Singapore is located at the southern tip of Peninsular Malaysia.One of the original tiger economies, Singapore is now a majorinternational financial and trading centre that rivals Hong Kong asthe world''s biggest container port. Singapore has a reputation forbeing highly regulated, while in reality, it is a carefullyadministered jurisdiction.

For further information, please visit the governmentwebsite.

Law & Taxation

Singapore has a British based legal system and corporate lawoperates on the common law basis. Singapore is a signatory to anumber of double tax and investment protection treaties whichprovide some tax planning and security advantages. A Singaporecompany with external investments that are correctly structured andadministered may not be liable for tax on profits generated fromactivities conducted outside of the country. From Year ofAssessment (YA) 2008, companies are taxed at a flat rate of 17% ontheir chargeable income. A newly incorporated company thatsatisfies the qualifying conditions can claim full tax exemption onthe first $100,000 of normal chargeable income (excluding Singaporefranked dividends) for each of its first three consecutive YAs.Estate duty was abolished on 15 February 2008.

Please consult your tax accountant to fully understand how andwhen the exemptions apply.

Corporate Requirements

Each Singapore company must have a local registered office whichmust be a physical address and not just a Post Office box.

Each company must have at least one director. A Corporatedirector is not permitted and the director must be either aSingapore citizen, a permanent resident or an employment passholder.

For incorporation purposes, an individual subscriber ispreferred. Thereafter, the share may be held by a corporateshareholder (i.e. holding company). Bearer shares are notpermitted. Each private limited company must have a local companysecretary and maintain accounts which must be audited by a localauditor. A qualified local company secretary is only required for apublic company. A sole director may not act as the companysecretary.

The current law allows an exempt private company to be exemptedfrom audit requirements in respect of a financial year, providedits revenue in that year does not exceed SGD5 million. This rulingapplies for financial years starting on and after 1 June 2004.

Details of the company''s directors, shareholders and secretarymust be filed with the Registry of Companies and are on publicrecord.

Each year, the company must submit an annual return togetherwith audited accounts (unless exempted). Penalties apply for latefilings.

Subject to the Companies (Amendment) Act 2004, private companiesmay dispense with the Annual General Meeting.

Local Infrastructure

Singapore is a sophisticated international business andfinancial centre and as such, there are numerous domestic andglobal banks, stockbrokers and finance houses. All the majorinternational legal and accounting firms have offices in Singapore.Singapore has a stable government and a rich pool of professionalswho are able to assist in all international businesstransactions.

Supported by an airport that serves as a regional hub for over100 destinations, state of the art communications and a soundinfrastructure, Singaporean companies are well positioned to takeadvantage of its many tax treaties.

How We Can Help You

SKO has standard shelf companies, and those with LandDealings Unit (LDU) clearance certificates that are meant foracquisition of local residential properties, available forimmediate purchase. We can also incorporate a company with yourchoice of name and also confirm the availability of names inadvance. All companies are provided with a complete company kitthat includes share certificates, 5 copies of the M&A,statutory registers, common seal, company chop and a certificate ofguarantee of quality. Our package will also include the preparationof documents for the initial secretarial requirements and change ofdirector and shareholder.