Guide for Incorporation of Company in Singapore

Last modified: June 3, 2016

Private-Limited-Company

In order to succeed with your Singapore company setup, you need to take assistance from one of the competent Singapore incorporation services. The experts employed by SG Company Incorporation take charge of the situation and guides you through the process. Our company incorporation in Singapore services are cost effective and prompt.

Company Registration Singapore

Singapore implements one of the simplest Singapore business incorporation processes. Our experts assist the entrepreneurs, local as well as foreign, in completing the two procedures that are part of the company incorporation process.

In the first stage, we assist you in selecting a suitable name for your proposed company and get it approved from the Company Registrar by visiting BizFile portal. It means applying to Accounting and Corporate Regulatory Authority (ACRA) of Singapore.

During the second stage, our experts put together the incorporation documents. They also apply, on your behalf, to ACRA for registering your company. Appointing us as your incorporation firm is beneficial as we also provide services like company secretary and registered office address to our clients.

You do not have to be present in Singapore to initiate the registration process. If you let us have all the incorporation documents, our expert can do the rest. With our help, you can get your Singapore Company registered within the short span of 1 – 3 days.

Requirements of Singapore Business Incorporation

  • As per the Company Act of Singapore (Chapter 50), the company must appoint a local resident director. A Singapore citizen, permanent resident or an Employment Pass holder can be appointed to this position.
  • The company must have at least one shareholder.
  • The newly incorporated company must appoint at least one company secretary within the 6 months from its incorporation date to take care of its statutory compliance.
  • The initial paid-up capital required for the company is 1S$.
  • A company must provide local registered office address. It must also ensure that it is open to the common public during the office hours.

It is beneficial to setup company in Singapore, as this country apply lower corporate tax rates to the businesses operating under its jurisdiction. The regime is very sympathetic to the new, small, and mid-level businesses. It also attracts multinational giants as it offers incentives to these entities for setting their offices in Singapore.

The initial chargeable income of up to S$100,000 of a start-up company is tax-free. Next, S$200,000 of chargeable income is taxed only at 8.5%. Existing companies also get tax exemptions under the partial exemption scheme. Singapore taxation system offers various schemes to its tax resident companies. In fact, most of these entities pay the tax in range of 8.5% – 10 percent.

Singapore, one of the richest country in the world, offers political stability, least amount of corruption, exemplary infrastructure, communication links with the outside world, safe social life, and world class education facilities to its citizens. All of these factors enable Singapore to attract investors, entrepreneurs, and professionals from all over the world.