A Singapore company is considered very reputable jurisdiction. It is suitable for all forms of trading business.
We have been successfully forming companies for our clients in Singapore since 2008. We will guide you through the process to ensure you have a fully functioning Singapore company.
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A Singapore company is considered very reputable jurisdiction. It is suitable for all forms of trading business.
The two most common reasons why we recommend Singapore are: territorial taxation & ease of doing business.
The maximum corporate tax rate is 17%, but there are various exemptions and allowances, particularly in the first three years of operation. Please take a look at the Singapore tax rates 2021 lower down.
Singapore is considered a reputable jurisdiction. 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.
Singapore places no restrictions on a nationality of directors or shareholders and no visit is required to Singapore to establish your company.
Local director is required
Minimum formalities to
set up the company
4.25% to 17%
tax rate
No visit required
to Singapore
The maximum corporate tax rate is 17%, but there are various exemptions and allowances, particularly in the first three years of operation.
After 3 years the concessions are reduced but not eliminated – taxable income up to 10K is taxed at 4.25%, from 10,001 – 200,000 at 8.5% and from $200,001 up to $2m 17%.
All Singapore companies must submit accounts annually to the Singapore Inland Revenue and the company registry. Companies with a turnover over S$5 million also require an audit.
The graph below shows the effective tax rate in the first 3 years of operation.
A Singapore company may have a sole director, and at least one director must be resident in Singapore. Our fees include the services of a local director.
It is also possible to have a single shareholder. The minimum issued capital for a Singapore company can be one share of S$ 1.
Every company must appoint a secretary residing in Singapore. Every Singaporean company must have a registered office in Singapore.
The annual return, submitted to the Registrar of Companies, contains details of the shareholders and directors of the company and is available for public inspection.
GST. The VAT system in Singapore is known as GST. It, however, does not apply to transactions conducted outside Singapore.
Singapore maintains a public registry from which one can obtain details of the company’s officers.
We advise clients as to where and how management & control should be structured.
Don’t let the tax tail wag the dog.
In other words financial decisions should not solely be based on tax considerations but rather on the overall business/investment decision.
Sometimes a company may need to re-domicile but maintain its existing contracts and relationships. Such a company could re-domicile (change its place of registration to anther country).
Find out more from our re-domiciliation guide for more information.
We have series of business guides avalable to our newsletter subscribers.
Many people want to both run a business but also not to be bound to a traditional office. We can advise on how to achive this.
