THE MAIN CHARACTERISTICS OF SINGAPORE COMPANY

General

Type of entity Private Limited
Type of law Common
Our time to establish a new company 3 – 5 days
Minimum government fees (excluding taxation) SGD 365
Corporate Taxation 17% + tax cuts
Double taxation treaty access Yes

Share Capital or Equivalent

Standard currency SGD $
Permitted currencies Any
Minimum number of issued shares One
Minimum paid up SGD 1
Usual authorised SGD 100 000

Directors or Managers

Minimum number One
Local required Yes – One
Publicly accessible records Yes
Location of meetings Anywhere

Members

Minimum number One (Corporation or Individual)
Publicly accessible records Yes
Location of meetings Anywhere

Company Secretary

Required Yes
Local or qualified Yes

Accounts

Requirement to prepare Yes
Audit requirements Yes but there are exemptions
Requirement to file accounts Yes but there are exemptions
Publicly accessible accounts Yes but there are exemptions

Other

Requirement to file annual return Yes
Change in domicile permitted No

Presentation of jurisdiction

Situated at the gates of East Asia, Singapore is a city-state that comprises 64 islands. Currently Singapore is third-world major financial centre, serving not only domestic economy, but worldwide. These are the most attractive features of Singapore for investors:

  • One of the most economically and socially developed countries in the world;
  • The gate of the Asian financial flow, which transfer access and excellent compatibility into market;
  • Well established business infrastructure;
  • Qualified workforce;
  • Stable political environment.

Singapore jurisdiction is also global company and offshoring friendly, it offers simple and stable solution with numerous benefits:

  • Low corporate tax rate, subject to be reduced to 0%.
  • Wide tax treaty network.

Singapore based holding companies can benefit from all of this and optimize their taxes reducing the withholding taxes in dividends and interest and royalties offered by these tax treaties.

Singapore tax jurisdiction can be more beneficial for certain individuals and activities.

Who should choose Singapore Company and for which activities?

Who?

  • Entrepreneurs;
  • Consultants;
  • Stockbrokers;
  • Holding companies.

Which activities?

  • International trade;
  • Inheritance tax purposes;
  • Holding of intellectual property rights (IP);
  • Ownership of movable and immovable property;
  • E-Commerce.

INTEREST OF THE JURISDICTION OF SINGAPORE

Advantages of a company in Singapore:

  • Efficiently and well administered jurisdiction.
  • Robust and highly effective business infrastructure and strategic location.
  • Taxes only applicable for profit sourced in Singapore.

Disadvantages of a company in Singapore:

  • Local resident director required.
  • A strict compliance with deadlines is required.

How to proceed

Provision of the following documents for incorporation of the company:

  • A completed application form signed by the company or by the representative;
  • Copy of valid passport;
  • A personal bill, which is less than 3 months old from the date of the application;
  • Payment of our fees.

Note: additional documents may be required depending on the certain offshore bank.

Set-up time: From the moment, we are in possession of all required documents:

  • Incorporation of a company or purchase of an existing company: 3 days;
  • Delivery of the original company documents: 15 days;
  • Offshore Bank: offshore bank account opening: 3 weeks.