Company registration in Singapore

Republic of Singapore is consistently ranked as one of the best places in the world for doing business. The city-state is home to 5.6 million residents, 39% of whom are foreign nationals, including permanent residents.

Benefits of company registration in Singapore:

• Singapore is not an offshore jurisdiction;
• It is the most politically stable state in Southeast Asia;
• First 100 000 are exempt from tax, next 200 000 of income are taxable under 8,5% rate, all the rest net income taxed under flat rate of 17%;
• There is no capital gains tax in Singapore;
• Dividends paid to shareholders are not taxed;
  Reliable banking system and the Singapore dollar is requested currency for long-term savings;
• There is no foreign exchange control for the transactions in Singapore and there are no restrictions on profit shifting from the country to another bank account.

Features of Singapore company:

1. Company type. The most common type is Exempt Private Company Limited by Shares.
   Time frames. Company can be registered in 1 day.
2. Company Name. The name of the company must be approved before proceeding with the registration of the company.
3. Registered Address. Each company is required to have a local registered address in Singapore where the company will keep all its statutory documents. The address cannot be a PO box.
4. Shareholding. A company must have a minimum of 1 and a maximum of 50 shareholders who can be local or foreign persons. Shareholders can be natural persons or corporate entities.
5. Share Capital. The minimum paid-up capital to set up a company is USD 1. A company can increase its share capital at any time by injection of additional capital.
6. Directors. Both Singapore-resident and foreign-resident persons can be directors of a Singapore company. Corporate directors are not permitted. A company must have at least one Singapore-resident director. Singapore-resident is defined as someone who is a Singapore citizen, a Singapore permanent resident or an Employment Pass holder.
7. Company Secretary. A company must appoint a qualified company secretary within 6 months of incorporation. The company secretary must also be a natural person and a resident of Singapore.
8. Accounting. Every company must file Annual Return. Most of the companies are exempt from Audit.

Our company offers registration of the company in Singapore with the opening of a bank account.