Company Registration Singapore

Company registration in Singapore will enable you to do international business with highly reputable and respectable company’s jurisdiction.

Singapore still maintains high privacy, enabling you to keep your business affairs private & confidential. Singapore, nevertheless, has considerably low corporate tax rates.

EU LAW FIRM offers company formation in Singapore completely remotely, so there is no need for personal presence to form a company. We offer full legal assistance to our clients in incorporating the companies in Singapore.

Singapore Background:

The Republic of Singapore is a sovereign island city-state in maritime Southeast Asia. 

Singapore is famous for its economic development and flexibility on company registration, as well as tax management options. Singapore rapidly developed to become one of the Four Asian Tigers (external trade) and is one of the countries with AAA credit rating.

Singapore is a highly developed country, ranked 11-th on the UN Human Development Index and has the second-highest GDP per capita in the world.

Company in Singapore is a perfect solution for foreign individuals and businesses seeking to do international business in a country with free economy, business-friendly progressive tax rates (the tax in Singapore ranges from 0-17% depending on the amount of company’s taxable income) and zero corruption tolerance. 

Singapore is one of the countries worldwide that attracts the majority of foreign investment in real estate, luxury goods, finance and other sectors.

Capital city: Singapore

Population: 5,453,600

Local currency: Singapore dollar (SGD)

Official language: English, Malay, Mandarin, and Tamil.

Business language: English, Malay, Mandarin, and Tamil.

 

SINGAPORE private LIMITED LIABILITY COMPANY
FROM EUR 3200
All documents and state fees are included
ORDER NOW

Description of low capital limited liability company in Singapore (LLC):

  • Minimum share capital from SGD 1.
  • Company’s responsibility is limited to its share capital, and each member’s obligation is restricted to the amount of share capital he or she holds (shareholder).
  • No turnover limitations.
  • No limitations on business activities.
  • Fast registration.
  • Minimum 1 shareholder.
  • May be exempt from statutory annual audit.
  • Individuals or corporations can be shareholders.
  • The ownership is easily transferable.
  • The shareholder’s personal assets are protected from the company’s obligations.
  • The maximum number of shareholders in a Private Limited Company in Singapore is 50.

HOW THE ORDER SYSTEM WORKS?

1. Choose the most suitable company type and make online order

 

Choose the most suitable company formation package from STORE EU LAW FIRM, and place an online order with the available payment methods. After successful order you will receive an email confirmation with your order details.

2. Collection of documents and KYC verification

 

After successful order and receipt of payment, our customer support will get in touch with you to acquire the required documentation for company formation in Singapore.

3. Company registration Singapore

 

The company registration in Singapore takes approximately 7-14 business days after all required documents have been received. After company has been incorporated, physical company formation documents with apostilles will be sent to your mailing address.

Why do business in Singapore?

  • Tax rules

Corporations are subject to tax on all profits (excluding profits arising from the sale of capital assets) arising in or derived from Singapore, as well as certain foreign-sourced income from their business. Nevertheless, Singapore provides progressive tax rates that allow to reduce the tax burden depending on source of income and total amount of profit.

  • Business environment

Singapore has developed a thriving business and innovation ecosystem that includes worldwide businesses, venture capital funds, incubators, and accelerators. Singapore is not only one of the richest countries in the world, but also one of the easiest places to do business.

  • Regulatory requirements 

Singapore is proud of its reputation as a trustworthy and transparent business place, and continues to retain that reputation in an ever-changing global context. Through its policies, the Singapore government is dedicated to promoting a pro-business climate, offering advanced tax rules, clear transfer pricing guidelines, high level of security and confidentiality, and regulatory sandboxes available for start-ups.

Tax system in Singapore

Singapore’s tax system is based on a territorial basis. Meaning, companies and people are primarily taxed on income earned in Singapore.

Unless the money is already subjected to taxes in a jurisdiction with headline tax rates of at least 15%, foreign sourced income (branch earnings, dividends, service income, etc.) would be taxed when repatriated or considered remitted into Singapore. 

Although the notion of source of income localisation appears straightforward, there is no universal rule that can be applied to every situation. Earnings are generated in or derived from Singapore depending on the nature of the profits and the transactions that generate them.

Tax rates:

Corporate tax rate: 17%. Singapore continues to attract a large percentage of international investment by keeping corporate tax rates low.  Company’s earnings are taxed but not passed on to its shareholders (i.e. dividends are tax free).

Capital gains tax: There is no capital gains tax in Singapore. As a result, capital loss expenditures are not allowable as deductions.

Value added tax (Goods and Services tax – GST): The current rate is 7%.

Withholding tax: In Singapore, withholding tax is applied on interest, royalties, rentals from moveable properties, management and technical fees, and director’s fees paid to non-residents (individuals or businesses).

DOCUMENTS REQUIRED FOR COMPANY FORMATION IN SINGAPORE

For individuals:

  • Passport copy of all shareholders;
  • Passport copy of all directors;
  • Brief explanation of business activities;
  • Copy of a recent utility bill not older than three (3) months.

If shareholder is a legal person:

  • Copy of Certificate of Incorporation or other similar document; evidencing the entity’s existence; 
  • Copy of the Register of Directors;
  • Copy of the Register of Shareholders;
  • Copy of valid passport of the Directors;
  • Bank Reference Letter;
  • Professional Reference Letter.

Please note that in Singapore, when forming a company it will be necessary to translate any non-English documents.

Company can be registered in Singapore in a few hours once the incorporation documentation have been filed. Authorities may, in certain circumstances, require further information from shareholders or directors of specific nationalities.

DOCUMENTS FOR SINGAPORE COMPANY BANK ACCOUNT:

  • Passport copy of all directors and shareholders;
  • Utility bill not older than 3 months;
  • CV of the company management;
  • Business plan.

Banks may request additional documentation from case to case. Due to the AML regulations, please note that we do not guarantee bank account opening as the ultimate decision regarding bank account opening depends on the particular bank’s decision. 

Note: All documents in a foreign language must be translated into English and certified by a qualified translator. 

Interested in setting up a company in Singapore?

EU LAW FIRM will take care of all of the necessary procedures and paperwork for company registration in Singapore. Contact us to register company in Singapore. We usually respond within 2 hours.