public
Onshore
Singapore
After licensing its first captive in 1983, Singapore has grown into the largest Asia Pacific captive domicile and a major reinsurance center. It is governed by the Insurance Act and offers chargeable income tax exemptions of up to SGD 152,500. Capital adequacy is set strictly such that equity and retained earnings must exceed the sum of SGD 400,000 and calculated insurance fund components.
Quick Facts
Jurisdiction
Onshore
Legislation
Singapore Insurance Act
Tax Environment
17% corporate rate with 10% concessionary rate for qualifying activity
Financial Requirements
Minimum Capital & Surplus
| Structure Type | Minimum Capital |
|---|---|
| Ordinary Share Capital | SGD 400,000 (~$285,000) |
info
Regulatory Framework
Singapore Insurance Act
account_balance_wallet
Tax Environment
17% corporate rate with 10% concessionary rate for qualifying activity
Considering Singapore for Your Captive?
Our consultants provide end-to-end guidance on domicile selection, feasibility, and formation. Let us help you determine if Singapore is the right fit.