Incorporation of a company in Gibraltar with personal and corporate bank account in Singapore – from 7699 EUR

The package service offered by our specialists at Offshore Pro Group “Incorporation of a company in Gibraltar with personal and corporate bank account in Singapore” embodies two beneficial solutions in one, which you will be able to use within very short period of time. Today, Gibraltar companies are very popular among foreign investors due to the country’s loyal tax laws, European status, speed and accessibility of registration procedures. Non-resident companies are not entitled to keep their funds in Gibraltar. Therefore, opening an account with a Bank of Singapore is the best solution.

The current pandemic outbreak particularly emphasized the need to take emergency measures in order to diversify and protect your assets without leaving home and avoiding direct physical contact with potential virus. The most prudent decision would be to open multiple bank accounts in those banks where deposits are insured by the state (for an amount not exceeding the amount of insurance). This epidemic will end, but, undoubtedly, there will be new calamities and challenges awaiting the mankind, and it is better to be prepared in case of any developments. Use our services and open an account as well as register a company remotely!  To learn more about registering a company in Gibraltar, contact our specialists by e-mail at [email protected].

Why is it profitable to incorporate a company in Gibraltar?

Although Gibraltar is a British overseas territory, still it carries out its own domestic politics. That is, the parliament of the jurisdiction deals with tax issues. Laws, of course, harmonized with the British legislation framework, but with a particular focus on the specifics inherent to the economy in Gibraltar. Revenue sources of this jurisdiction are mainly through tourism and the financial sector. Today, more than 60 thousand companies are registered in Gibraltar.

A non-resident who incorporates a company in Gibraltar, will enjoy the tax – free benefits for the incorporated company. This is the method adopted by the government of the country to attract foreign investors. Thus, the owners of a non-resident company will be relieved from payment of VAT, inheritance tax, as well as taxes on dividends, capital gains. Moreover, the country does not implement currency control.

A non-resident Gibraltar company can be а complex solution for protecting your assets, investments, increasing capital, and optimizing taxes. It is possible to use the services of a nominee service, however, information about the current owner should still be provided to the registrar. If you are sensitive about the privacy matters, you will not have to worry, as the data will not be available in the public domain. Such information can only be accessed by court order. 

Which are the criteria for the company to be considered as a non-resident?

For a company to be considered non-resident, it should meet a number of requirements. So, the company’s beneficial owner cannot be a person who resides in the country on a permanent basis. To prove the place of residence, all shareholders, directors and beneficiaries need to provide receipts for utility bills, bank card statements for the last three months.

The company has no right to trade or conduct other activities in the territory of Gibraltar. Also, the company cannot provide services to the population of Skala (another name of the jurisdiction), or have funds deposited in local banks.

A non-resident company is required to register an office in Gibraltar and hire a resident secretary. The minimum requirement for shareholders and directors is to have one each (this can be either a legal entity or an individual).

How to incorporate a company in Gibraltar

To start the process of registering a company in Gibraltar, you will first of all be required to collect a package of documents. Among them are an application-questionnaire, certified copies of the passports of beneficiaries, directors, shareholders, documentary evidence of their place of residence, business plan, etc. 

To learn more about registering a company in Gibraltar, contact our professionals by e-mail at  [email protected].

Services which are included in the price:

• Company registration;
• Providing a registered office in Gibraltar for a year;
• Provision of services of a resident secretary for a year;
• Filling in annual reports ;
• Nominee services for the year.

All services provided for a year can be extended by individual agreement. The time period required for registering a company is 5 business days after all documents have been submitted and payment made for services.

Corporate bank account at Singapore with a visit

The Singapore financial sector is rightfully considered as one of the most reliable and developed in the world. In total, more than 100 banks operate in Singapore, the activities of which are regulated by Monetary Authority of Singapore (MAS). Singaporean banks are often compared to Swiss banks due to the high quality of service, confidentiality, reliability and customer centricity. Yet, opening an account with a bank in Singapore for a non-resident company is easier than it is in Switzerland. The bank, which we offer you to cooperate with, has been doing business in the financial market since 1935; currently this financial institution has branches in twenty countries.

Opening an account with a Bank of Singapore allows a foreign investor to improve their business status and gain access to popular financial instruments and services.

What other advantages await a foreign account holder:

• Reliable protection of assets ;
• Access to funds from anywhere in the world by means of plastic cards;
• Reasonable prices and the absence of contingent commissions;
• Access to a concierge service .

It should be borne in mind, that in order to open a corporate account at a bank in Singapore, it is necessary to have personal accounts opened by authorized representatives of the company. For these purposes, they will have to personally visit a bank in Singapore or at a branch located in another country.

Main tariffs offered by the bank

You will not have to pay for account maintenance during the first year. Further, if account balance exceeds 2400 SGD, then service will be free of charge again. If annual balance falls below the said amount, a 36 SGD fall-below fee will be charged. The minimum initial deposit is SGD 1000. You will have to pay SGD 500 for setting up an account. Cash withdrawal in countries where there are no bank ATMs will cost 5 SGD. 

How to open a bank account in Singapore

Our experts will help you open a personal as well as a corporate account at a Singapore bank. To this end, you will need to prepare the following documents: copies of passports, a description of the scope of activity, completed banking forms, documentary proof of the address of residence, constituent securities of the company. Please contact us at [email protected]  for more details.  

Personal account opening dates range from three to five days. The time period for opening a corporate account is usually up to one month.