Setting up a company in Singapore
Singapore, widely recognized as an excellent jurisdiction for company incorporation, presents a highly favorable business environment. One notable advantage is Singapore's attractive corporate tax regime, including exemptions and incentives, which makes it an appealing destination for entrepreneurs and businesses looking to establish a strong presence. With its robust infrastructure, pro-business policies, and strategic location, Singapore offers immense opportunities for growth and success.
Why go to Singapore setting a company?
Singapore company registration is a popular solution for international businesses due to its favorable tax policy, high level of economic stability and ease of doing business. Many entrepreneurs seek to register a company in Singapore to take advantage of a number of advantages such as low tax rates, no withholding tax on dividends and a well-developed legal system.
Benefits of registering a company in Singapore - Singapore attracts businessmen from all over the world due to its transparent legislation and the ability to protect assets. Companies in Singapore can operate in various industries, from IT to international trade. In addition, registering a company in Singapore is a relatively quick procedure - it can be completed within a few days.
Offshore Companies in Singapore - Singapore is also popular as an offshore jurisdiction. If you are looking to buy an offshore company in Singapore, it is important to understand that although the country is not a classic "offshore" paradise, companies can legally reduce their tax liabilities provided that they comply with all international rules and regulations. An offshore company in Singapore provides the opportunity to minimize taxes on income earned outside the country, which is especially beneficial for international corporations.
How to open a company in Singapore - In order to open a company in Singapore, you need to follow a few simple steps. First of all, you will need to choose a unique name for your company and register it. Next, you will need to appoint a resident director who will be responsible for the company's activities. The procedure also includes filing documents with the registration authorities of Singapore. Local legislation allows non-residents to set up a business, which makes the process accessible to international entrepreneurs.
If you are planning to open a company in Singapore to conduct international business, it is important to work with qualified professionals who can help with the legal aspects. Registering a company in Singapore involves several formal steps, and professional support can make the process much easier.
Singapore is one of the best places in the world to set up a business. Offshore companies in Singapore and traditional firms provide many opportunities for international operations. Whether you are planning to open a company in Singapore or buy an offshore company in Singapore, it is important to be aware of all the legal and tax aspects. The Singapore system is simple, transparent and efficient, making it ideal for entrepreneurs from all over the world.
How much does it cost to register a limited liability company (pte) in Singapore?
The basic package includes:
Company name check
Company registration
Legal Secretary Services
State duties
Registered office (one year)
The main advantage of the basic package is that it provides the necessary services for setting up a company, while keeping costs relatively low. It covers the basic requirements for setting up a legal entity.
Standard package includes:
Company name check
Company registration
Legal Secretary Services
State duties
Registered office (one year)
Apostille of a set of documents
Courier delivery (international courier service)
The main advantage of the standard package is the inclusion of courier delivery and a legalized set of documents. Legalized documents are easily accepted by banks and financial institutions around the world.
The Premium package includes:
Company name check
Company registration
Legal Secretary Services
State duties
Registered office (one year)
Set of documents with apostille
Courier delivery (international courier service)
Nominee director
Nominee shareholder
Additionally, by using both a nominee shareholder and a nominee director, you can achieve the highest level of privacy and anonymity for the owners.
The extended package includes:
Company name check
Company registration
Legal Secretary Services
State duties
Registered office (one year)
Apostille of a set of documents
Courier delivery (international courier service)
Nominee director
In addition, the inclusion of a nominee director provides an additional level of privacy and anonymity for the actual owners or managers of the company. This arrangement also allows the nominee director to be appointed as an authorized signatory on contracts.
Singapore Law Requirements for Non-Resident Company Formation
Setting up a company in Singapore by non-residents is subject to strict regulation under the Companies Act of Singapore. Singapore attracts businessmen from all over the world due to its favorable tax policy, transparent laws and stable economy. However, for the successful establishment and operation of a company, it is important to strictly follow the requirements of local legislation.
Types of companies. There are several types of business structures in Singapore, the most popular of which is the private limited company. Under Section 4 of the Singapore Companies Act, a private company limits the right of its shareholders to transfer shares and has no more than 50 shareholders.
Founders and Directors: Every Singapore company must have at least one director who is a Singapore resident as specified in Section 145 of the Companies Act. Non-residents may appoint additional directors, but a local director is mandatory.
Registered Office and Agent. Under Section 142 of the Companies Act, every company must have a registered office in Singapore that is accessible to the public during normal business hours. Companies must also appoint a registered agent who is responsible for maintaining all corporate records in order and filing them with the relevant government authorities.
Minimum Authorised Capital: The Singapore Companies Act does not stipulate a minimum authorised capital for the incorporation of a company. However, the company must issue at least one share upon registration as specified in Section 171.
Tax requirements. Singapore is known for its attractive tax system. Under Section 43 of the Income Tax Act, companies pay tax at a rate not exceeding 17% of their profits. There are also various tax incentives for startups and small businesses.
Annual accounts. Every company is required to file annual accounts, including audited financial statements, under section 197 of the Companies Act. This ensures transparency of the company's financial position and activities to shareholders and government authorities.