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Registration of a company in Singapore
- Price:from 2400 EUR
- Term:up to 10 days
Singapore is one of the most technologically advanced and safest countries in the world. The jurisdiction has been ranked among the top three countries in terms of ease of starting a business in the Doing Business ranking for many years in a row. Not surprisingly, the leading technology corporations Apple, Google, Pfizer and Microsoft have open branches here.
A small peninsula is developing so rapidly that all the cutting-edge innovations and technologies are generated in this region. This was made possible by attracting foreign investors and highly qualified personnel from all over the world.
Opening a company in Singapore is most suitable for such business areas as: trading activities, logistics, Fintech, IT, startups, technology, intellectual property, E-Commerce, cryptocurrency.
- initial consultation on company registration
- company name check
- compliance of documents for compliance with Singapore legal requirements
- preparation of statutory documents for company registration
- preparation of a constitution for company registration
- registration services
- payment of necessary fees for company registration
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Additional services (paid separately):
- Secretarial services for 12 months - 1500 EUR.
- Registered address for 12 months - 2000 EUR.
- registration of the annual meeting of shareholders in accordance with the laws of Singapore
- secretarial services for 12 months
- Additional services (paid separately):
- Registration address for 12 months - 2000 EUR.
Opening a business account for a company in the Payoneer or Emerald24 payment systems is a comprehensive service from our company. This service does not require additional payment, as we strive to ensure the most comfortable start of your company and emphasize the importance of our cooperation. You pay only bank fees in accordance with the requirements of the payment system, and we take full responsibility for communication with the payment system and collection of documents.
Please note that this offer is valid only if the company's activities comply with the specified payment systems (high and ultra-high risk are not included in the list of permitted activities).
- 1Singapore is not offshore, but has the prestigious status of the financial center of Asia
- 2Strong economic system of the country, lack of bureaucracy and corruption
- 3Popular trade destination, wide network of international trade agreements
- 4The country has concluded more than 90 tax treaties, including with Ukraine
- 5A start-up business can claim tax deductions under the SUTE program
- 6The international income of the company is not subject to local taxation
- 7Registration of a company in Singapore does not require personal presence, the country is as digitalized as possible
- 8Non-residents have the right to full ownership of the company
- 9High level of beneficial ownership confidentiality
Singapore's tax system is one of the most attractive in Asia. Non-resident companies that do not conduct local business do not pay corporate tax, dividend tax, or capital gains tax. Resident companies and those with domestic or overseas income in Singapore pay income tax at 17%.
- However, there are a number of exemptions on corporate tax:
- - The first €67,150 of income is exempt from tax for the first three years after the company is registered in Singapore.
- - Income received over €67,150 but less than €201,450 is taxed at a discount of 50% of the normal rate for the first three years.
Dividend payments made by Singapore resident companies are not subject to withholding tax (except for cooperatives) and VAT under the single-tier corporate tax system. Singapore also does not impose income tax on dividend payments made by resident companies.
Rates on other passive income may be reduced by applying Double Taxation Treaties.
Compulsory GST registration is only required if there are domestic sales and the annual turnover exceeds SGD 1,000,000. Accordingly, exports and imports are not taxed.
Doing business in Singapore can be implemented by creating a limited liability company (closed or public), partnership, partnership, branch, representative office.
In order to be exempt from local taxation, non-residents register private limited liability companies - Private Limited Company (Pte Ltd).
- Capital - 5000 Singapore dollars, no capital contribution required, declaration of the specified amount is sufficient. Savings account is not required.
- Shareholder - a private or corporate person of any residency. The minimum number is one.
- Director - only an individual. At least one director must be a local resident. The position is compatible with the shareholder. A resident of Ukraine or another country can be appointed as a second director.
- Secretary - Mandatory appointment of a resident secretary.
- The register of beneficiaries is closed, data on real owners is not publicly available.
- Available information - about the name, legal address, amount of authorized capital, director, shareholder, secretary.
- Substance requirements - physical presence is only required to open a local bank account. Most often, a virtual office is enough.
- Legal address - on the territory of the peninsula.
All Singaporean companies are required to prepare and file annual financial statements. If there is no operational activity, zero reports are submitted.
An obligation to undergo an audit has also been introduced for medium and large companies. Small firms that meet any two of the criteria below are exempt from audit reporting:
- annual income less than 10 000 000 SGD;
- the value of assets is less than 10 000 000 SGD;
- working staff up to 50 people.
To keep registration data up-to-date, companies also annually update information about the director, secretary, shareholder, address by submitting a static report (Annual Return) to ACRA.
- 3 desired company names
- description of directions for future work
- national and international passport for the shareholder and director of the company (if a second non-resident director is planned)
- confirmation of registration address: may be a bank statement or utility bill (gas, electricity, water) - no older than 3 months and in English
- CV for the shareholder and director