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Company Formation Services in Singapore

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Сингапур
Company Formation Services in Singapore
Number of Directors
1
Corporate income tax
17.0
Minimum authorized capital
1 USD
Financial statements
Yes

Cost of registration

from 2490 USD

The cost of the second year

from 2390 USD

COMPANY REGISTRATION IN SINGAPORE

The registration of a company in Singapore can provide the founder with great benefits, improving the reputation and enabling the expansion throughout the Asian continent. The country is characterized by financial stability and beneficial legislation, which allows non-residents from different countries to establish businesses in Singapore without unnecessary bureaucratic delays.

Lawyers of Law & Trust International will assist you in your company set up. Our experts have a broad experience, and as a result, they guarantee a prompt completion of all stages of the company's registration in Singapore.

KEY MOMENTS OF COMPANY FORMATION IN SINGAPORE

Establishment of offshore companies in Singapore is technically impossible. If the company in Singapore conducts business with local partners or consumers and transfers received income to local bank accounts, it is obliged to pay 17% of Corporate Income Tax and, for some operations: 7% of GST (Goods and Services Tax, an analog of VAT, Value Added Tax). Corporate Income Tax, however, is not levied on funds that:

  1. have been received from abroad, and
  2. have not been transferred to the local bank account in Singapore, and
  3. have not been spent for purchase or rent of real estate on the territory of Singapore.

So, Singapore companies that receive income from abroad and are exempted from taxation have some characteristics of an offshore company. However, each company in Singapore, notwithstanding the source of income, is obliged to keep the accounting record and submit the records to the relevant authorities of the country. An audit is mandatory for all companies, except for small ones, provided, that the accounts are not publicly accessible and can only be obtained by third parties either following shareholders’ decision or a court ruling. Consequently, a company registered in Singapore does not have a reputation for an offshore, so potential worldwide partners will more likely establish business relationships with such a company.

REQUIREMENTS FOR REGISTRATION OF COMPANY IN SINGAPORE

Registration of Singapore Company in the form of a Company Limited by Shares is the most cost-efficient for non-residents. The requirements for company formation in Singapore are indicated below.

  1. There is no minimum authorized share capital for Limited companies.
  2. A minimum of one shareholder residing in any country is required to form a Limited company,
  3. At least one director in a Limited company must be appointed. The said director shall be a resident of Singapore,
  4. The process of incorporation involves getting a legal address on the territory of Singapore,
  5. Singapore does not impose any specific requirements for company naming, apart from its uniqueness (a Singapore Limited company must not use a name resembling any other Singapore company). Our experts recommend providing several names for approval in case of rejection of one or more names due to non-uniqueness or any other reason,
  6. Singapore, as a common law jurisdiction, allows the use of nominee directors and /or nominee shareholders. It is allowed and will not harm your business reputation,
  7. The process of formation takes up from 1 to 2 weeks.

new private limited company registration in singapore

Our Company Formation Services in Singapore

Law&Trust lawyers provide complete support during the company formation process in Singapore. Our expertise earned through the years include:

  1. Company name, check for uniqueness and compliance with applicable laws of Singapore,
  2. Collection of documents, and, if necessary, their translation,
  3. KYC procedure,
  4. Preparation of required official documents,
  5. Documents submitted to the register of companies,
  6. We will notify you once the company is incorporated,
  7. You may pick up company documents in our office or we may deliver them to you by courier service.

SINGAPORE COMPANY FORMATION FAQS

  • What are the registration requirements needed in Singapore?
  • The company’s name
  • Director shall be resident of Singapore
  • Description of company activities
  • Details of shareholders and directors
  • Details of company secretary
  • A registered address
  • Memorandum and Articles of Association (MAA). Singapore Company Registrar provides a standard MAA document that is suitable for most instances.

Law and Trust International Lawyers are readily available to help you with the following requirements.

  • How long does it take to register a company in Singapore?

It takes a day to register a company in Singapore but depending on approval of certain government authorities, it could take from 1 to 2 weeks.

  • How much does it cost to register a company in Singapore?

The cost of registering a company in Singapore for the first year is $2499, while for the second year of registration costs $2395.

 

WHY INCORPORATE WITH LAW&TRUST INTERNATIONAL?

  • Full range of related services: Provision of a full range of legal, corporate, government, and business intelligence related services.
  • Professionals and expertise of Law: Worldwide registration and legal maintenance of companies, accounting services and audit, tax planning and optimization, trademark and patent registration, and many more. Top professionals are always available to help your business.
  • Thorough domestic service: Law &Trust ensure our services cover every province or region in Singapore. No matter where you decide, be rest assured we got the location covered.
  • Free initial advice: Lawyers of Law and Trust provide free initial advice, as well as services for analyzing and developing a legal position on the issue you have raised.
  • Fast and safe: Law&Trust keeps every clients’ details secured.
  • Efficiency and productivity: Strategically providing up to date personalized services to help your business succeed.

READY FOR FORMATION?

It is very easy to become a client of Law & Trust. The acceptance of applications is carried out without any interruptions, and you can visit our offices during working hours.

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Помощь в учреждении фирмы вам окажут специалисты компании Law&Trust International. Наши эксперты работают в данной нише правовой сферы больше десяти лет, ввиду чего гарантируют оперативное прохождение всех этапов регистрации компании в Сингапуре.

Ключевые моменты основания бизнеса в Сингапуре

Создание оффшорных компаний в Сингапуре технически невозможно. Если компания в Сингапуре ведет бизнес с местными партнерами или потребителями и переводит полученный доход на счета в местных банках, она обязана уплатить 17% налога на прибыль организаций, а для некоторых операций - 7% от НДС (налог на товары и услуги, аналог НДС). Однако корпоративный подоходный налог не взимается с фондов, которые:

  • были получены из-за рубежа, и
  • не были переведены на местный банковский счет в Сингапуре, и
  • не были потрачены на покупку или аренду недвижимости на территории Сингапура.

Таким образом, сингапурские компании, которые получают доход из-за рубежа и освобождаются от налогообложения, имеют некоторые характеристики оффшорной компании. Тем не менее, каждая компания в Сингапуре, независимо от источника дохода, обязана вести бухгалтерский учет и представлять записи в соответствующие органы страны. Аудит обязателен для всех компаний, за исключением небольших, при условии, что счета не являются общедоступными и могут быть получены только третьими лицами либо по решению акционеров, либо по решению суда. Следовательно, компания, зарегистрированная в Сингапуре, не имеет репутации оффшора, поэтому потенциальные партнеры по всему миру с большей вероятностью установят деловые отношения с такой компанией.

Также важно помнить несколько особенностей по работе с компаниями с данными характеристиками: 

    Нажмите на изображение ниже для воспроизведения

    General information

    Population
    5 353 490.00
    Literacy rate
    92.50%
    National currency
    Singapore Dollar
    Official language
    Mandarin 35%, English 23%, Malay 14.1%, Hokkien 11.4%, Cantonese 5.7%, Teochew 4.9%, Tamil 3.2%
    Credit rating
    AAA

    Corporate information

    Opportunity to purchase ready-made companies
    No
    Legal system
    Common Law
    Requirement for Local registered agent / secretary
    Yes
    Requirement for Local registered agent / secretary
    Yes

    Shares and share capital

    The minimum amount of the issued capital
    1
    Bearer shares
    No
    Possibility to issue shares without par value
    No

    Taxation

    VAT
    Yes
    Capital gains tax
    No
    Currency control
    No
    Withholding tax
    7%

    Company structure

    Minimum number of directors
    1
    The requirement for residency of directors
    Yes
    Director of legal entities are allowed
    No
    Director's data are publicly disclosed
    Yes
    Nominee service possibility
    2100.00

    Shareholder and beneficiary

    Minimum number of shareholders
    1
    The requirement for residency of shareholders
    No
    Shareholders' data are publicly disclosed
    Yes
    Beneficiary's data are publicly disclosed
    No
    Beneficial ownership reporting requirement
    Yes

    Reporting

    The requirement for filing reports
    Yes
    Open access to reports
    No
    Statutory audit
    No
    The requirement for filing Annual Return
    No
    Open access to the Annual Return
    No
    The requirement for reports
    Yes

    When taking into account the information on this page, please refer to limitation of liability

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    Law&Trust International offers free general consultation for this issue.

    With our services you can avoid many legal concerns.

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    Contact us

    We will provide detailed information on how we can help you, calculate the cost and timeline.

    A team of experts at your service.

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