Corporate Service
Introduction to Individual Income Tax in Singapore
Introduction to Individual Income Tax in Singapore Singapore has one of the lowest tax rates in the developed countries and is considered as “a global legal tax haven”. Singapore’s low tax rate, and its favourable tax policies, stable living environment have made the Singapore business environment even more attractive to global investors. The highest corporate income tax rate in Singapore is 17%, the highest Individual Income Tax rate is 22%, and there are no capital gains or inheritance taxes. This article will give a brief introduction to the tax principles, tax rates, the definition of tax resident and the filing requirements of Individual Income Tax in Singapore, and will be provided as a reference for Kaizen’s clients who are considering investment and immigration to Singapore. In revising this article, we have taken into account the laws and regulations in force as of 28 February 2020 and the relevant policies […]
Vietnam Company Annual Compliance Requirements and Fees
Vietnam Company Annual Compliance Requirements and Fees This guide provides a summary of the various maintenance and compliance requirements for the Vietnam Company that incorporated in accordance with the Vietnam Investment Law 2014 and an estimation of the costs likely to be incurred to comply with those requirements. Section 1 is about the preparation of the monthly financial statement of the Vietnam Company. Every Vietnam Company is required to prepare a financial statement every month and submit the financial statement to the Department of Taxation in Vietnam. Section 2 and Section 3 describes the information of Corporate Income Tax (CIT) and Value-Added Tax (VAT) of the Vietnam Company. Section 4 of this guide states the requirement of the Annual Audit for the Vietnam Company. Section 5 states the requirements to employ employees in Vietnam, including the introduction of social insurance, medical insurance, unemployment insurance, etc. Section 6 lists out […]
General Guide to Director’s Liability in Australia
General Guide to Director’s Liability in Australia When a director breaches a duty in Australia, the consequences depend on whether it is a general law duty or a statutory duty that is breached, and also what sort of remedy is being sought. A breach of a statutory duty may be so serious that a civil or even criminal penalty is imposed on the director. Summary 1. Business Judgement Rule Defence The narrow business judgment rule defence applies not only to the obligation to act cautiously, but also to the satisfaction of similar obligation in common law and in equity. The business judgment rule relates to a decision making, not only for an unintentional inaction. Therefore, the directors will need to make or avoid from making a decision. If they refrain from making a decision, that must be a considered action. The fact that all the criteria for the defence are […]
Vietnam Company Registration Procedures and Fees
Vietnam Company Registration Procedures and Fees Unless otherwise indicated, the Vietnam Company stated in this quotation refers to a Trading (Wholesale) Company formed and incorporated in Ho Chi Minh City or Hanoi City in accordance with the Law On Investment in Vietnam. Summary Our fees for the establishment of a Trading (wholesale) company in Vietnam Ho Chi Minh City or Hanoi City is USD 8,500. The fees quoted included Kaizen service fees, Vietnam registered address for one year, the local agent service fee for one year and the official registration fee. In short, this quotation included all the costs necessary to set up a company in Vietnam. For details, please refer to Section 1 of this quotation. For the incorporation of a Vietnam Company, client shall provide the identification documents and address proof of each shareholder and director, the proposed registered capital, the capital allocation of shareholders (if more than […]
Thailand Company Incorporation Package #1
Business Operation in Thailand Company Registration There are certain types of business which are restricted or prohibited for foreigners to carry on in Thailand including service business. Using Thai inactive shareholders to hold majority shares in a company is the alternative mostly used where a foreigner engages in these restricted or prohibited businesses. The Thai shareholders will hold a majority of 51% shares in the company to make the company to be Thai. This company will then be able to engage in businesses as if it was a Thai national. Government Fees The government fee is calculated based on the amount of the registered capital at the amount of approximately US$ 300 per Baht 1,000,000 registered capital. The fee is paid only one time. After the registration is completed, the company status will remain for an unlimited period, until the cancellation of such company is registered. Therefore, […]
Samoa Company Registration Package #SAMIBC03
1. Scope of Services of Samoa Company Registration Package #SAMIBC03 (1) We will help to incorporate an international company in Samoa with a registered capital of USD1,000,000. In particular, our incorporation services include: (a) Preparation of incorporation documents and filing of the documents with the Registrar for incorporation; (b) Payment of official filing fee (c) Provision of registered office service (first year) (d) Provision of registered agent service (first year) (e) One company kit, including common seal and chop (2) Certificate of Incumbency Application for one Certificate of Incumbency immediately after the company is registered for the purpose of bank account opening. (3) Bank Account Opening Providing assistance to open corporate bank account with a leading international bank in Hong Kong, including preparation of certified incorporation documents as required by the bank, visiting the bank with client, forwarding Internet banking password and security device to client. Please note the bank […]
Islamic Sultanate of Brunei Darussalam Company Incorporation Package #1
GENERAL INFORMATION The Islamic Sultanate of Brunei Darussalam is situated on the northwest coast of the island of Borneo and on the coastline of the South China Sea with its boundary attached to the Malaysian state of Sarawak. Brunei’s political system is based on the country’s written constitution and the tradition of the Malay Islamic Monarchy. Supreme executive authority vests in the Sultan. There is no exchange control and no restrictions on the movement of funds to or from Brunei. The type of company incorporated is International Business Company (IBC). An IBC has the power to perform all acts and engage in all activities necessary to the attainment of the object of IBC subject to the provisions in the order. However, an IBC cannot trade or own real estate within Brunei or undertake banking, insurance, investment advice or management of mutual fund business unless licensed to do so under appropriate […]
Germany Company Incorporation Package#2_Registered Office and Local Representative
Requirement for set up a Germany Company As a form of capital company, the limited liability company GMBH is equivalent to a legal person with 25000EUR registration capital at least. The Advantage of Germany Company 1. It is good to service local clients, as some local clients or suppliers only would like to contact the companies registered in Germany, not overseas; 2. Promoting the products and the company value, and the sale price could be a bit low to the market price in Germany; 3. The registered capital is only 25,000 for company registration, which can be used for expenses; 4. It is entitled to apply for permanent residence in Germany once the Germany company went smoothly around 4-5 years; 5. Improving the brand image and international image of the company; 6. Using commercial secretary could save a great of cost. INCORPORATION COST 1. Our quotation for registering a Germany […]
Germany Company Incorporation Package#1_Company registration only
Requirement for Set up a Germany Company As a form of capital company, The limited liability company GmbH is equivalent to a legal person with 25,000EUR registration capital at least. The Advantage of Germany Company 1. It is good to service local clients, as some local clients or suppliers only would like to contact the companies registered in German, not overseas; 2. Promoting the products and the company value, and the sale price could be a bit low to the market price in Germany; 3. The registered capital is only 25,000 for company registration, which can be used for expenses; 4. It is entitled to apply for permanent residence in Germany once the German company went smoothly around 4-5 years; 5. Improving the brand image and international image of the company; 6. Using commercial secretary could save a great of cost. INCORPORATION COST Our quotation for registering a Germany […]