Copyright © 2013 - 2018. Tai Pan Management Services Ltd., Company Service Provider Licence No. TC004077
 Registered in Hong Kong. No 1942748

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Hong Kong Licensed Company Service Provider

Tai Pan Management Services

Last update: 27 Nov 2018

























Singapore consistently ranks at or near the top of the World Bank’s ‘Ease of Doing Business’ index. Company incorporation is done online and therefore very fast. The maximum corporate tax rate is 17%, but there are various exemptions and allowances e.g. resident companies are entitled to a Zero rate of tax on the first S$ 100,000 of profit and the effective rate of tax of the first S$ 300,000 is 3.4% .

SINGAPORE COMPANY FORMATION

Statutory requirements


Share Capital


The minimum issued capital for a Singapore company can be one share of S$ 1.

Directors & Shareholders


A Singapore company may have a sole director however at least one director must be resident in Singapore.   It is also possible to have a single shareholder, and again we can introduce a nominee. We can provide services of both local director and nominee shareholder.


Secretary and Registered Office


Every company must appoint a secretary within 6 months of the date of its incorporation. The company secretary must be residing locally in Singapore.


Every Singaporean company must have a registered office in Singapore.


Law & Taxation of Singapore companies


Effective Corporate Tax Rate for New Companies (YA 2018)

Eligible for the Start-up Tax Exemption (SUTE) scheme


The eligibility conditions include:


Audit and Accounts requirements


All Singapore companies must submit accounts annually to the Singapore Inland Revenue and to the company registry.


Companies with a substantial turnover (over S$5 million) also require an audit. The submission of accounts to the public registry provides substance and counteracts possible allegations of it being a “brass plate” company.




Annual Returns


The annual return, submitted to the Registrar of Companies, contains details of the shareholders and directors of the company and is available to public inspection.

GST - Singapore Equivalent Of VAT System


The VAT system in Singapore is known as GST. It however does not apply to transactions conducted outside Singapore.


For more information on GST please click here ( you will be redirected to Inland Revenue Authority of Singapore)

Profit (S$)

Tax Rate in %

0 - 100,000

0

200,000

2.55

300,000

3.4

400,000

5.1

500,000

7.2

WHY CHOOSE SINGAPORE




Low rates of corporate tax (0% to 17%).


Singapore is considered a reputable jurisdiction.


Very fast incorporation - can be same day.


No withholding taxes on dividends.

Profit (S$)

Tax Rate in %

1,000,000

12.1

2,000,000

14.55

3,000,000

15.37

4,000,000

16.02

5,000,000 / 10,000,000

16.02 / 16.51