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Shell Companies

Updated: Aug 8, 2023


Shell Companies | Bestar
Shell Companies | Bestar


Shell companies are business entities typically without business operations or significant assets. Shell companies usually have a low paid up capital. Shell companies are not by themselves illegal. Some have legitimate business purposes. For example, shell companies can be used as vehicles to raise funds before starting operations, to take over another company, or to corporatise a business as a prelude to a public offering. Unfortunately, shell companies can also be used as vehicles to commit crime (e.g. to cheat, evade tax, receive bribes, finance terrorism or launder money).


Why Singapore Shell Companies


There are a few reasons why people might choose to set up a shell company in Singapore.

  • Tax benefits: Singapore has a relatively low corporate tax rate of 17%, which is lower than many other countries. This can be a significant advantage for businesses that are looking to minimize their tax liability.

  • Favorable regulatory environment: Singapore has a well-developed legal and regulatory system that is favorable to businesses. This makes it a good place to set up a company if you want to avoid the bureaucracy and red tape that can be found in other countries.

  • Strategic location: Singapore is located in a strategic location in Southeast Asia, which makes it a good base for businesses that are looking to expand into the region. The country has a well-developed infrastructure and a skilled workforce, which can be a valuable asset for businesses.

  • Ease of doing business: Singapore is ranked as one of the easiest places to do business in the world. This is due to a number of factors, including the efficient government bureaucracy, the lack of corruption, and the availability of skilled labor.

It is important to note that shell companies can be used for both legitimate and illegitimate purposes. If you are considering setting up a shell company in Singapore, it is important to make sure that you are doing so for legitimate reasons. You should also make sure that you are familiar with the laws and regulations surrounding shell companies in Singapore.


Here are some of the legitimate reasons why people might set up a shell company in Singapore:

  • To conduct business in Singapore without having to set up a permanent presence in the country.

  • To protect their personal assets from liability.

  • To raise capital from investors.

  • To conduct cross-border transactions.

  • To manage intellectual property.

Here are some of the illegitimate reasons why people might set up a shell company in Singapore:

  • To launder money.

  • To avoid taxes.

  • To evade sanctions.

  • To commit fraud.

  • To engage in other criminal activities.

If you are considering setting up a shell company in Singapore, it is important to make sure that you are doing so for legitimate reasons. You should also make sure that you are familiar with the laws and regulations surrounding shell companies in Singapore.


How Bestar can Help


Bestar is a Singapore-based company that specializes in setting up and managing shell companies. They offer a wide range of services, including:

  • Company formation: Bestar can help you set up a shell company in Singapore quickly and easily. They will take care of all the paperwork and legal requirements, so you can focus on running your business.

  • Account opening: Bestar can help you open a corporate bank account in Singapore. This is essential for businesses that want to conduct transactions in Singapore.

  • Compliance: Bestar can help you stay compliant with Singapore's laws and regulations. This includes filing annual returns, paying taxes, and complying with anti-money laundering regulations.

  • Accounting: Bestar can provide accounting services for your shell company. This includes bookkeeping, tax preparation, and financial statement analysis.

  • Secretarial services: Bestar can provide secretarial services for your shell company. This includes handling correspondence, filing documents, and arranging meetings.

Bestar is a reputable company with a good reputation in Singapore. They have a team of experienced professionals who can help you set up and manage your shell company in Singapore quickly and easily.


Here are some of the specific ways that Bestar can help shell companies in Singapore:

  • Provide guidance on the legal and regulatory requirements for setting up and operating a shell company in Singapore. Bestar's team of lawyers and accountants can help you understand the complex laws and regulations that govern shell companies in Singapore. This will help you avoid making mistakes that could land you in legal trouble.

  • Help you choose the right corporate structure for your shell company. There are different types of corporate structures available in Singapore, each with its own advantages and disadvantages. Bestar can help you choose the right structure for your specific needs.

  • Assist you with the incorporation process. Bestar can take care of all the paperwork and filing requirements for incorporating your shell company in Singapore. This will save you time and hassle.

  • Provide you with a registered address in Singapore. A registered address is a physical address in Singapore that is used for the official correspondence of your shell company. Bestar can provide you with a registered address in a prestigious location in Singapore.

  • Open a corporate bank account in Singapore. A corporate bank account is essential for businesses that want to conduct transactions in Singapore. Bestar can help you open a corporate bank account with a reputable bank in Singapore.

  • Provide accounting and bookkeeping services. Bestar can provide you with accounting and bookkeeping services for your shell company. This will help you stay on top of your finances and avoid making mistakes.

  • Provide secretarial services. Bestar can provide you with secretarial services, such as answering phone calls, filing documents, and arranging meetings. This will free up your time so you can focus on running your business.

If you are considering setting up a shell company in Singapore, Bestar is a reputable company that can help you get started. They have a team of experienced professionals who can help you understand the legal and regulatory requirements, choose the right corporate structure, and incorporate your company quickly and easily. Bestar can also provide you with a registered address, open a corporate bank account, and provide accounting and secretarial services.


Contact us today for shell company services.

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