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.
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: