I am very fond of the accounting services offered in Singapore. The Singaporean banking system is great for people who want to open an offshore account or want to open an account for conducting international business.

Singapore has a very fair banking system, and treats both local and foreign investors who want to open an account equally. It even allows 100 percent foreign ownership of a business. It is also considered as one of the safest options available for money transactions today.

Singapore has a very well-organized taxation rates, high global reputation and banking laws; it also has one of the lowest tax rates among Asian countries. No tax is imposed on financial profit made by foreign investors. Due to these factors, many companies are keen to invest in Singapore. Here are some of the major reasons why:

  • Singapore has a healthy economy and a stable government.
  • Singapore’s incorporation laws allow companies to be set up within an hour, provided all the paperwork is valid.
  • Singapore does not impose taxes on foreign investors.
  • Singapore imposes a flat tax rate of 17 % on corporate profits. But exemptions are allowed up to a profit of 30,000 dollars; as a result, the tax amount greatly decreases.
  • It is easy to get visa for Singapore hence the company can afford to recruit foreign employees easily to work in the company.
  • Singapore is a very developed country. It offers a standard of living which is similar to most of the western countries. As a result foreign investors find it easy to relocate to Singapore.
  • The interest rates offered by banks are very low.
  • An investor can open an offshore account in any currency format that is suitable to him.
  • Singapore is one of the world’s biggest financial centres, as a result opening an account in Singapore will add to the company’s positive image. This is great for attracting customers and other capitalists.
  • Singapore banks offer investors loans at very nominal interest rates. In fact Singapore banks offer the lowest interest rates in Asia.
  • Foreign investors with more than 3.6 million US dollars in a Singapore bank account which is recognized by the Monetary Authority of Singapore can apply for a permanent residence certificate.
  • Singapore offers the latest and modern state of the art banking services.
  • The rules and regulations for banking in Singapore are written in several foreign languages, so it is easy to understand for both the local and foreign investors.
  • Singapore has strong security laws to protect their bank account holder’s information. There are a wide range of financial service companies available in Singapore. So you can choose the bank which is suitable for your needs.

Though Singapore has always been very popular among Asian countries, in recent years it has attracted the attention of many European countries, and the banking activity in Singapore has increased by 25 %. Singapore’s offshore banking has attracted many reputed companies varying from the largest financial groups to small niche companies. Slowly but surely, Singapore is becoming the global hub of banking.


When comparing credit cards it is important to know a few basic things.  None of these require that you be a financial expert or math wizard, but are instead simple things that will help you make the smartest choice when making a decision as to what credit card to apply for.

There are two essential things you need to know so you can make a smart decision when choosing a credit card.  First, what APR actual is and second how to calculate the actual interest fee you will be paying.

First APR, or annual percentage rate, is the interest rate spread across the year as opposed to something like a monthly interest rate.  You should be aware there are two types of APR.  Nominal APR is what credit card companies are required to reveal and often advertise.  It represents the simple interest rate.  The effective APR, a rate often not advertised, takes into consideration the compound interest rate.  It is a more accurate representation of what you will be paying on your credit card as it takes into consideration the compounded interest.
Credit cards use compounded interest.  That is when interest is added to the amount owed, so therefore the interest fee charged also collects interest.

To figure out the effective APR (EAR) on a card you have to do a little math.

The equation:

EAR = (1 + APR/n)n– 1

 “n” represents how often the rate is compounded.  So if the compound rate is compounded monthly, n=12.  If it is quarterly n=4.

For example if you are getting a card that is compounded monthly with an APR of 19.9% the equation would read:

EAR = (1 + .199/12)12– 1


If you are not good with math then simply plug the equation into a smart calculator available as a free app on most smart phones (“Real Calculator” is an example of this).

It is also important to check and see what other sort of fees you could be subject to, like late fees, service fees, etc.

Armed with this information you can now wisely choose a credit card.

Click here to compare credit cards.