Singapore
INFORMATION
Singapore
Singapore is recognized as one of the best countries to do business in Asia, but also worldwide.
The type of company which we assist with formation is a Private Limited Company (Pte Ltd)
MAIN CHARACTERISTICS
The main characteristics of companies incorporated in Singapore:
- Foreigners can own 100% of the total company shares.
- Only one director is required to manage the company. However, there must be at least one resident (local) director.
- A minimum of 1 and a maximum of 50 shareholders.
- The current tax corporate rate is 17% on annual profits.
- Tax relief for start-ups companies. Start-up can receive a 75% tax exemption on the first $100,000 of normal chargeable income, with a further 50% exemption on the next $100,000 of normal chargeable income.
- The company’s business profile is not publicly available. However, anyone can purchase company’s a business profile online using the government portal.
- There is no minimum authorized share capital. However, the initial paid-up share capital must be at least $1 SGD.
- Audits are not required for small companies, but it is possible to have audits if required.
- Shareholders’ liabilities are limited to their share capital contributions.
STEPS TO FORMING A COMPANY
What are the steps to forming a Singapore company?
In order to start the company opening procedure, please submit the following:
- Name of the company (2-3 names)
- Utility bill (not older than 3 months)
- Business activity descriptions
- Payment to the EURO COMMERCE LLC bank account
- Passport copy of director and shareholder
- Bank reference letter
- Contact details (email, contact phone)
ACCOUNTING
Accounting obligation
All companies established in Singapore have an accounting obligation, regardless of their place of business operations. Accounting commences 18 months after company incorporation. Accounting fee depends on several facts:
- nature of business,
- number of transactions and
- company’s annual turnover.
Bank account opening
For Singapore IBC we can also assist you with the bank account opening in Singapore or internationally. For more information please visit our page Bank Accounts.
PRICING
Price list
The price depends on the type of service you want to use
Company formation
Annual renewal
Company formation
| 3000 USD | Incorporation |
|---|---|
| State fees | |
| Corporate secretary | |
| Registered address | |
| Appointment of foreign director | |
| Local nominated director |
Annual renewal
| 2600 USD | State fees |
|---|---|
| Corporate secretary | |
| Registered address | |
| Local nominee director |
Find out more about what we can do for you…