Set Up An Offshore Bank Account In Singapore

The setup in Singapore is much the same as anywhere else. Money moves to Singapore primarily for tax reasons because the country has the lowest tax rate in Asia. If you play your cards right, interest earned in Singapore can be tax free. While you might get tax breaks on interest in a lot of places, there’s a good reason to choose Singapore: Investment happens locally. Singapore banks pump money into China’s growing economy. So when you put your money in a Singapore bank, you’re doing three things: saving on taxes, investing in the world’s fastest growing economy and protecting your money by letting local experts pick and choose the investments for you. In other words, you get to invest in Asia without leaving home and without paying U.S. taxes.