Companies

Singapore Limited Liability Company is an effective business tool for starting a business due to minimal business restrictions, tax exempted non-local business operations. The company is usually used for holding and investment companies or regional headquarters.

Incorporation: within 9 working days + delivery time for the courier


Minimum paid up capital: No minimum capital requirement

 

Overview

The Republic of Singapore (SG) is an island nation situated in Southeast Asia between Thailand and Malaysia. The SG economy is one of the most intensively growing financial systems in the world.

SG is known for its business-friendly regulatory environment, ease of doing business. The country is one of the key economic centres of Southeast Asia in such areas as shipping, trade, high-tech, and financial services. Singapore political stability, pro-business policy and extremely tax benefits are three key reasons why entrepreneurs from around the world prefer to incorporate start-ups companies in Singapore.

The most common type of business entity to be set up in SG is the Private Limited Company. The Private Limited (Pte Ltd) company is the safest and the most cost-beneficial way to set up a business in SG as this form of business registration protects shareholders’ personal assets by separating them from the company’s liabilities and limiting the latter with the share capital. Company’s members do not risk their personal possessions in case the company has debts or issues with the law because the company’s separate legal entity lets it be liable in its own name. Private Limited is the best choice for serious businesses that aim at growing as most of its benefits (including the tax ones) are tangible in a long-term outlook.

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Name check
Company incorporation
  • Name check and approval
  • Filling the incorporation documents with the Registrar of Companies
  • A standard set of original corporate documents
  • Payment of the Government fee
  • Provision of registered office and company secretary for one year
Local secretary
Government fees
Registered office for 1 year
Delivery of original documents
Apostilled documents
  • If applying for a corporate bank account, you will need to order a full set of apostilled company documents when the account is opened outside of the country of Company.

Please note:

  • Singapore is not a member of the Hague Convention. For documents to be officially recognized outside of Singapore, you will need to verify/apostille them with the Singapore Ministry of Foreign Affairs (MFA) and to legalize them in the country of use.
Nominee director and shareholder
  • This service is required if you do not want your name to appear in the corporate documents or in the government registry. For this purpose, we will appoint another person or entity that will act on your behalf and for your interests and benefit. Such a relationship will be legally based on Power of Attorney and Trust Declaration. Despite Power of Attorney not being publicly available, such service does not guarantee 100% confidentiality. In case of request from public authorities the information about actual beneficial owner may be disclosed.
Total amount:
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Facts & Info for Singapore Private Limited Liability Company (LTD)

Company
Services
Requirements

General information

Company structure

IMPORTANT: At least one director must be a resident of Singapore. Corporate directors are not allowed. Minimum number of directors – one.

  • Only one shareholder (can also be a legal person, no nationality restriction or residency restrictions)

 Confidentiality

  • Beneficial owners' details – Not part of public record
  • Shareholders' details – are part of the public record, if you wish to avoid it then please request a nominee service
  • Directors' details – are part of the public record, if you wish to avoid it then please request a nominee service

Taxation

Singapore registered companies enjoy very attractive tax exemptions and incentives. Your company pays less than 9% for the first S$300,000 annual profits and 17% flat after that for Year Assessment 2010-2012 on income sourced in Singapore. There are no capital gains or dividend taxes on Singapore companies. Excellent tax benefits and business reputation of Singapore are the key reasons why entrepreneurs fr om around the world prefer to form a company in Singapore.

To support entrepreneurship and to help Singapore local enterprises grow, a newly incorporated company that satisfies the qualifying conditions can claim for full tax exemption on the first $100,000 of normal chargeable income (excluding Singapore franked dividends) for each of its first three consecutive Year Assessments.

A further 50% exemption is given on the next $200,000 of the normal chargeable income (excluding Singapore franked dividends) for each of the first three consecutive Year Assessments.

  • First $100,000 @ 100% = $100,000
  • Next $200,000 @ 50% = $100,000
  • Total $300,000 = $200,000

To qualify for the tax exemption for new start-up companies, your company must:

  • be incorporated in Singapore (other than a company limited by guarantee);
  • be a tax resident* in Singapore for that Year Assessment. A company is resident in Singapore if the control and management of its business is exercised in Singapore.
  • have no more than 20 shareholders throughout the basis period for that YA wh ere:a)all of the shareholders are individuals beneficially and directly holding the shares in their own names; OR b)at least one shareholder is an individual beneficially and directly holding at least 10% of the issued ordinary shares of the company.

Other benefits

  • Company meetings need not be held in Singapore. A new company must hold its first Annual General Meeting (“AGM”) within 18 months. Thereafter, the company must hold its subsequent AGM in every calendar year, and not more than 15 months from the last AGM.

Accounting requirements

For companies with annual turnover over S$5m, annual audited accounts are required to be filed with the Singapore Registrar; the accounts must be audited by a qualified Singapore auditor. However, Exempt companies are not required to have their accounts audited and annual accounts can be filed without audit. To be defined as Exempt Company, the following conditions must be met: members of the company must not exceed 20, members of the company should be individuals and not a corporation, and annual turnover should not exceed S $5m.

Secretary

Required (must be a natural person, resident of Singapore)

Registered Agent

Required

Registered office

Required

Company name

  • Language: Any
  • Letters: From Roman alphabet
  • Company name must end with such words: Private Limited, Limited or such suffixes Pte. Ltd or Ltd.
  • Names Requiring Consent or a Licence: Bank, Financial institution, insurance, fund management, university, Chamber of Commerce and other similar names

N.B.

  • Restricted connections for company name: name of state, national or local government.
  • Any name that implies illegal activity or implies royal or government patronage is restricted.
  • Registrar may reject any name which it considers undesirable, contrary to the public interest or are politically sensitive.
  • Company name is restricted to be identical or similar that of an existing company.
  • In case when foreign language is used for company name the translation must be provided to Registrar which will ensure conformity to above listed restrictions.

Incorporation

  • Name check and approval
  • Filling the incorporation documents with the Registrar of Companies
  • A standard set of original corporate documents
  • Payment of the Government fee
  • Provision of registered office and company secretary for one year

Please provide us with the following documents and data:

 Incorporation

  • A notarized copy of valid passport (of each Shareholder, Director, Beneficial Owner, Authorized Signatory)
  • A copy of proof of residential address (ex. utility bill of each Shareholder, Director, Beneficial Owner, Authorized Signatory that is not older than 3 months) in English
  • Optional: A notarized copy of Bank reference (of each Shareholder, Director, Beneficial Owner, Authorized Signatory)
  • Optional: CV (of each Director and Shareholder)

N.B.

  • If Shareholders and/or directors are legal persons, then it is required to submit full set of apostilled company documents and if company is operating more than 1 year it is required to submit certificate of Good Standing.
  • If documents are not in English language or language of particular country, then they must be accompanied by a notarized translation.

 Capital

  • Amount of paid up capital

 Company name

  • Three company names in order of preference