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Company Incorporation in Singapore and Administrative Support

Formation of Singapore Limited Liability Company (Pte Ltd)

Singapore economy is one of the swiftly emerging and constantly increasing in the world compared to other countries, which offers an extremely secured and striving atmosphere for the companies planning for foreign investment. As per World Bank, since last two year, Singapore is the 2nd best country for foreign investment business and declared the second most competitive country after the USA. There are few benefits in incorporating a business in Singapore which includes tax exemption for the resident company on the first profit of SGD 100,000.

Overview

Company Type

In Singapore, the extension used for Private limited companies are Pte Ltd.

Currency

Singapore Doları (SGD)

Price

Please Contact us for schedule fees

Company Name

The names of all the companies should be agreed by the Registry of Companies & Businesses and it will be kept aside for a period of two months if agreed. The extension after the company name will be either Pte Ltd or Ltd. The proposed name for your company can be checked by us to make sure that it is not the same as the existing company which is already incorporated.

Registered Office

It is essential for all the companies to hold an office locally registered in Singapore so that the professional and legal correspondence related to the company can be sent. Moreover, in this place, only the records of accounts and registers related to the company are kept safely. The company’s registered office should be kept open for at least three hours between 09:00 to 17:00 hours on weekdays for the easy accessibility for the public.

Shareholders

The requirement for shareholders of a company is only one and there is no kind of limitations on their nationality or residency. The shareholder can also act as a director of the company. The upper limit of 50 shareholders is permissible and they can also be corporate entities. In case of the shareholder who is a citizen of Pakistan, Bangladesh, China or few other countries there will be a necessity of more information for the registry. The register of name list of shareholders is kept for public scrutiny.

Timescale

The time taken to incorporate will be regularly 5 days, but in case the shareholders are of certain countries like China, Pakistan then it might take a little extra time.

Company Secretary

The secretary of the company should be appointed within the time span of six months from incorporation, and the individual should be a resident of Singapore. If the company has only one director then they cannot hold the position of the secretary, in such case we will provide your company secretary.

Filling Requirement

It is essential for the companies to maintain records of accounting, whereas these can be kept anywhere in the world. In general every company should audit their accounts with audit report and should be filed with the financial statements.  It is compulsory for every company to file an annual return, and the fees for filing will be SGD 20 (approximately EUR 12).

Directors

The prerequisite for the director of a company is single for incorporating in Singapore, even though the financial institutions and banks in Singapore require two participants so it is essential to have a minimum of two directors. No major constraints on the residency or nationality of the directors of the company, but there should be a minimum of one Singapore resident as director and he can be of any nationality. It is compulsory to maintain director’s register by the company which is accessible for public inspection.

Share Capital

The company’s least share capital should be SGD 1 and there is no upper limit for the same.

Identity Proof

It is mandatory for all the shareholders and directors of the company to submit a copy of their passport as a proof of identity.

Travel

It is compulsory to visit Singapore for the formation of your company.

Taxation

A company which is a non-resident of Singapore is exempted from the tax if it receives its all of its income from abroad. Therefore, it can be an exceptional thing to officially book international income. The corporation tax for the Singapore tax resident company is 17% for income generated by Local or Foreign sourced income dispatched to Singapore. A tax rebate is applicable for the Tax resident company in Singapore by 100%; it is possible to exempt on the first 100,000 Singaporean dollars and 50% exemption on the next $200,000 Singaporean Dollar. It is 5.7% of the tax rate for the company with S$300,000 of annual income during this period.

Governing Corporate Legislation

Singapore Companies Act is the governing body of a private limited company in Singapore.

Confidentiality

It is necessary to list the names of the shareholders and directors in Public Registry. Nevertheless, to keep privacy you can use nominee service.
1 singapore-business-federation
2 ministry-of-manpower
3 cpa-singapore
4 institute-of-singapore
5 saicsa
6 icsa
7 sgxlogo

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