What Singapore immigrants need to know about the tax system

# Singapore Immigration # Introduction Singapore has one of the simplest and most reasonable tax systems in the world, and there is no tax on capital gains or dividends obtained from enterprises. Singapore has alleviated all these tax problems by maintaining low and effective personal and corporate tax rates. There is nothing to share with you the tax system that Singapore immigrants need to know. Welcome to read!

What Singapore immigrants need to know about the tax system

First, Singapore's low tax policy.

Singapore's corporate income tax rate is fixed at 17%. There is also a 75% tax reduction for newly established companies. Singapore does not levy capital gains tax. In addition, dividends can be distributed to shareholders without tax. Individual income tax is levied by classification, and the average effective tax rate is about 6%.

2. Exemption from double taxation

Singapore has signed extensive double taxation avoidance agreements with more than 50 countries. These agreements aim to ensure that economic transactions between Singapore and treaty countries are not subject to double taxation. In addition, Singapore provides unilateral tax credits for countries that do not have double taxation avoidance agreements. Therefore, Singapore tax resident companies are unlikely to suffer from double taxation. Singapore has signed double taxation avoidance agreements with the following countries. Such as Australia, Canada, China, Britain and Japan.

Iii. 100% foreign ownership, no foreign exchange control.

Singapore allows foreigners to hold 0/00% shares of Singapore Company/KLOC. You don't need any local partners or shareholders to give you their ownership distribution to meet your own investment needs. In addition, you can bring any capital from your country to invest in Singapore companies, and Singapore has no restrictions on capital injection.

Singapore has no restrictions on the repatriation of profits to other countries. Capital gains from the sale of enterprises are not taxed. Similarly, dividends paid to shareholders are not taxed.

Singapore does not restrict the entry and exit of foreign currency. This frictionless cross-border capital flow can provide great flexibility for enterprises.

Fourth, support for start-ups.

The Singapore government has adopted policies that are very conducive to growth and innovation. It provides many grants, tax incentives and in-kind assistance programs for start-ups. In some priority industries, the government can also subsidize the labor costs of new enterprises. These concessions are applicable to both local enterprises and foreign-funded enterprises. In the past 10 years, Singapore has cultivated its own venture capital community. It is now the first choice for venture capital in Asia. By registering and locating business in Singapore, you can use these capital channels to expand your personal business.

5. Singapore enterprises have high credibility.

Singapore is regarded as a well-managed, modern, honest and rule-abiding country. This positive impression of the Singapore brand has also affected its business. By doing business in Singapore, you will send professional and high-quality signals to your customers, partners and suppliers. Their first impression of your business will be a professional, capable, honest and well-run company.

6. Singapore's financial and legal system is sound.

Monetary authority of singapore tends to supervise the financial industry in a balanced and principled way and create an open, inclusive and stable financial environment. Its financial technology innovation and development is one of the global participants. These not only have a far-reaching positive impact on financial development, but also contribute to the inclusiveness and inclusiveness of the economic, industrial and social development of island countries. Monetary authority of singapore's "proper supervision" is the main reason for the steady development of finance. At the same time, Singapore also attaches great importance to open innovation, and its highly flexible and scientific policies make Singapore the most attractive investment center in Asia.

Further reading: the road to immigration in Singapore

First, invest in immigration.

The plan aims to attract Singapore government enterprises to develop in Singapore. These methods are as follows:

1 investment. EDB will directly invest S $65,438+500,000 registered capital (risk or trust fund), which of course needs the approval of EDB.

2. Invest S $6,543,800+in the real estate project designated by the government, and then invest S $6,543,800+in the registered risk or trust fund. For EDB investment, as a shareholder, you still need to meet some conditions, at least 3 years of business experience.

3. Submit financial reports for the last three years; Meet the corresponding turnover standards (the main income in the last three years should reach more than S $654.38+million).

4. Personal net assets should reach S $6.5438+5,000 or more. This kind of immigrants have no academic requirements, the application time is relatively short, and the speed is relatively fast, which can realize the whole family immigration. The funds invested are also relatively safe, because these funds are less risky and do not need to be deliberately operated; Low taxes, this is a paradise for all enterprises.

Second, entrepreneurial immigrants.

In other words, by registering a company in Singapore, then obtaining their business licenses, and then further applying for a green card. What is needed is that you have the intention to register a company in Singapore and have management experience. To obtain a business license after registering a company, you must start a business in Singapore, and the registered company cannot exceed 6 months. The advantage of this kind of immigration is that less investment and more income.

Third, employment migration.

Also known as skilled migration, this type of migration is a relatively simple one in Singapore. The conditions to be met are relatively easy. You only need to get the OFFER from the Singapore company, and the monthly salary can reach at least 3300 yuan. You can also register your own company and hire yourself, which is also a way. This kind of immigration is the easiest way for most people to achieve, with less investment and no need for education and work experience, as long as they are employed in enterprises in Singapore.

Extended reading: the advantages of entrepreneurial immigrants in Singapore

"Tax haven" Singapore has always been a destination for Asian high-net-worth individuals to choose to transfer their property and move. In recent years, Singapore has paid special attention to the rise of Asian economy, so it constantly encourages and attracts rich people from all over Asia to invest in Singapore. Investors have achieved the goal of immigration while transferring assets, which is a win-win situation.

First, the investment environment has "three conveniences": easy to understand, easy to communicate and easy to do business.

The language and culture of China and Singapore are similar, so it is easier for enterprises of both sides to understand and communicate with each other when they cooperate. And the geographical position is superior, it is a world-class shipping and air transport hub, and international routes fly to about 60 countries and regions, connecting more than 280 cities. It also ranks among the top three in the world in cross-border trade, investor protection, starting a business and obtaining credit. As the most developed, stable and beautiful country in Southeast Asia, Singapore is not only rated as one of the most livable countries in the world, but also enjoys a good reputation internationally.

Second, "tax havens"

Singapore has abolished inheritance tax in recent years, and the advent of this policy is tantamount to attracting high-net-worth individuals to immigrate to Singapore. In addition, Singapore has become a paradise for tax evaders with its secret banking law, Asia's leading wealth management center and low tax rate.

Third, a high-quality education level.

The quality of education in Singapore has always been in a position in Asia, with the National University of Singapore and Nanyang Technological University ranking first and sixth in Asia respectively. In addition, the education level of a large number of institutions is generally comparable to that of western developed countries.