Singapore
Corporate Services

This might vary depending on the professional service provider you engage, as the procedures carried out by each provider could differ. Typically, you will be required to provide a notarised identification and address proof of all potential officers of the company, such as the director(s) and shareholder(s). If the shareholder is a corporate entity, the business registration certificate, M&AA, shareholder list and other corporate related documents will be required.

To form a company in Singapore, you must address the following three things. Choose the right business structure, register your company with ACRA (Accounting & Corporate Regulatory Authority) to legally establish your company’s existence and set up a corporate bank account, if necessary.

After you choose the name of your company, you should decide on the type of company you intend to establish.

The types include:

Private company limited by shares
Exempt private company
Public company limited by guarantee
Public company limited by shares
Unlimited exempt private company
Unlimited private company
Unlimited public company

Then you should decide the end date of your financial year and determine what needs to be filed every year. Besides, it is crucial to appoint secretaries, company directors, and other key staff (ie an auditor within the first 3 months of incorporation) as you organize the shareholders and share capital within your business. You will also have to provide the constitution and registered office address.

Private Limited Company: Private limited companies have less than 50 shareholders and their shares should not be accessible to the public. A private limited company has the most flexible business structure. It is a separate legal entity from its shareholders and directors. It enjoys limited liability, shareholders are not liable for debts that are more than the agreed shared capital. You will need to open a corporate bank account for this reason. You can also freely transfer the ownership of the company.

Sole Proprietorship: Sole Proprietorship fundamentally means there are no partners in the business where the owner can earn all the profits but also bear a higher risk if anything happens. The sole proprietorship is not a separate legal entity from the business owner and all the debts of the business are the personal responsibility of the owner due to its unlimited liability. To register as a sole proprietor in Singapore, you must be a Singapore citizen, Singapore resident, or entrepreneur passport holder.

Limited Liability Partnerships(LLP): LLP lets companies operate as partnerships while benefiting from the advantages of a private limited company. LLP is a separate legal entity and partners are not responsible for any loss or liability arising from the business.

Yes! With all the attractive tax benefits, centralised location and business-friendly government policies, Singapore is one of the top countries in Asia for foreign directors or entrepreneurs to expand their business or to newly incorporate one.

With an Employment Pass, foreign entrepreneurs can start their company registration process in Singapore. The Employment Pass (EP) permits foreign executives, managers and individuals to work in Singapore. You are advised to complete your company registration prior to applying for your EP and note that your application is subject to the authorities’ approval.

To avoid any uncertainty or hassle, foreigners should hire a corporate secretary firm like Premia TNC to gain help with the incorporation process on top of other company formation services.

There are many business-friendly tax benefits to encourage company registration in Singapore. These are the tax advantages that entrepreneurs enjoy in Singapore:

1. Newly incorporated companies get exempted from 75% of their first 3 years of tax filing for their first corporate profits of S$100,000.
2. There is a further tax exemption of 50% taxable income of up to S$100,000. New companies registered are also entitled to the further partial tax exemption of the 8.5% tax rate on taxable income up to S$100,000 per year.
3. Shareholders of companies in Singapore can enjoy zero tax for both capital gains and dividends.
4. Singapore has signed the Double Taxation Avoidance Agreements (DTA) with more than 50 countries including Canada, China, France, Japan and the UK.

Foreign entrepreneurs are obliged to engage with a professional corporate service firm to register on their behalf since a foreign company or an individual cannot self-register their company. If you would like to become the company’s local director, you need to obtain either an Entrepreneur Pass or an Employment Pass.

You can set up a company in an hour once we obtain all the necessary information from you. It also depends on the availability and service hours of local authorities, i.e. they are not available after business hours or on weekends.

Although a registered address is required for company incorporation in Singapore, it does not need to be your actual office.

Yes, you can be a director of a company if you are above 18 years old, whether you are a Singaporean, Singapore PR or a foreigner. Also, you may appoint more than 1 director for your company. Every company must appoint at least 1 local resident director with Singapore citizenship or permanent residency. If they are not a Singapore resident, the director must hold an Employment Pass or Entrepreneur Pass. Contact us now to engage our company incorporation services.

ACRA ( Accounting & Corporate Regulatory Authority ) is the government agency of company registration, financial reporting and corporate services in Singapore.