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Offshore vehicles not illegal: MAS

Central bank says it has a strict legal and regulatory framework to guard against money laundering and terrorism financing
Tuesday, April 12, 2016 - 05:50

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The use of offshore vehicles, in and of itself, is not illegal, Singapore's central bank said, adding that businesses and individuals may set up offshore vehicles for a variety of legitimate commercial or other reasons.

Singapore

THE use of offshore vehicles, in and of itself, is not illegal, Singapore's central bank said, adding that businesses and individuals may set up offshore vehicles for a variety of legitimate commercial or other reasons.

And Singapore is firmly committed to being a clean

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