I started a business in HKG last year and now we have to move to Singapore.
The business currently has a very low turnover and I an about to submit my first set of accounts.
I definitely want to bring it over with me to Singapore but not quite sure how to handle it yet.
It is an online business and I also act as sales Agent for 2 of the brands so I will try to break into some of the big luxe stores in Singapore.
I also do private organised home sales which are pretty successful - does this concept exist in Singapore?
If I keep HKG as company base, and open a subsidiary in Singapore will I need to provide accounts to Singapore govt as well as HKG govt? If so, it might just be better to move and recreate new company in Singapore...
If I decide not to retail and just keep up the sales agent, can I just work freelance and file normal tax return?
I will be moving on a dependant/spouse visa.
THANKS
SINGAPORE EXPATS FORUM
Singapore Expat Forum and Message Board for Expats in Singapore & Expatriates Relocating to Singapore
Move business to Singapore or keep in HKG and other questions
- Strong Eagle
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In general, it doesn't matter who owns the company, if it does business in Singapore, it will need to file accounts and pay taxes. I see no compelling reason to keep the business in HK unless you have a solid on the ground business running there.
She this post about working freelance.
http://www.singaporeexpats.com/forum/ftopic60398.html
Generally, if you are providing services in Singapore to a Singapore entity you must have a company, file tax returns, etc. The exception is if you provide a service or product outside Singapore, receive the money outside of Singapore, and pay taxes on that money outside of Singapore.
She this post about working freelance.
http://www.singaporeexpats.com/forum/ftopic60398.html
Generally, if you are providing services in Singapore to a Singapore entity you must have a company, file tax returns, etc. The exception is if you provide a service or product outside Singapore, receive the money outside of Singapore, and pay taxes on that money outside of Singapore.
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