Establishing Tax Residency in Singapore for Foreign Investors
Foreign investors can access treaty relief and lower tax rates by establishing genuine management and control in Singapore.
For multinational groups, obtaining Singapore tax residency is a strategic decision that can reshape regional tax efficiency. Residency status determines whether a company can rely on Singapore’s network of more than 90 double tax agreements to lower withholding taxes and prevent double taxation on cross-border income.
The Inland Revenue Authority of Singapore (IRAS) does not grant this status automatically upon incorporation, instead, it reviews where control and management are genuinely exercised.
The Certificate of Residence, known as a COR, serves as the evidence foreign tax authorities require before granting treaty benefits.
According to the data, that difference could save about US$200,000 every year, which for many groups, such savings justify relocating strategic decision-making to Singapore.
No automatic residency upon incorporation.
Author summary: Establishing tax residency in Singapore can bring significant tax savings.
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