Singapore Company Information

Singapore Company Formation :

BENEFITS OF INCORPORATING A SINGAPORE PRIVATE LIMITED COMPANY

To encourage local entrepreneurship, Singapore Government has declared a full tax exemption for newly incorporated companies. Full tax exemption is granted on the first $100,000 of Chargeable Income for qualifying new companies for the first three years of assessment consecutively.

• Newly Singapore setup Companies Pay Zero Corporate Tax for the first $100,000 Profit for 3 years consecutively.
• Zero taxes on capital gains, dividends paid to shareholders are tax exempt (shareholders receiving dividends are not subjected to tax)
• Protect your personal assets
• No exchange controls or restrictions on repatriation of profits

• Business Migration Visa (entrepreneur pass) available for foreign entrepreneurs who wish to establish their company and reside in Singapore to run their new Singapore company.

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

a) be incorporated in Singapore (other than a company limited by guarantee);

b) be a tax resident* in Singapore for that YA;

c) have no more than 20 shareholders throughout the basis period for that YA where:

i) all of the shareholders are individuals beneficially holding the shares in their own names; OR
ii) at least one shareholder is an individual beneficially holding at least 10% of the issued ordinary shares of the company.

*A Company is resident in Singapore if control and management of its business is executed in Singapore.

SINGAPORE COMPANY INCORPORATION REQUIREMENTS

• Minimum 1 individual director is required and at least one director has to be an ordinary resident of Singapore who can be a Singapore Citizen/Permanent Resident/Employment Pass Holder. If you have problems finding a resident director we can step in as one. Our fees are indicated on the table below. We will collect a refundable security deposit of S$3000.00 which will be refunded upon our stepping down as director. Kindly let us know if the Singaporean Shareholder will also be a Director.
• Minimum 1 individual Shareholder or 1 corporate body as 100% shareholder is required. You do not need a Singaporean for a shareholder.
• Minimum paid up capital is S$1.00
• Time taken to incorporate a Company is approximately 1 day to 2 days depending on case to case
• All Pte Ltd companies which are non-exempt (where the shareholder is a Company) are required to do annual Audit. This is waived if the Company is exempt Pte Ltd Company where the shareholders are individuals and the turnover is less than S$5 million per annum
• All Pte Ltd Companies are required to have a Company Secretary. We will act as your Company Secretary.
• All Pte Ltd Companies are required to have a Local Registered address (P.O. Box not allowed). You may avail of our registered office address service.

· I append below our fees (in Singapore Dollars) for incorporation and related services for your perusal.

FEES FOR PRIVATE LIMITED COMPANY

INCORPORATION FEES (Includes all filing fees, complete kit and opening of bank account in Singapore)	S$1000.00
COMPANY SECRETARY (excluding disbursement costs and filing fees)	S$900.00/Annum
OPTIONAL SERVICES
*REGISTERED ADDRESS (S$50.00/Month)	S$700.00/Annum*
*NOMINEE DIRECTOR (S$300.00/Month)	S$3600.00/Annum* +S$3000 Refundable Deposit
Employment Pass Application EntrePass Application	S$2200.00 S$2500.00

*Pro-rated on a monthly basis.

PROCEDURE FOR INCORPORATION

Should you wish to proceed with the incorporation of the company kindly furnish us with details of those who will be acting as the directors and shareholders of the company as requested on the attached form. Kindly return the duly completed form via email for further action and furnish us copies of passport particulars and proof of address (e.g. bank statement, utility bills) of directors/shareholders.

Upon receiving your confirmation and payment, we will draw up the necessary incorporation papers for the directors/shareholders to sign either in Singapore before us or if you prefer signing these documents without having to come to Singapore we can send these documents to you for the necessary signatures before a notary public.

After the company is incorporated, we will assist you to open corporate bank account in Singapore.

Please do not hesitate to contact me should you have any further questions.