Aspen Trust

General Information

• Type of Company - Private Company Limited by Shares
• Legislation - Common Law
• Company name - Non-English names are not allowed
• Time-scale for incorporation - 2-3 days after name is reserved
• Change in domicile is not permitted
• Double tax treaties - with 60 countries
• Shelf companies are not available
• Taxation on profits - 18% (17% from 2010)

Local Requirements

• Registered office is required
• Company secretary is required
• Local or qualified secretary is required
• Local directors are required
• The location of meetings can be anywhere in the world
• Public recording of shareholders and directors is not required

Corporate Requirements

• Minimum number of shareholders - One
• Minimum number of directors - One
• Usual authorised capital - has been abolished
• Standard currency of share capital - SGD
• Minimum paid up share capital - SGD1.00

Annual Requirements

• It is a requirement to prepare accounts
• It is a requirement to file and audit accounts, unless the company is exempted
• It is required to have publicly accessible accounts if lodged with ACRA
• It is a requirement to file annual return
• The minimum government fees are SGD300