Case:

Client owns a multinational company and offshore companies around the globe. His company account in Hong Kong was frozen & closed by the bank.

Brief Facts:

Client intended to set up Singapore corporate account initially. Then realized the (17%) low corporate tax rate in Singapore, and with an operating active company, it is considered an active entity, client will only have to pay tax in Singapore. And any dividends, profits from foreign branches and income earned abroad can also be tax free.

Our Approach:

GLOBEVISA Group assisted our client to set up a full tax plan, including an active company, taxpayer identity number program, corporate account and personal account for depositing company income. Also, we prepared all necessary document for Singapore company registration and account opening, including business plan, personal// company profile, KYC documents legal secretary for company daily operation.

Result:

With our attestation service, client did not have to land in Singapore at all. The full package involves: Company registration 1 week; personal account 3 weeks; corporate account 1 week; TIN- taxpayer identification number 8 Days. And everything was set up within 3 weeks. And Client is now enjoying GLOBEVISA free account usage advising service, to consult our professionals before any account operation in order to avoid account freeze.