Dezan Shira Opens Office in Singapore

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Oct. 17 – Dezan Shira & Associates, the specialist foreign direct investment advisory firm, has continued their Asian expansion and opened a new office in Singapore. The firm, which began life in China in 1992, provides legal establishment, tax advisory, accounting, due diligence and payroll services to MNCs in China, India and Vietnam.

“We are pleased to have our Singapore office open,” says Chris Devonshire-Ellis, the firm’s founding partner and principal. “It is the financial center of the ASEAN region, and with its recent signing of an FTA between ASEAN and China, and the India FTA already in place, Singapore will gain much more traction as a business hub for pan-ASEAN businesses.”

ASEAN is a 10 nation trade bloc including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

Its FTA agreements with China and India allow ASEAN-based countries to import and export goods between them with no duty payable. The region now has a total population of 593 million. Singapore meanwhile has become both a trade hub for the region, a major financial center in its own right, and is a low tax jurisdiction. Startup companies registered in Singapore do not have to pay tax, while the overall tax rate for companies is 17 percent. Tax is not levied on transactions carried out by Singaporean companies externally from its borders, meaning it is an attractive location for businesses operating in the region.

Dezan Shira & Associates’ regional office provides both Singapore and offshore corporate formation, as well as company secretarial and tax advisory services for investors. The firm may be contacted at singapore@dezshira.com with full contact details available here. The practice now has 20 offices throughout Asia, including 12 in China.

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