Singapore Company Incorporation - Company Registration - IMC

SINGAPORE

singapore company incorporation

Singapore, officially the Republic of Singapore, and often referred to as the LION CITY is a global city in Southeast Asia and the world’s only island city-state. Singapore is a global commerce, financial and transportation hub. Singapore has a highly developed trade-oriented market economy. Singapore’s economy has been ranked as the most open in the world, 7th least corrupt, most pro-business with low tax rates and has the third highest per-capita GDP in the world. The Gross Domestic Product (GDP) in Singapore was worth 307 Billion US dollars in 2014. The GDP value of Singapore represents 0.50 percent of the world economy. All these reasons make Singapore company incorporation a sought after business expansion strategy. For more details on company setup in singapore read below.

Singapore Company Incorporation & Company Registration

  • A company is a business entity registered under the Companies Act. In Singapore Company incorporation, a company has a legal personality i.e. it has rights to own properties, has perpetual succession and can sue or be sued in its own name. usually has the words ‘Pte Ltd’ or ‘Ltd’ as part of its name.
  • A Limited Liability Partnership (LLP) is a vehicle for doing business in Singapore. An LLP gives owners the flexibility of operating as a partnership while having a separate legal identity like a private limited company
  • A Limited Partnership (LP) is a vehicle for doing business in Singapore. It is a partnership consisting of a minimum of two partners, with at least one general partner and at least one limited partner. An LP does not have a separate legal entity from the partners.

 Licensing in Singapore Company Incorporation

  • As part of company registration all business must be registered with the Accounting & Corporate Regulatory Authority (ACRA).

 ACCOUNTING AND TAX FOLLOWING COMPANY SETUP

  • Foreign Companies in Singapore incur a corporate tax rate of 17% of net profit under US$ 1,450,000, capital Gains Tax is exempted, Withholding Tax for Dividends is exempted and Goods and Service Tax is 7%.

Type of Company setup in Singapore Limited Liability Company (WLL)
Access to Singapore double tax treaties Yes
Under Singapore law, foreigners can own 100%
Minimum Share Capital 100%
Minimum Share Capital S$ 1
Directors Minimum one
Shareholders Minimum One
Memorandum and Articles of Association Yes
Can the entity hire expatriate staff in Singapore Yes
Secretary Yes
Tax Registration Certificate Required Yes
Statutory audit required Yes
How long to open Corporate Bank Account 3-4 week
Timeframe for Incorporation: 2 weeks
Annual Return Yes
Annual Tax Yes
Access to Singapore double tax treaties Yes

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