http://thrl.in/2ndpassport

1. Incorporation and Offshore Business
Disclaimer: Not legal or tax advice for
your situation. Talk to a tax attorney
before taking action.

2. Essential Parts
Law
Governing the jurisdiction
Specific to that State or Country
• Paper
– Registered Office
– Legal documents (Static)
– Bank Account
– Accounting Records / Meetings / Minutes (Dynamic)
• People
– Secretary
– Director
– Shareholders / Members
– (treasurer, vice president, BOD, etc.)

3. Why Form a Company?
• -ability to open a corporate bank account
• -privacy
• -strong asset protection
• -professional appearance
• -debts, assets, licenses, contracts, can be
made or held by the legal entity
• -liability is limited, and you distanced from the
actions of your business

4. More Benefits
• -banking/investment opportunities otherwise not
available
• -planting of a flag in a strategic location
• -mitigation of sovereign risk
• -protection from bankruptcy, lawsuits, divorce,
civil unrest, and other ‘worse case scenarios’
• -access to higher risk merchant accounts
• -access to funding or investment capital
• -visas, Passports, and more…

5. Legal Entities
• C- Corp (Company limited by shares)
• LLC (company limited by partners interest)
• IBC International Business Company
• Pte. Ltd. Company limited by sharess
– With NO liability protection: sole proprietorship,
– Others not covered… LLLP, APT, Trust

6. Jurisdictions
Wyoming
Delaware
---------------
Belize
BVI | HK
Singapore

7. Wyoming LLC
• No state tax
• Simplicity
• Privacy
• Strong asset protection
• Cheap
• Key Components
– Operating Agreement
– Good Standing (access online)
– Articles of Incorporation

8. Delaware C-Corp
• Best State in the US for Corporation
• Fortune 5000 companies start here
• Ideal for raising money in Silicon Valley
• The only company for going public
– Americans can elect S-Corp (limited to 100
shareholders)
– Foreigners can only elect C-Corp (corporate
taxation)

9. Belize LLC
• No country tax
• Simplicity
• Privacy
• Strong asset protection
• Cheap
• Key Components
– Operating Agreement
– M&AA
– Articles of Incorporation
(very similar to Wyoming LLC’s)

10. BVI IBC + Hong Kong Bank
• Why a British Virgin Islands International
business company? Not a Hong Kong Co?
• BVI Company
– Paired with Hong Kong Bank Account
OR…
– Singapore Bank Account

11. The Best For Last…
• Requires local director
• Requires local secretary
• No tax on first 3 years (<100k turnover)
• Employment passes and visas possible
• Banking Opportunities
• High level of credibility

12. Singapore: The Best Place in the World
to Start a Business.

13. • Singapore Upsides
–Entrepass
–OPM
–Company Law
–Quality of Life
• Downsides
–Beer = S$5 = $4 US Dollars
–More Expensive to Baseline

14. Entrepass
• Citizenship within 4 years is possible
– Entrepass
– PR
– Citizenship and Passport
• Incorporate Company
– Capitalize with 50,000
– Spend 100,000 per year
– Hire 2 Singaporean Employees

15. Liquidity

16. Venture Capital
Angel Investors ($50,000 to $250,000)
Incubators ($15,000 to $150,000)
• Government Money
– Numerous Grants $50,000
– Spring Seeds $250,000
– Spring TECS $250,000 POC $500,000 POV
– TIS NRF $589,000
• Private Equity ($1M to $5M)

17. SG OPM PLAYBOOK
• Every Investment Firm In Singapore
• 30+ Angels
• All NRF TIS Incubators
• 15 Seed Funds
• Private Equity
• All levels of Venture Capital
• All Contact Details including personal names and
emails of directors as well as linkedin
• Template Emails – Well Organized with specific notes
on typical size of investment and particular areas of
interest

18. Edmund@FlagTheory.com
• Flagtheory.com/2nd-passport
• Flagtheory.com/offshore-company