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We set up your company in Singapore only 5 business days.
The company formation fee of S$315 to be paid to the government is included in the price.
Contact us to get information about Accounting and Tax Declaration services.
Singapore is located in the heart of Southeast Asia and one of the most important trading centers in the world is a country that is considered to be. Thanks to ease of starting a business, tax advantages and strategic location has become an attractive business center for both local and foreign investors. Company in Singapore one of the most important advantages of establishing is liberal policies that allow 100% foreign partnership. Oh, this, companies with full control of foreign investors without any local partner allows them to install.
There are many important factors that make Singapore attractive to investors. First of all, 100% any restrictions on liberal policies and capital movements that allow foreign partnership the absence brings great advantage for international investors. Low tax offered by the country rates, in particular 17% corporate tax rate and various tax incentives, enterprises it allows it to grow strongly financially. Also, Singapore’s 80 double tax prevention agreements signed with more countries, companies engaged in international trade offers significant advantages.
Private Limited Company is the most common and advantageous company in Singapore. Features:
It operates as an extension of foreign companies in Singapore:
Ideal for market research and preliminary assessment:
The company establishment process is very fast and thanks to Singapore’s advanced digital infrastructure efficient. Company incorporation transactions in Singapore can be done remotely, come to Singapore I don’t need to. However, some banks may request a personal call for the bank account opening. In this case You may need to visit Singapore. The process begins with the approval of the company name and all necessary documents are usually completed within 1-2 working days when ready. Basic documents required for the establishment between passport copies of directors and shareholders, residence documents, company anasification and there is a statute. In addition, the company has a physical address in Singapore and from the organization within 6 months from the date, a qualified company must appoint a secretary.
Singapore stands out as an attractive business center for foreign investors. Company installation process it is proceeding systematically and transparently. For foreign investors to establish a company must meet some basic requirements.
Required Documents:
One of the most important stages of the establishment of the company is the appointment of a local director. This director must There must be a resident in Singapore. This requirement is with one of the following persons can be met:
Local Director Options:
Each company must have a physical address in Singapore. This address is the official of the company will be used as the place where the correspondence will be made and the legal notices will be received. A simple mail box does not meet this requirement.
Address Requirements:
According to Singapore company law, each company must appoint a professional company secretary. This must the person be residing in Singapore and knowledge about corporate law.
Company Secretary Features:
Singapore has a very flexible approach to capital structure. Minimum capital the requirements are kept quite low, but higher capital may be required for some special occasions.
Capital Requirements:
After the establishment of the company, a bank account will need to be opened. Most local large banks, account for the opening request that the company officials be present physically. But some it is also possible to open an online account from banks.
For Bank Account Opening:
A professional service for foreign investors to establish a company in Singapore must work with the provider. These companies manage the entire organizational process and the necessary legal ensures the fulfillment of requirements.
Professional Company Support:
In addition to these basic requirements, additional licenses and permissions may be required according to the company’s field of activity. Each company must regularly submit its annual statements and keep its records up to date. This processes are the basis of Singapore’s transparent and regular business environment. ACRA (Accounting and Corporate Regulatory Authority) to be made and to be presented reports should be followed regularly. With serious sanctions if these processes are disrupted can be encountered.
In order to establish a company in Singapore, some mandatory services must be received. Basically the establishment of a company is mandatory for the establishment of a local director, company secretary and registered address services. This together with basic requirements, company in Singapore through a professional service provider the organization can be realized at an average cost of $4,000 to $5,000.
In addition to the cost of establishment, there are some mandatory services that must be renewed annually. Among these services, the company secretariat ($800-1.200), the registered address ($500-800) and the local director service ($2,000-3.500) is available. In this case, the annual fixed expenses of a company average $3.500 – It varies between $5,000.
The fees received by the official institutions are relatively low. Company Name Registration for SGD$15, company there are reasonable fees such as SGD$315 for registration and SGD$60 for annual reporting. Also the company Additional license fees may be required depending on the sector in which it operates.
Operational services such as accounting and auditing are optional, the size of the company and transactions varies according to the volume. Basic accounting services are between $800-1.500 per year when creating cost, this figure can increase for full-scale accounting and auditing services.
Additional services such as job visa applications, private licenses or advanced consulting services is charged. Therefore, the total cost according to the needs of the company and the field of activity may vary.
Investors who want to establish a company in Singapore are required to prepare some basic documents. These documents differ for real persons and corporate shareholders.
Documents Required for Individual Shareholders:
Additional Documents for Corporate Shareholders:
Other Mandatory Documents:
Note: All documents in foreign languages are required to be translated into English. Documents may be required to be apostille approved or consulate-approved.
Singapore has one of the most advanced tax systems in Southeast Asia. Transparent and predictable structure provides a great advantage for investors. Tax system, single stage 17% standard corporate tax rate is applied for companies. Especially newly established companies tax incentives and exemptions offered for it create attractive opportunities for entrepreneurs.
Basic Tax Types and Rates:
The tax year for companies is usually following the calendar year, and the annual tax of all companies there is a obligation to issue the declaration. Companies Estimate within three months from the end of the fiscal year Taxable Revenue (ECI) is obliged to make the notification. This process in terms of tax planning is critical.
Tax Declaration Processes:
In terms of accounting system, Singapore fully complies with international standards. All companies It is required to keep records in accordance with Singapore Financial Reporting Standards (SFRS). Accounting records should be kept in English and all procedures must be documented in accordance with the appropriate.
Compulsory Accounting Requirements:
In terms of auditing, Singapore offers some exemptions for small and medium-sized businesses. Companies that meet certain criteria may be exempted from auditing. This flexibility, especially new provides a significant cost advantage for established and small-scale companies.
Audit Exemption Criteria:
The Singapore tax system attaches great importance to digital transformation. Electronic declaration systems, digital modern applications such as billing and online payment options are widely used. This is, reduces the administrative burden of companies and increases efficiency.
Digital Tax Applications:
Each company receives professional accounting support so that each company can effectively manage these processes recommended. Correct tax planning and timely statements to avoid possible penalties is critical. Tax system and accounting of foreign investors, Singapore, in particular receiving professional support for their requirements, managing their businesses smoothly it is of great importance to the point.
Annual Financial Obligations:
This systematic approach has made Singapore one of the major financial centres of the region and has created a reliable business environment for foreign investors.
Singapore stands out with the various tax advantages and incentives it offers to investors. Especially tax exemptions and discounts offered for newly established companies, important opportunities for entrepreneurs creating.
Tax Incentives for New Companies:
General Tax Advantages:
Singapore’s single-stage tax system, the final tax on the profits of the company makes it happen. In this way, no tax is taken again on the dividends distributed to the shareholders. This feature, provides an important advantage for investors.
Private Sector Incentives:
Advantages for Foreign Income:
Thanks to these tax advantages, Singapore is particularly attractive for companies that want to be a regional hub has become a location. Maximum benefit from these advantages with professional tax planning can be provided.
VAT (GST) Advantages:
Employment Incentives:
These tax advantages and incentives will provide maximum benefit with accurate planning and professional support can be used in the form. The most appropriate tax strategy of each company according to its own field and structure it’s important to determine.
For more information about Singapore, you can read our blog posts.