Company Incorporation

Why incorporate in Singapore?

Singapore is well-recognized as a global business hub and is an excellent choice for aspiring entrepreneurs to start their business ventures. The Private Limited Company (“Pte Ltd Company”) is the most common form of business entity in Singapore.

Benefits of Private Limited Company

1. It has its own legal identity, which means that it has the right to own assets, including properties and it can sue and be sued in its own name.

2. The directors and shareholders of the Company have limited liabilities from any debts, losses or contingent liabilities of the Company.

3. A business operating under a Company is generally viewed by the public to convey more trust and credibility, compared to other forms of business entities.

Pre-Registration

Things to take note

DIRECTORS

At least one person ordinarily resident in Singapore (either a Singapore citizen, a Singapore Permanent Resident, or a person who has been issued an EntrePass, Employment Pass or Dependant’s Pass) must be appointed as director of company.

There is no limit on the number of local or foreign directors that a Singapore company may appoint. Directors must be at least 18 years of age and must not have been a bankrupt or convicted of any malpractice in the past.

There is no requirement that directors have to be shareholders as well. Thus, non-shareholders may be appointed as directors.

SHAREHOLDERS

A Singapore private limited company can have a minimum of one and a maximum of 50 shareholders. A shareholder can either be a natural person or a legal entity such as another company or a trust.

Singapore companies are allowed to have 100% local or foreign ownership. New shares can be issued or existing shares can be transferred to another person after the company has gone through the incorporation process.

COMPANY SECRETARY

According to the Singapore Companies Act, every company must appoint a qualified company secretary within 6 months of incorporation. The company secretary must be a natural person who is ordinarily resident in Singapore.

It is important to note that in the case where there is only a sole director/shareholder, the same person cannot act as the company secretary. The office of company secretary also cannot be left vacant for more than 6 months at any one time.

PAID-UP CAPITAL

The minimum paid-up capital for registration of Singapore company is S$1. Paid-up capital (or share capital) can be increased anytime after the incorporation of the company.

REGISTERED ADDRESS

In order to register a Singapore company, a local Singapore address must be provided as the registered address of the company. The registered address must be a physical address (can be either a commercial or residential address) and must not be a P.O. box.

Under the HDB’s Home Office Scheme, individuals may also use their residential address as the business address. This scheme applies to both HDB and private properties.

If you wish to use residential address as business address, you are advised to check with respective authority. Eligible flat owners/occupiers must seek prior approval from HDB, and owners of private residential property must seek prior approval from URA.

For Singapore companies, the registered office in Singapore must be both operational and accessible to the public during normal office hours.

CORPORATE TAX

The corporate tax rate in Singapore is 17%. Singapore registered companies enjoy very attractive tax exemptions and incentives. For instance, a new start-up company will receive 75% tax exemption on the first S$100,000 of chargeable income and 50% tax exemption on the next S$100,000 of chargeable income.

Notably, there are no capital gains or dividend taxes on Singapore companies.

Documents and information required

• Company name

• Brief description of business activities

• Shareholders’ particulars

• Directors’ particulars

• Registered address (provided for free for the first year of company incorporation)

• Company secretary’s particulars (you can engage us to be your company secretary)

• Company constitution (to be prepared by us)

• The last day of the company’s proposed financial year end

How we will assist you

We will guide you step-by-step on the information required, prepare all the necessary documentations and make the applications on your behalf. We seek to make the process of the greatest convenience to you and most importantly, to give you the peace of mind that your company incorporation is handled by professionals.

Our Fees

The above amounts are inclusive of registration fees payable to ACRA.