Singapore Company
A Singapore company is very popular for several reasons including:
Singapore Company Incorporation RequirementsPaid-Up Capital
Usually the documentation to be submitted to ACRA is:
Name approval takes only 2-3 hours unless name is already available. Once the company name is approved and we have received the signed documents from you, we can normally register Singapore Company.
Exempt Private CompanyAn Exempt Private Company (EPC) is one which has less than 20 shareholders, and none of the shareholders is a corporation. An exempt private company is not required to file audited accounts, whilst other companies must file its audited accounts with ACRA on an annual basis (unless it is an exempt private company).
Licenses and PermitsNo special approval is required for most of the business activities in Singapore. Only certain types of business activities are controlled by government agencies and require necessary approvals and license from relevant authorities before commencing business. Government approval is generally not required for companies to do business in Singapore with the exception of the following:
- 100% foreign ownership allowed
- Minimum paid-up capital of $1 only
- Company incorporation in 1 day
- Minimum 1 shareholder and 1 director
- No taxes on first 100K taxable income annually for first three years of a new Singapore company;
- Only 9% tax rate on taxable income of up to 300K annually starting YA 2008
- Low overall flat tax rate of 17% on taxable income above 300K
- Zero taxes on capital gains and dividends in general
- Immigration visa (entrepreneur pass) available for company owners wishing to relocate to Singapore to run their new Singapore company
- No exchange controls or restrictions on repatriation of profits
Singapore Company Incorporation RequirementsPaid-Up Capital
- Minimum paid-up capital of S$1 only
- Minimum 1 shareholder - 100% shareholding allowed by foreign corporate & individual shareholder. No requirement to be a Singapore resident.
- Minimum one individual director required who has to be an ordinary resident of Singapore i.e. being one of the following: - Singapore Citizen, Singapore Permanent Resident or Singapore Employment Pass / EntrePass / Dependant Pass holder.
- Local Registered address (P.O.Box not allowed). We provide this service.
- At least one qualified corporate secretary is required who is a Singapore resident. We provide this to all clients.
- Name approval
- Prepare registration documents
- Client to sign company registration documents
- Register company with ACRA
- Post incorporation procedures ( opening of bank accounts,etc)
Usually the documentation to be submitted to ACRA is:
- Memorandum and Articles of Association
- Statutory Declaration of Compliance
- Particulars of Shareholders, Directors, Secretaries, etc.
- Certificate of Identity
- Situation of Registered Office/Office Hrs at Time of Registration
- Consent to Act as Director and Statement of Non-disqualification to Act as Director
- A Consent to Act as Secretary
Name approval takes only 2-3 hours unless name is already available. Once the company name is approved and we have received the signed documents from you, we can normally register Singapore Company.
Exempt Private CompanyAn Exempt Private Company (EPC) is one which has less than 20 shareholders, and none of the shareholders is a corporation. An exempt private company is not required to file audited accounts, whilst other companies must file its audited accounts with ACRA on an annual basis (unless it is an exempt private company).
Licenses and PermitsNo special approval is required for most of the business activities in Singapore. Only certain types of business activities are controlled by government agencies and require necessary approvals and license from relevant authorities before commencing business. Government approval is generally not required for companies to do business in Singapore with the exception of the following:
- Banks and other financial institutions wishing to do business do require approval from the Monetary Authority of Singapore (MAS).
- Certain activities, namely as the production of cigarettes, beer, refrigerators and air-conditioners, operation of restaurants, bars, etc. require a license from the relevant government bodies.
