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A trust established in Singapore may not be subject to local taxes applicable to the assets and income of the trust, provided that no residents of Singapore benefit from the trust and no physical assets are located there.

It must be noted that the choice of law of the trust would not be applicable to tax matters, which would be governed by the respective jurisdiction where the settlor, beneficiaries, assets or trustee are located, as applicable.

You should consult with your tax advisor or accountant to know the tax implications in your jurisdiction of residence when establishing a trust in Singapore, transfer assets to it and receive profits from said assets.

  • Offshore Income Tax Exemption
  • Offshore capital gains tax exemption
  • Offshore dividends tax exemption
  • CFC Rules
  • Thin Capitalisation Rules
  • Patent Box
  • Tax Incentives & Credits
  • Property Tax
  • Wealth tax
  • Estate inheritance tax
  • Transfer tax
  • Capital duties
  • 0% Offshore Income Tax Rate
  • 17% Corporate Tax Rate
  • 0% Capital Gains Tax Rate
  • 0% Dividends Received
  • 0% Dividends Withholding Tax Rate
  • 15% Interests Withholding Tax Rate
  • 10% Royalties Withholding Tax Rate
  • 1 Losses carryback (years)
  • Indefinitely Losses carryforward (years)
  • FIFO Inventory methods permitted
  • 64 Tax time (hours)
  • 5 Tax payments per year
  • 20% Social Security Employee
  • 17% Social Security Employer
  • 22% Personal Income Tax Rate
  • 7% VAT Rate
  • 81 Tax Treaties

Country details

cmn, en-SG, ms-SG, ta-SG, Chinese (Singapore)

The Republic of Singapore, also known as Lion City or the Little Red Dot, is an island city-state of Asia, made up of the main island and other sixty-two islets, and founding member of the ASEAN.

It is located to the south of the State of Johor in the peninsula of Malaysia and to the north of the islands Riau of Indonesia, separated of these by Strait of Singapore. Its population is about 5.5 million, of which about 75 percent are Chinese, and the rest are Malay, Indian or Eurasian minorities. This multiculturalism diversity is reflected in the four official languages of the country, English, Chinese, Malay, and Tamil. Its official currency is the Singapore Dollar (SGD), which is also accepted as customary tender in Brunei. Alike, the Brunei Dollar (BND) is customarily accepted in Singapore.

Singapore is a unitary multiparty parliamentary republic, with a Westminster system of unicameral parliamentary government.

Singapore is one of the main global cities and one of the hubs of world trade, third-largest oil refining and trading center, third largest financial center and one of the largest freight port worldwide. Singapore is the third country with the highest per capita income worldwide, in terms of purchasing power parity, as well as being among the first countries on the international lists of education, with one of the highest skilled workforce worldwide, health, political transparency, and economic competitiveness.

Its globalized and diversified economy depends especially on international trade, refining imported raw goods to reexport, and an export-oriented manufacturing sector, mainly chemistry, oil refining, being one of the top three export refining centers in the world, mechanical engineering, biotechnology, and biomedical sciences. Singapore has one of the seaports that handles the largest annual cargo volume worldwide, both in tonnage and in the number of containers.

The country is also an important international financial hub, leading world’s private banking sector, offering top-notch corporate banking facilities and a broad range of banking services, investment funds, and insurance services, among others. It also has the fourth largest currency exchange and capital market worldwide, behind New York, London, and Tokyo.

All supported by an investor and entrepreneurship-friendly tax policy. With a territorial tax system, a low tax burden and the availability of several tax breaks and incentives for startups and technological innovation.

Singapore welcomes thousands of foreign investors, expats entrepreneurs and multinational companies’ employees. Singapore’s immigration policy is geared towards attracting foreign talent, with several visa schemes to attract high-skilled foreign employees, entrepreneurs and investors.

Tax treaties

Country Type Date Signed
Mauritius DTC  1995-08-19
Poland DTC  2012-11-04
Austria DTC  2001-11-30
Myanmar DTC  1999-02-23
Slovenia DTC  2010-01-08
Bulgaria DTC  1996-12-13
Kuwait DTC  2002-02-21
Pakistan DTC  1993-04-13
Belarus DTC  2013-03-22
Romania DTC  2002-02-21
Hungary DTC  1997-04-17
Czech Republic DTC  1997-11-21
South Africa DTC  1996-12-23
Lithuania DTC  2003-11-18
Qatar DTC  2006-11-28
Uruguay DTC  2015-01-15
Italy DTC  1977-01-29
Rwanda DTC  2014-08-26
Oman DTC  2003-10-06
Belgium DTC  2006-11-06
Liechtenstein DTC  2013-06-27
Sweden DTC  1968-06-17
France DTC  1974-09-09
Libya DTC  2009-04-08
Uzbekistan DTC  2008-07-24
Panama DTC  2010-10-18
India DTC  1994-01-24
Jersey DTC  2012-10-17
Korea, Republic of DTC  1979-11-06
Ukraine DTC  2007-01-26
Isle of Man DTC  2012-09-21
Barbados DTC  2013-07-15
Canada DTC  1976-03-06
Turkey DTC  1999-07-09
Bangladesh DTC  1980-12-19
Fiji DTC  2005-12-20
Finland DTC  2002-06-07
Malta DTC  2006-03-21
Chinese Taipei DTC  1981-12-30
Australia DTC  1969-02-11
Portugal DTC  1999-09-06
Estonia DTC  2006-09-18
Egypt DTC  1996-05-22
Malaysia DTC  2004-10-05
Brunei Darussalam DTC  2005-08-19
Japan DTC  1994-04-09
Denmark DTC  2000-07-03
Sri Lanka DTC  2014-04-04
Latvia DTC  1999-10-06
Kazakhstan DTC  2006-09-19
Ireland DTC  2010-10-28
Netherlands DTC  1971-02-19
Indonesia DTC  1990-05-08
Norway DTC  1997-12-19
Papua New Guinea DTC  1991-10-19
United Arab Emirates DTC  1995-12-01
New Zealand DTC  2009-08-21
Albania DTC  2010-11-23
Georgia DTC  2009-11-17
Seychelles DTC  2014-07-09
Bahrain DTC  2004-02-18
Mongolia DTC  2002-10-10
United Kingdom DTC  1997-02-12
Thailand DTC  1975-09-15
Saudi Arabia DTC  2010-05-03
Viet nam DTC  1994-03-02
Israel DTC  2005-05-19
Cyprus DTC  2000-11-24
Germany DTC  2004-06-28
China DTC  2007-07-11
Switzerland DTC  2011-02-24
Slovakia DTC  2005-05-09
Luxembourg DTC  1993-03-06
Morocco DTC  2007-01-09
Guernsey DTC  2013-02-06
Russian Federation DTC  2002-09-09
San Marino DTC  2013-12-11
Philippines DTC  1977-08-01
Mexico DTC  1994-11-09
Spain DTC  2011-04-13
Bermuda TIEA 2012-10-29

Tax treaties Map



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