English | Fran├žais

Singapore

Advantages

  • A Singapore company is not perceived as an offshore company in a tax haven. Singapore is a reputable, highly regulated, global trading jurisdiction.
  • A Singapore company can enjoy tax exemption on profits earned outside Singapore. In addition, S$200,000 (approximately US$145,000) of corporate profits earned in Singapore can be legally tax-exempt for the first three years of business trading.
  • Singapore boasts strong client confidentiality laws and has recently been taken off the Organisation for Economic Cooperation and Development (OECD) grey list after meeting the requirements set by the OECD.
  • A Singapore company can enjoy access to double taxation treaties with 58 countries including Japan, China, Germany, France, the UK and Canada.
  • It is not necessary to rent a physical office to complete Singapore company formation.
  • A Singapore company is popular with foreign investors setting up a regional or global headquarters. According to the United Nations Conference on Trade and Development (UNCTAD), business-friendly Singapore is the third-largest recipient of foreign direct investment (FDI) in Asia, after China and Hong Kong.
  • As a global private banking and wealth management hub, Singapore is rapidly becoming the preferred financial services centre and place to live for the world's wealthy.
  • It is easy to open global corporate bank accounts following Singapore company incorporation.
  • Singapore is a highly competitive economy. According to the World Bank's Doing Business 2010 Survey, Singapore is the world's easiest place to do business. The survey measures factors including company registration procedures, time, cost and minimum capital required for company formation.
  • Annual financial audit is not required if corporate turnover/sales is less than S$5 million
  • Singapore is an excellent location to register intellectual property (IP), including global trademarks and patents. Singapore is a signatory to international conventions including the World Trade Organisation's (WTO) Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS), which helps protect against IP rights infringements. Singapore is also a signatory to the Berne Convention and the World Intellectual Property Organization Copyright Treaty.

Private Limited Company in Singapore

Time to Incorporate

Normally takes three days to incorporate your company and you have to visit Singapore.

To incorporate your private limited company in Singapore we require the following:

  • The proposed company name and intended activities of your new company
  • Directors' details: proof of identity - such as a copy of a passport or national identity card, proof of residential address and bank and professional references
  • Secretary details: proof of identity - such as a copy of a passport or national identity card, proof of residential address and bank and professional references
  • Members' details: in the case of individuals, this means proof of identity - such as a copy of a passport or national identity card, proof of residential address and bank and professional references. In the case of Corporate Members - this means an apostilled Certificate of Good Standing and a copy of the company Statutes.

Directors

A director can be a shareholder, and even the only shareholder of the company.

Director Nationality

At least one of the Directors of your limited liability company in Singapore needs to be a Singapore resident (this means someone with nationality, a Permanent Resident, or a person over 21 years of age who has been issued an Entrepass - right to residency, or an Employment Pass, or a Dependent Pass which gives residency to dependents of Singapore residents). There are no restrictions on the nationality of directors, excepting the requirement to have one Singapore resident or national as director.

Director confidentiality

Details are kept with the Company Registry, and available for public inspection of all current directors, shareholders and of the company secretary.

Minimum number of directors

One.

Nominee directors

Nominee directors are allowed.

Resident director

There must be at least one Singapore resident director.

Company secretary

Every company must appoint a company secretary within 6 months of the company incorporation. The person appointed must be a Singapore resident.

Minimum Share capital

The minimum issued share capital is S$ 1.

Annual Returns

Financial Statements need to be lodged with the tax authorities in Singapore.

Taxation

Corporation Tax is only paid on income earned or possible income remitted into Singapore. There is a tax holiday for new companies.