Singapore Counters Black Money Censure

br />Singapore has developed into a robust regional financial hub in just over four decades. This is in part due to its high standards of financial regulation as well as its pro-business environment that is backed by sound corporate governance.

While Singapore’s central bank, the Monetary Authority of Singapore (MAS), allows well-managed risk taking and offers deep and liquid capital markets, it continually assesses its policies to ensure financial stability and soundness. MAS also has an anti-money laundering and countering the financing of terrorism framework (AML/CFT).

The Singapore government also maintains an attractive Singapore corporate tax to attract and retain bonafide companies, including over 4,000 Indian companies in the republic. However, it does not tolerate tax evasion and other crimes that undermine its laws.

Singapore privacy laws for example, provide the right to confidentiality of information to bank customers. Standard for Exchange of Information, an important tool in fighting non-compliance with the tax laws in an increasingly borderless world.

“All these measures ensure that the foundation for setting up companies in Singapore are sound. Between 2001 and 2011, the only 3% of Singapore’s overall investment outflows worth US$316 billion were channeled to India...Asiabiz Services is a Singapore-based consultancy that offers business solutions for both local and foreign professionals, investors and entrepreneurs. Our areas of expertise include Singapore company registration, incorporation, offshore company setup, accounting, taxation and other related corporate services. Asiabiz Services also provides Singapore work visa and immigration services for foreign professionals wishing to relocate to Singapore.

120 Telok Ayer Street, Singapore 068589
Phone: +65 6303 4614
http://www.asiabizservices.com

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