Singapore and its numerous offshore companies provide a haven for many high-net-worth individuals who want to protect their assets. Billions of dollars are currently vulnerable to unwanted claims from creditors, lawsuits, ex-spouses and even government agencies. Millionaires and Billionaires around the world are finding ways to hide their wealth from such money predators. One of these solutions is starting an offshore company; Singapore offshore companies provide a great depth of protection for many wealthy families around the globe. Here’s how it’s done and the reasons why you should choose Singapore as your asset storing haven.
Hidden and Protected
Singapore offshore companies offer you anonymity which hides your identity and your assets from unwanted search parties. This anonymity is possible through the use of a Nominee. A nominee is a person who represents you or takes your place in public. It can be a director or a shareholder, and he or she acts under your directions. Here’s an example so you can understand how it works and why HWNI chose to do it.
“Mr Chua decides to hire the service of a secretarial company in Singapore. This secretarial company helps Mr Chua start his business, and because Mr Chua wanted to be anonymous, the company hires a Nominee director in the name of Ms Yu. The Nominee director appears as the company’s director and owner on paper, but the true owner of the company and its beneficial owner is Mr Chua. Ms Yu then signs a power of attorney and a declaration of trust stating that she is only acting upon the instruction of Mr Chua. All decision and operating power rest on Mr Chua, but he is hidden from the public eye and protected from any asset search because the company is not in his name but Ms Yu’s.”
An offshore company hides your involvement and ownership of the company so even if a government agency or your ex-spouse’s detective does a search, he or she won’t find anything concerning your company. This is because the power of attorney and the declaration of trust your nominee signs and gives you is confidential, it’s just between you, the nominee and the company that hired him or her, no one can get wind of them unless you disclose it to the general public.
A Singapore offshore company will allow you to purchase real estate under the company’s name, which stays true to your intent of remaining anonymous. You can also choose to sign all the company documents in your name, or you can have your nominee sign it for you.
Singapore is an established world financial centre and it’s ranked as one of the safest banking sectors in the world. Singapore also boasts of strict banking secrecy laws, and it’s currently being dubbed as the “New Switzerland” in terms of keeping HWNI’s money protected and hidden.
Company formation is also easier in Singapore, allowing anyone who has the capital to start their enterprise with the help of secretarial companies.
Guided Singapore Company Registration
Secretarial Companies in Singapore will help you start your offshore company by doing all the Singapore company registration for you. From starting up your company to fulfilling your requirements, and up to hiring your corporate secretary. They do it all for you. This process makes company incorporation more efficient, productive and quick.
Overall, Singapore can protect your assets and your identity by giving you the power of safe banking and anonymity, so you don’t have to worry anymore about those money hungry creditors or your ex-spouse from getting their hands on your hard earned fortune.
Are you looking for a Singaporean company to help you incorporate your business in the country? Give us a call or ask us a question, we’ll be glad to lend you a hand.