There are many reasons why investors and entrepreneurs choose to set up an offshore company. Here’s a quick list:
The best way to illustrate this is through some good ol’ storytelling. All characters in this narrative are fictional although it could very much happen to you in real life.
John from Australia: Practices asset protection by purchasing property using his offshore Singapore company. One day, he had a personal lawsuit filed against him. Another day, he went through a divorce with now ex-spouse. Luckily for John, his assets are protected from his plaintiffs, ex-spouses, or anyone else that may be out to get him.
Eric from America: Has successfully sold his FinTech company and would now receive a large sum of money. Eric will use his offshore Singapore company to receive his gains from selling his company. Thanks to the amazing tax regime Singapore has, Eric avoids capital gains tax.
Mary from China: Runs a successful international shipping business through her offshore Singapore company. She enjoys an Exemption of international shipping profits.
Jane from United Kingdom: Uses her offshore Singapore company to benefit from the 90 tax treaties we have. Thanks to the good international reputation Singapore has, she has been experiencing operational efficiency with banks more willing to accept them. When come a day of legal dispute, Jane would be relieved to have access to the established legal courts in Singapore.