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Company formation in Singapore
Comprehensive assistance in company formation, including banking services
How to form a company in Singapore
1
Document submission
You submit to us necessary documents of the future founders and directors for the purposes of company formation in Singapore and opening a bank account in Singapore
2
Payment of services
Payment of our services for company formation in Singapore and/or bank account assistance in Singapore
3
Company formation
We register a new company in Singapore for you. Upon completion of the registraion corporate documents are either delivered to you or submitted to a bank for the subsequent opening of a bank account
4
Bank account opening
In case you request an assistance with a bank account, we arrange an interview at the bank for you, inform you about the date of the visit and accompany you on your way to the bank. After the bank account is opened and active you receive corporate documents of the formed company as well as the access to the bank account
Key aspects to consider prior to incorporating a company in Singapore
Company incorporation in Singapore can be done with a share capital of just SGD 1.
1. Founders that would like to register a company in Singapore can either be resident or non-resident in Singapore. Founders can be either individuals or legal entities.
2. A resident or a non-resident individual can be a company director in Singapore. It is, however, required to register a company in Singapore with a resident as one of its directors. It is also necessary to have a resident company secretary in Singapore.
3. One individual can register a company in Singapore and simultaneously be a shareholder and a director in this company if such company is registered as a Pte. Ltd. (A limited liability company).
4. There is no requirement for creating substance in Singapore - no need to hire local employees or rent an office in order to register a company in Singapore or to conduct business in this jurisdiction.
5. Minimum share capital that is recommended to register a company in Singapore as a limited liability company (Pte. Ltd.) is just SGD 1.
6. Information about company founders, shareholders and directors after company registration in Singapore is complete is not publicly available in the state corporate register.
7. We can help you register a company in Singapore, as well as open a corporate bank account remotely, on the basis of a power of attorney.
2. A resident or a non-resident individual can be a company director in Singapore. It is, however, required to register a company in Singapore with a resident as one of its directors. It is also necessary to have a resident company secretary in Singapore.
3. One individual can register a company in Singapore and simultaneously be a shareholder and a director in this company if such company is registered as a Pte. Ltd. (A limited liability company).
4. There is no requirement for creating substance in Singapore - no need to hire local employees or rent an office in order to register a company in Singapore or to conduct business in this jurisdiction.
5. Minimum share capital that is recommended to register a company in Singapore as a limited liability company (Pte. Ltd.) is just SGD 1.
6. Information about company founders, shareholders and directors after company registration in Singapore is complete is not publicly available in the state corporate register.
7. We can help you register a company in Singapore, as well as open a corporate bank account remotely, on the basis of a power of attorney.
Cost of services
Formation of a Pte. Ltd.
Timeframe - 10 business days
Timeframe - 10 business days
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for company formation
Advantages of incorporating a company in Singapore
Attractive business-environment
- Singapore is 2nd on the Global Ease of Doing Business Rank
- Large financial center
- No restrictions for foreign investments
- Highly-developed infrastructure
- Low inflation rate
Stability and
security
security
- Political stability
- Secure legal and justice systems
- Comprehensive protection of property rights
- Comprehensive personal security
- Investment protection
Tax
benefits
benefits
- Tax exemptions for the first SGD 200,000 of 75% and 50% for the corporate income tax
- Dividend income tax rate is 0%
- Multiple double tax treaties
No foreign exchange controls
- Singapore state regulations do not impose foreign exchange controls. Individuals and business-entities, either resident or non-resident in Singapore may open bank accounts in Singapore banks in any currency
Ease of establishing and doing business
- Fast company formation in Singapore
- Minimum share capital requirement for a Pte Ltd. is just SGD 1
- Remote company formation in Singapore is available
More about Singapore
Singapore is a sovereign island city-state located in maritime Southeast Asia, off the southern tip of the Malay Peninsula. The territory of Singapore amounts to 637.5 square kilometers and is composed of 1 main island and 63 satellite islands and islets, as well as one outlying islet.
Singapore has an access to the Straits of Malacca, to the Singapore Strait, as well as to the South China Sea.
The population of Singapore currently amounts to around 5.7 million people.
Singapore has an access to the Straits of Malacca, to the Singapore Strait, as well as to the South China Sea.
The population of Singapore currently amounts to around 5.7 million people.
Official currency of Singapore is Singapore dollar (SGD).
Economy of Singapore is heavily dependent on exports, with a focus on electronics, technology and pharmaceutical products. Although these sectors constitute a primary part of the economy, the recent growth of the financial services sector has been more significant. Singapore has maintained low barriers to trade as part of an outward looking open economy.
GDP of Singapore currently amounts to more than USD 615.7 billion. The growth of the GDP in 2018 was around 3%, inflation - 0,44%. Export and import volume amounted to USD 323 billion.
Singapore is an advanced, successful free-market economy, featuring an open and corruption-free environment. Globally connected, a pro-business environment with a strong and stable infrastructure to boost and sustain growth and success in a myriad of industries.
Along the traditional engines of growth in the manufacturing and financial and business services, the economic landscape has moved to one that promotes knowledge-based and research-intensive industries. At the same time, there has been a significant growth and development in the biomedical sciences, clean technologies and interactive digital media industries.
Economy of Singapore is heavily dependent on exports, with a focus on electronics, technology and pharmaceutical products. Although these sectors constitute a primary part of the economy, the recent growth of the financial services sector has been more significant. Singapore has maintained low barriers to trade as part of an outward looking open economy.
GDP of Singapore currently amounts to more than USD 615.7 billion. The growth of the GDP in 2018 was around 3%, inflation - 0,44%. Export and import volume amounted to USD 323 billion.
Singapore is an advanced, successful free-market economy, featuring an open and corruption-free environment. Globally connected, a pro-business environment with a strong and stable infrastructure to boost and sustain growth and success in a myriad of industries.
Along the traditional engines of growth in the manufacturing and financial and business services, the economic landscape has moved to one that promotes knowledge-based and research-intensive industries. At the same time, there has been a significant growth and development in the biomedical sciences, clean technologies and interactive digital media industries.
Main fields for foreign entrepreneurs in regards to conducting business in Singapore are:
Restricted for foreign entrepreneurs are the following sectors:
- creative industry
- chemical industry
- high-tech industry
- investment services
- IT.
Restricted for foreign entrepreneurs are the following sectors:
- telecommunications
- television, radio
- postal services
- air transport
- banking services
- real estate.
- Corporate income tax - 17%, tax exemptions provided for newly incorporated Pte Ltd. during the first 3 years for the first SGD 100,000 - 75%, for the next SGD 100,000 - 50%
- Dividend withholding tax - 0%
- Interest withholding tax - 15%
- Royalties withholding tax - 10%
- Capital gains tax - 0%
- GST - Standard tax rate 7% or reduced rate 0%
- Personal income tax - from 0% up to 22%.
Key types of business entities in Singapore are the following:
1. General partnership - GP
2. Limited partnership - LP
3. Limited Liability Partnership - LLP
4. Private Limited Company - Pte. Ltd.
5. Public Company Limited by Shares.
Individuals and legal entities, either resident or non-resident in Singapore can establish these business entities.
To receive a detailed description of the company formation procedure in Singapore and information about documents necessary for company formation Singapore please contact our experts.
1. General partnership - GP
2. Limited partnership - LP
3. Limited Liability Partnership - LLP
4. Private Limited Company - Pte. Ltd.
5. Public Company Limited by Shares.
Individuals and legal entities, either resident or non-resident in Singapore can establish these business entities.
To receive a detailed description of the company formation procedure in Singapore and information about documents necessary for company formation Singapore please contact our experts.
Send a request for company formation in Singapore
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Phone: +44 20 8157 4037
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128 City Road,
London, EC1V 2NX
Phone: +44 20 8157 4037
Email: request@pil-services.com
