Incorporation and Offshore BusinessDisclaimer: Not legal or tax advice foryour situation. Talk to a tax attorneybefore taking action.
Essential PartsLawGoverning the jurisdictionSpecific to that State or Country• Paper– Registered Office– Legal documents (Static)– Bank Account– Accounting Records / Meetings / Minutes (Dynamic)• People– Secretary– Director– Shareholders / Members– (treasurer, vice president, BOD, etc.)
Why Form a Company?• -ability to open a corporate bank account• -privacy• -strong asset protection• -professional appearance• -debts, assets, licenses, contracts, can bemade or held by the legal entity• -liability is limited, and you distanced from theactions of your business
More Benefits• -banking/investment opportunities otherwise notavailable• -planting of a flag in a strategic location• -mitigation of sovereign risk• -protection from bankruptcy, lawsuits, divorce,civil unrest, and other ‘worse case scenarios’• -access to higher risk merchant accounts• -access to funding or investment capital• -visas, Passports, and more…
Legal Entities• C- Corp (Company limited by shares)• LLC (company limited by partners interest)• IBC International Business Company• Pte. Ltd. Company limited by sharess– With NO liability protection: sole proprietorship,– Others not covered… LLLP, APT, Trust
Wyoming LLC• No state tax• Simplicity• Privacy• Strong asset protection• Cheap• Key Components– Operating Agreement– Good Standing (access online)– Articles of Incorporation
Delaware C-Corp• Best State in the US for Corporation• Fortune 5000 companies start here• Ideal for raising money in Silicon Valley• The only company for going public– Americans can elect S-Corp (limited to 100shareholders)– Foreigners can only elect C-Corp (corporatetaxation)
Belize LLC• No country tax• Simplicity• Privacy• Strong asset protection• Cheap• Key Components– Operating Agreement– M&AA– Articles of Incorporation(very similar to Wyoming LLC’s)
BVI IBC + Hong Kong Bank• Why a British Virgin Islands Internationalbusiness company? Not a Hong Kong Co?• BVI Company– Paired with Hong Kong Bank AccountOR…– Singapore Bank Account
The Best For Last…• Requires local director• Requires local secretary• No tax on first 3 years (<100k turnover)• Employment passes and visas possible• Banking Opportunities• High level of credibility
Singapore: The Best Place in the Worldto Start a Business.
• Singapore Upsides–Entrepass–OPM–Company Law–Quality of Life• Downsides–Beer = S$5 = $4 US Dollars–More Expensive to Baseline
Entrepass• Citizenship within 4 years is possible– Entrepass– PR– Citizenship and Passport• Incorporate Company– Capitalize with 50,000– Spend 100,000 per year– Hire 2 Singaporean Employees
Venture CapitalAngel Investors ($50,000 to $250,000)Incubators ($15,000 to $150,000)• Government Money– Numerous Grants $50,000– Spring Seeds $250,000– Spring TECS $250,000 POC $500,000 POV– TIS NRF $589,000• Private Equity ($1M to $5M)
SG OPM PLAYBOOK• Every Investment Firm In Singapore• 30+ Angels• All NRF TIS Incubators• 15 Seed Funds• Private Equity• All levels of Venture Capital• All Contact Details including personal names andemails of directors as well as linkedin• Template Emails – Well Organized with specific noteson typical size of investment and particular areas ofinterest