Singapore grants tax exemption for the first $100,000 profits for new companies. This benefit continues for up to three years and the corporate tax is low at 8.5% tax for up to $300,000 profits.
Before a company can be incorporated in Singapore, its name must first be approved and reserved with, the Registry of Companies & Businesses, the name is reserved for two months, during which the incorporation documents are required to be submitted and have the words 'Pte. Ltd.' or 'Ltd.' as part of its name.
A company can have one director who must be resident in Singapore - a Singapore Citizen, a Singapore Permanent Resident, a person who has been issued an Employment Pass.
A foreigner who wishes to act as a local director of a company can apply for an Employment Pass from the Employment Pass Department of the Ministry of Manpower.
A minimum of one resident director (defined as a singapore citizen, a permanent resident, or a person who has been issued an employment pass).
We can appoint a local resident director for your Singapore company:
The Singapore Companies Act requires all Singapore Private Limited companies to have at least one individual director who has to be an ordinary resident of Singapore: -
We require a security deposit when we provide our Resident Director service. The Security deposit is refundable upon termination of our Resident Director service
As per section 171 of the Singapore Companies Act, every company must appoint a qualified company secretary within 6 months of its incorporation and the secretary must be resident in Singapore. In the case of a sole director/shareholder, the same person cannot act as the company secretary.
Only one shareholder of any nationality is required for your Singapore Pte company. A director and shareholder can be the same person100% foreign shareholding is allowed.
Minimum paid-up share capital for registration of a Singapore company is only S$1 and the share capital can be increased any time after incorporation.
In order to register a Singapore company, you must provide a local Singapore address as the registered address of the company.
To incorporate your private limited company in Singapore we require the following: