Singapore Offshore Banking
Singapore Offshore Banking and Tax Regulations
One factor that makes Singapore ideal as an offshore banking site is its tax regulations on foreign account holders. Interest earned by foreign individuals on bank deposits, overseas income and Singapore-based investments are tax-exempt. Individuals with accounts in Singapore are also free from capital gains taxes and estate duties on deposits and investments.
Singapore bank accounts can also be maintained in all major currencies, allowing for a wider range of account options for individuals from all over the world. Bank accounts may also be opened in the name of corporations or trusts, allowing individuals great flexibility in asset reporting.
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