident in Singapore—this can be a local individual or a corporate nominee service. Within six months of incorporation, you also need to engage a qualified company secretary who is a Singapore resident, and maintain a registered office address (no PO boxes) for all official communications.

In addition to these governance prerequisites, prepare the following documents and information for your offshore setup process:

• Paid-up capital declaration: Minimum S$1 (or higher if required by your service provider)
• Director(s) particulars: Passport copy, proof of residential address, and declaration of no disqualifying bankruptcies or convictions
• Shareholder(s) particulars: Names, identification, share-allocation schedule, and, if using nominee shareholders for privacy, a signed Declaration of Trust
• Company constitution (M&AA): Constitution or articles of association outlining share structure and corporate rules
• Registered office proof: Lease or utility bill confirming a physical Singapore address
• Beneficial ownership register: Details of ultimate owners for ACRA’s register of registrable controllers
• Nominee or corporate service agreement: If you engage a corporate nominee for director or shareholder roles, a formal service contract specifying fees and responsibilities

Meeting these offshore compliance requirements ensures your company not only enjoys tax exemptions on foreign-sourced income but also remains in good standing with ACRA, IRAS, and global transparency standards.

Benefits of Setting Up a Singapore Offshore Company

Singapore remains a standout offshore vs onshore company choice thanks to its best-in-class regulatory framework and extensive network of over 90 double taxation treaties. Key advantages include:

• Tax Savings: Foreign-sourced income not remitted to Singapore is exempt from corporate tax; select remitted dividends and branch profits may qualify for exemptions.
• Privacy & Asset Protection: Nominee shareholders allow beneficial owners to remain confidential, while a robust legal system insulates company assets from personal liabilities.
• Streamlined Setup & Substance Compliance: Incorporation via BizFile+ completes in 1–2 days; minimal offshore substance requirements Singapore demand a local registered office and resident director.

Beyond pure tax benefits, Singapore’s business-friendly regulatory environment and multi-currency banking facilitate international expansion. Entrepreneurs enjoy full foreign ownership, easy share transfers, and offshore banking challenges are mitigated by world-class digital account opening and transparent fee structures.

Cons of Setting Up a Singapore Offshore Company

While there are plenty of benefits, there are also cons associated with this company type. These include:

• Inability to lease a property in Singapore
• Potential for double taxation as they are not covered under double taxation treaties
• Unable to employ any staff to operate the company
• All income remitted to the corporate bank account is taxable at 17%
• High Costs: Professional fees for incorporation, corporate secretarial services, and ongoing compliance often exceed those in traditional tax havens.
• Strict Compliance Requirements: Companies must adhere to AML/KYC regulations, maintain economic substance, file annual returns, and update beneficial-ownership registers.
• Limited Local Operations: Offshore entities cannot trade domestically without additional licences, and any income remitted into Singapore is taxed at a flat 17% corporate rate.

Moreover, reputational considerations matter: the “offshore” label can prompt extra due diligence from bankers and partners. Comparing onshore vs offshore cost reveals that while offshore offers tax relief, onshore setups may win on credibility and immediate market access.

Top Industries for Offshore Companies

Certain sectors derive outsized benefits from an offshore structure, including:

• Financial & Investment Services: Hedge funds, family offices, and asset-management firms leverage privacy and treaty networks.
• International Trading & Shipping: Entities trading across borders use offshore status to avoid double taxation and simplify logistics.
• Intellectual Property Holding: Tech and biotech firms consolidate patents offshore to optimize royalty flows.
• Consultancy & Professional Services: Global consultancies benefit from flexible ownership and liability protection.

Other prominent niches: real estate holding, ship management, and digital startups with global customer bases. These industries exploit Singapore’s offshore vs midshore jurisdiction advantages—balancing tax efficiency with regulatory credibility.

How to Kickstart Your Singapore Offshore Company Registration?

To register an offshore company in Singapore, you complete the process online via the BizFile+ portal managed by the Accounting and Corporate Regulatory Authority (ACRA).

Since logging into BizFile+ requires a SingPass ID, foreign companies may need to enlist the services of a registered filing agent (such as a law firm or accounting firm) to establish the offshore company in Singapore.

The following information is generally required to register an offshore company in Singapore:

• Name of the proposed company
• Brief description of business activities
• Shareholders’ particulars
• Directors’ particulars
• Registered address of the company
• Company secretary’s particulars
• Company constitution
• Any other documentary requirements as may be required by the registered filing agent

Aside from the above checklist, detailed below are the key pointers and regulations that every offshore company in Singapore has to comply for a successful incorporation.

• At least 1 of the offshore company directors must be ordinarily resident in Singapore. Directors must be at least 18 years old and must not have been an undischarged bankrupt or convicted of any offence involving fraud or dishonesty.
• The offshore company must have a registered office physically in Singapore where communications or notices may be addressed.
• The offshore company must appoint a Singapore resident to act as the company secretary within 6 months of incorporation.

Steps After Setting Up an Offshore Company

You will use this company registration number as your unique identifier when dealing with government bodies. There are a few things to do after registering the offshore company:

1. Setting up your corporate bank account

To ensure smooth financial operations, every business should establish a corporate bank account.  You can now open a corporate bank account online without needing to travel to Singapore.

2. Adhering to annual compliance & filing

Since the newly formed Singapore offshore company is a separate legal entity from its shareholders or parent company, it must fulfill all required compliance tasks, such as preparing financial statements and filing annual returns.

3. Corporate tax filing

Every offshore company must also register with the Inland Revenue Authority of Singapore for its corporate tax filing.  There are some tax exemptions for start-ups that you can leverage on – you can read more about tax benefits and reductions here.

Conclusion

Ultimately, everyone with individual assets to protect, or doing business, can legally benefit from offshore companies. Benefits can come from selected jurisdiction’s tax regime, legal framework, industry niches or strategic geographical advantage. If you’re entering the Southeast Asian market, talk to us to find out which jurisdiction your company should set up in to optimise your business.