Singapore company incorporation guide


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Singapore company incorporation guide

  1. 1. Singapore CompanyIncorporation Guide
  2. 2. OVERVIEW A foreign company or entrepreneur may find challenges in naviga ngSingapore is the #1 place to do businessin the world. the incorpora on process in Singapore. This guide is designed toAsiaBiz provides professional servicesto assist you through the process. illustrate op ons for a company or anyone interested in se ng up a business in Singapore. Singapore is consistently ranked as Number 1 place to do business in the world. With the economic boom of Asia, Singapore has become the ideal springboard to many of the markets in the Asia Pacific region. AsiaBiz provides professional incorpora on, accoun ng, tax, immigra on and all other corporate related services in Singapore. We are here to assist you through the incorpora on process and to help you succeed in your business venture. Our goal is to make the process as seamless as possible, and affordable too. The following business guide is for your general informa on only. We look forward to being of service to you in your new venture or ongoing business in Singapore. Copyright © 2011 AsiaBiz Services Pte Ltd
  3. 3. CHOOSING A BUSINESS NAMEChoosing a business name is the first important step in the se ng Your business name must be approved by ACRA. This process usually takes lessup of a business. Most businesses choose names that iden fy the than an hour.products or services they offer. An important thing to note whenchoosing an appropriate name for your business is that ACRA mustfirst approve the name you have chosen. The approval process usuallytakes less than an hour, and the approved name can be reserved for60 days from the date of applica on.To ensure a quick and hassle-free name approval, make sure yourcompany name meets the following condi ons:• Not iden cal or too similar to any exis ng local company names• Does not infringe on any trademarks• Not obscene or vulgar• Not already reserved Copyright © 2011 AsiaBiz Services Pte Ltd
  4. 4. CHOOSE A TYPE OF BUSINESS STRUCTURE Choosing the right business structure is essen al in your development and the eventual success of your company. AsiaBiz is the business incorpora on expert and aims to help business owners choose the best op on for their business. This serves as a general informa on guide. For more informa on, please speak to our incorpora on experts or your a orney. Copyright © 2011 AsiaBiz Services Pte Ltd
  5. 5. TYPES OF BUSINESS STRUCTURESole Proprietorship Company• A sole proprietorship is the simplest but the • There are four types of companies in Singapore: riskiest type of business form in Singapore. Private Limited Company - Not more than 50• The sole proprietor must be a Singaporean/PR/ corporate or individual shareholders. EP Holder/DP Holder. If the owner is a foreigner Exempt Private Company - Not more than 20 residing overseas, he can appoint a local manager. individual shareholders.General Partnership Public Company Limited by Shares - It is locally• A partnership is a form of business owned incorporated where the number of shareholders by a minimum of two partners and a maximum can be more than 50. of 20. Public Company Limited by Guarantee - It is one• A partnership is not a legal en ty separate from that carries out non-profit making ac vi es that its owners/partners. Each partner is jointly and have some basis of na onal or public interest, severally liable for all debts of the partnership. such as for promo ng art, charity etc.• Like sole-proprietorship, a local manager must be • A company is a legal en ty, separate and dis nct appointed if none of the partners are Singapore from its owners/shareholders. It can incur residents. obliga ons and hold property in its own name. Consequently, it can sue and be sued in its ownLimited Liability Partnership name, it has perpetual existence and it can• The LLP is a limited liability company and has the contract with its controlling members. opera onal flexibility of a partnership.• It requires a minimum of two partners but there is no cap on the maximum number of partners allowed for an LLP. Partners can be individuals or companies.• Unlike partnership, an LLP is a legal en ty, separate and dis nct from its owners/partners.• It is compulsory for all LLPs to appoint at least one local manager. Copyright © 2011 AsiaBiz Services Pte Ltd
  6. 6. BUSINESS TYPE COMPARISON CHART Limited Private Sole General Liability Limited Proprietorship Partnership Partnership CompanyACRA filing(& filing fee)required forcrea onFull liabilityLimited liabilityprotec onPerpetualdura on of thebusiness100% foreignownershipStrictcompliancerequirementsFlexibility inwho managesthe businessProfits taxedat personalincome levelBusiness taxedat en ty levelTax incen vesand exemp onsEase of raising MaybecapitalEase of addingowners/transferring Maybeownershipinterest Copyright © 2011 AsiaBiz Services Pte Ltd
  7. 7. OPTIONS FOR FOREIGN INDIVIDUALS If you are a foreign individual interested in establishing your corporate presence in Singapore, you can choose one of the following op ons. As a foreign entrepreneur you can freely incorporate a private limited company in Singapore. 100% foreign ownership is allowed. Company Incorpora on with reloca on With Employment Pass: This is our most popular op on wherebyFor incorpora on with reloca on: - Employment Pass a foreign entrepreneur, professional, execu ve, director or - Entreprenuer Pass employee plans to relocate to Singapore to work in or run aFor incorpora on without reloca on: - Nominee Director business opera on from Singapore. You will need to accomplish the following, incorporate the Singapore Company and obtain work pass visa, commonly known as Singapore Employment Pass. With EntrePass: The EntrePass is designed to facilitate the entry and stay of entrepreneurs who are ready to start a new business and be ac vely involved in the opera ons of the company in Singapore. EntrePass is primarily meant for entrepreneurs that do not have a degree or specialised skills in the relevant field, but have a proven track record of successful business ventures or unique business ideas with poten al economic development. Company Incorpora on without Reloca on If reloca on is not a possible op on, AsiaBiz provides a Nominee Director Service for your company. Our service will help you meet the statutory requirement of the appointment of at least one individual director who has to be a local resident in Singapore. Copyright © 2011 AsiaBiz Services Pte Ltd
  8. 8. OPTIONS FOR FOREIGN COMPANIESSubsidiary Company Features of Singapore Branch OfficeA subsidiary company is a private limited company • The name must match that of the parent company.incorporated in Singapore with the parent company as its • It is required to submit its own audited financials accounts,shareholder. as well as those of its head office. • From a taxa on point of view, a branch office is generallyFeatures of a Subsidiary considered a non-resident en ty and although it is en tled to enjoy the par al tax exemp ons, it is not eligible for• A Singapore subsidiary can be wholly owned by the foreign the various tax incen ves and rebates available to local company and is considered a separate legal en ty from the companies in Singapore. foreign company. • It does not have separate legal iden ty, and therefore the• For taxa on purposes, the subsidiary may be treated as foreign parent company is responsible for all its debts, a Singapore resident company and as such eligible for tax losses and liabili es. exemp ons and incen ves available to local companies.• A subsidiary company, with at least one individual Setup Requirements for Branch Office shareholder with minimum of 10 percent shareholding, is en tled to new start up tax incen ves - Zero tax on the • 2 Resident Agents first S$100,000 of chargeable income for the first three • A Singapore registered office address consecu ve years. A further 50% exemp on is given on the next S$200,000 of the chargeable income. Foreign companies that plan to relocate any of the staff members (agent) from head office to Singapore can applySetup Requirements for Singapore Subsidiary for their employment pass a er the Branch office company registra on. Alterna vely, you can engage our Nominee• Minimum 1 Shareholder + 1 Resident Director + 1 Agent Service to represent your Branch Office. Company Secretary• Minimum ini al paid-up capital is S$1 Representa ve Office• A Singapore registered office address A Representa ve Office provides a foreign company interestedThe Companies Act requires the appointment of at least one in establishing opera ons in Singapore an avenue to assessdirector who must be a Singaporean/PR/EP Holder/DP Holder. business opportuni es in Singapore market prior to makingAlterna vely, you can engage our Nominee Agent Service to any long term or large scale commitment. A Representa vecomply the local director statutory requirements. Office cannot engage in commercial revenue-genera ng ac vi es.Foreign companies that plan to relocate any of the staffmembers from head office to Singapore can apply for their Setup Requirements for Representa ve Officeemployment passes a er the subsidiary company registra on. • 1 Chief Representa ve OfficerBranch Office • A Singapore registered office addressA Branch Office in Singapore func ons as an extension of a You can apply for an Employment Pass for the chiefforeign company that is registered outside of Singapore. representa ve officer only a er you have succeeded in registering the Representa ve Office. Copyright © 2011 AsiaBiz Services Pte Ltd
  9. 9. COMPARISON TABLE FOREIGN COMPANIES Subsidiary Company Representa ve Office Branch OfficeEn ty Name Need not be the same as parent Must be the same as parent Must be the same as the parent company company companyAc vi es Allowed Can conduct all business ac vi es Can only conduct market Must be the same as the parent research or coordina ng ac vi es companySuitable For For local or Foreign Companies For Foreign Companies who wish For Foreign Companies who wish who wish to expand their to set up temporary vehicle in to expand their opera ons in opera ons in Singapore Singapore to conduct research Singapore and act as liaison officeDisadvantages Con nuing Compliance It is a temporary vehicle and Con nuing Compliance Obliga ons eg Financial Reports, cannot generate revenue Obliga ons eg Financial Reports, Audit, AGMS, etc Audit etcOwnership Can be 100% foreign or locally No Ownership Owned 100% by the head office ownedSeparate Legal En ty Yes No NoCap on Number of Members Yes, max 50 Not Applicable Not ApplicableMinimum Se ng up Min One shareholder, which Must appoint a Chief Must have two SingaporeRequirement can be an Individual or Representa ve who will relocate Resident Agents corporate, (100% local or foreign from headquarters shareholding allowed. Must have at least one resident directorLimited Liability Yes No NoNeed for Audited Accounts Yes No YesFiling of Accounts with ACRA and Yes No YesIRASAnnual Filing Must file audit report subsidiary Not Applicable Must file branch office’s as well as parent company’s audit reportsTax Treatment Taxed as Singapore resident Not Applicable Taxed as non-resident en ty, local en ty, local tax benefits available tax benefits not availableTax Benefits A subsidiary company, with at No Corporate tax. Employees Par al tax exemp on least one individual shareholder have to pay personal tax with minimum of 10 percent shareholding, is en tled to local tax incen ves and rebatesCessa on of Business upon No. Equity shares go on in Not Applicable NoDeath of a Member/Partner perpetuityValidity Period Perpetually un l deregistered This is a temporary Setup. It is Perpetually un l deregistered intended not to last more than 3 yearsNormal Registra on Time 3 hours 3-5 days 3 hoursAppointment of Officers Must appoint at least one local Must appoint a Chief Must appoint two resident agents resident director Representa ve who will relocate from headquartersGoverning Body ACRA & IRAS Interna onal Enterprise Singapore ACRA & IRAS Copyright © 2011 AsiaBiz Services Pte Ltd
  10. 10. HOW TO INCORPORATE A COMPANY IN SINGAPOREMost companies that are incorporated in Singapore are private limited liabilitycompanies. To form a private limited liability company, incorpora on paperworkmust be filed with Singapore Accoun ng and Corporate Regulatory Authority,commonly known as ACRA. This sec on outlines the procedure and meline requiredto successfully complete a company registra on with ACRA. Copyright © 2011 AsiaBiz Services Pte Ltd
  11. 11. UNDERSTANDING THE REQUIREMENTSSTEP 1: FOR INCORPORATION OF A PRIVATE LIMITED COMPANY IN SINGAPORE A MINIMUM OF ONE RESIDENT DIRECTOR A resident director must be a Singaporean Ci zen, a Singaporean Permanent Resident, or an Employment Pass holder. A MINIMUM OF ONE SHAREHOLDER A minimum of one shareholder is required, and a maximum of 50 allowed. A shareholder can be a local resident, a foreigner individual, or a corporate body. A shareholder can also act as a director. A COMPANY SECRETARY Appoint a natural person who is ordinarily resident in Singapore as company secretary. MINIMUM PAID UP CAPITAL OF S$1 ACRA requires only a minimum paid-up capital of S$1 to register a company. Addi onal capital can be added a er the company is set up. A LOCAL REGISTERED OFFICE ADDRESS A registered corporate address in Singapore is required. A PO Box address is not allowed. Copyright © 2011 AsiaBiz Services Pte Ltd
  12. 12. STEP 2: GATHERING OF DOCUMENTS AND REQUIRED INFORMATION To file for incorpora on with ACRA, the following informa on and documents are required: • Company Name • Brief Descrip on of Business Ac vi es • Shareholders Par culars • Directors Par culars • Registered Address of the Singapore company Required Iden ty Documents Singapore Ci zen Non-Resident Corporate Shareholders Singapore Iden ty Card Passport Bio Page Cer ficate of Incorpora on Company profile including list Overseas Residen al Address of directors’ detailsIf you are overseas, you can E-mail us the scan copies of the official documents. Upon receiving therequired documents and payment we will prepare the incorpora on documents to be duly signed eitherin Singapore before us or overseas before Notary Public or Singapore Embassy.All official documents must be in English or officially translated in English; if you have trouble ge ng thenon English documents translated, we can assist you to do the same for a fee. Copyright © 2011 AsiaBiz Services Pte Ltd
  13. 13. STEP 3: SUBMISSION PROCEDURE AND TIMEFRAMESIncorpora on of a company Name Approvalthrough ACRA is a two-step processthrough an automated system. The first step requires the submission of the company name to ACRA for approval. It is, therefore, highly advisable to begin the name check process as soon as you have a desired company name. The approval process can be as fast as within an hour. Submission of Incorpora on Documents Once ACRA approves the company name, incorpora on documents may be filed immediately. With all appropriate documents in place, ACRA can approve an incorpora on of a company within a few hours. The confirma on, together with the company registra on number, is sent via an email no fica on. Copyright © 2011 AsiaBiz Services Pte Ltd
  14. 14. OPENING OF A CORPORATE BANK ACCOUNTOnce you have received incorpora on confirma on from ACRA, opening a corporate bank account is thenext important step in comple ng the incorpora on process. When you set up your company throughAsiaBiz, we also help you with bank account opening paperwork at our office. In just a couple of hours, youwill have your new company and corporate bank account ready for opera ons! To open a bank account you will need the following documents: • Complete and signed Corporate Account Opening Forms • Board of Directors Resolu on sanc oning the opening of the account and the signatories to the account (most of the banks have their own format and you just need to sign it) • Cer fied Copy of Cer ficate of Incorpora on • Cer fied Copy of Company’s Business Profile from ACRA • Cer fied Copy of Company’s Memorandum and Ar cles of Associa on (MAA) • Cer fied Copies of Passport (or Singapore IC) • Proof of residen al addresses of Directors, Signatories, and Ul mate Beneficiary Owners. Copyright © 2011 AsiaBiz Services Pte Ltd
  15. 15. BUSINESS COMPLIANCE MATTERSCompanies incorporated in Singapore are mandated to fulfill the responsibility of maintaining compliancewith various government agencies.Company Registra on Number Registra on of GST: Currently only suppliers ofAll registered companies in Singapore are required goods and/or services, whose annual revenueto have a registra on number called the Unique exceeds or likely to exceed S$1 million, are requiredEn ty Number (UEN) on all business le ers, to register with the Comptroller of GST. Suppliers,statements of account, invoices, official no ces, whose revenue does not exceed S$1 million, canpublica ons, etc. voluntarily register with the Comptroller if it is beneficial to the businesses. The approval of suchRegistered Business Address registra on is at the discre on of the Comptroller.A registered local business address is required, Once voluntarily registered, the suppliers mustand the office must be opened to the public for comply with the regulatory requirements andminimum of three hours per day during normal stay registered for a minimum of 2 hours on weekdays. Permits and LicensesCentral Provident Fund Depending on the type of business you would likeEmployers must contribute to the Central to set up in Singapore, it is some mes necessary toProvident Fund (CPF) for employees who are obtain a license and/or permit when you registerSingaporean and permanent residents. CPF is a your business with ACRA. ACRA’s automatedcompulsory pension fund scheme in which the system will indicate if another approving authorityemployer and employee contribute a percentage is required to grant a license or permit during theof the monthly salary to the fund. applica on for name approval. Most businesses do not require licenses or permits to operate.Goods and Service Tax There are a small handful that are required to doGoods and Service Tax (GST) is consump on tax on so, and some of these are private schools, travelmost domes c goods and services in Singapore. agencies, liquor distributors, moneylenders,The current rate is 7%. banks, childcare centres, importers/exporters, wholesalers and retailers of liquors. Copyright © 2011 AsiaBiz Services Pte Ltd
  16. 16. ACCOUNTING AND CORPORATEREGULATORY AUTHORITY ACRA Annual General Mee ng (AGM) Every Company must hold its AGM every calendar year and its financial statements are to be tabled at the AGM for the shareholders’ approval. Singapore Companies Act (Cap.50) states that every company is required to hold the AGM; • once in every calendar year • 15 months from the date of the last AGM, whichever is earliest EXCEPTION: Newly incorporated companies are allowed to hold the first AGM within 18 months from the date of incorpora on. An AGM can be can be physically held anywhere in the world, whereby the shareholders meet, or by way of wri en resolu ons, whereby a mee ng is not required. Annual Returns Every company must file an Annual Return (AR), which consists of per nent informa on of the company and its financial accounts reports within one month of its Annual General Mee ng (AGM). Copyright © 2011 AsiaBiz Services Pte Ltd
  17. 17. INLAND REVENUE AUTHORITYOF SINGAPORE IRASEs mated Chargeable Income: statements; suppor ng notes and disclosure ofEs mated Chargeable Income (ECI) is an es mate significant accoun ng policies applied by theof a company’s chargeable income for a Year of company; disclosure of company’s opera ons; andAssessment (YA). IRAS requires each company to shareholders and directors’ interests.submit an ECI for the Year of Assessment within Unaudited Report: A company is not required tothree months a er the financial year ends. It is prepare an audited report if the sales turnover formandatory to file an ECI regardless of the amount the financial year does not exceed the $5 million;of income. A company with a zero income will file it has not more than 20 shareholders and does nota ‘NIL’ ECI. have a corporate shareholder.Accoun ng Records: Audited Reports: A Company must audit itsAll Singapore Company must prepare the accounts accounts, if the Company has a corporatewhich must consist of Profit and Loss Account, shareholder and or the, sales turnover exceed S$5Balance Sheet, Cash Flow Statement, and Equity million and has more than 20 shareholders.Statement in accordance with the SingaporeFinancial repor ng standard (SFRS). The accoun ng Filing of Financial Statements in XBRL: Companiesrecords must be kept for 5 years. is required to file their financial statements in XBRL format during the filing of Annual return, if yourTax Return Filing: company is insolvent (Total Assets – Total Liabili esThe filing deadline for corporate income tax return = Nega ve Value) and has a corporate shareholderis 30 November. Documents to be submi ed are for the financial year.audited or unaudited Report and tax computa on(Form C).Financial Report:Every company is required to submit a FinancialReport – audited or unaudited, depending on thetype of company. The report consists of financialstatements such as balance sheet and income Copyright © 2011 AsiaBiz Services Pte Ltd
  18. 18. CORPORATE TAX Corporate Tax: 0 - 17% max Tax System: Single- er corporate income tax system Taxa on on dividends: NONE Capital gain tax: NONE New Startup Companies* For First 3 Years of Assessment * Qualifying condi ons: • No more than 20 individual 8.50% 17.00% shareholders throughout basis period for that YA • All of whom are individualsTaxable income beneficially and directly holding NO TAX the shares in their names; OR • Where there are non-individual First S$100,000 S$100,001 - S$300,000 Above S$ 300,000 shareholders, at least 1 shareholder is an individual holding at least 10% of the shares. Chargeable Income Exemp on Effec ve Tax Rate • Companies that do not meet the qualifying condi ons would First $100,000 @ 100% 0 s ll be eligible for par al tax exemp on Next $200,000 @ 50% 8.50% Next $194,000 Nil 17.00% Copyright © 2011 AsiaBiz Services Pte Ltd
  19. 19. EMPLOYMENT/WORK VISASingapore welcomes foreign talents in order to sustain a vibrant and dynamic talent pool Singapore followsa rela vely liberal immigra on policy to a ract and retain foreigners who fall under various categories suchas Qualified and skilled professionals, entrepreneurs, meritorious professionals etc. Foreigners can applyfor work passes which are available under the following work pass schemes.Singapore Employment Pass Scheme Entrepreneur Pass (commonly known as EntrePass)The Employment Pass (EP) is a type of work pass Entrepreneur Pass (EntrePass) is an employmentthat is granted to foreign professionals with suitable pass, granted to foreigners based on thequalifica ons and experience. Company owners feasibility and growth prospects of the applicants’and execu ves with substan al qualifica ons business. This pass especially encouragesare eligible to apply. The applica on for EP must foreign entrepreneurs who lack formalbe submi ed via the company that is hiring the educa onal qualifica on but exhibit outstandingforeigner. The EP is based on the applicant’s own entrepreneurial traits via track record.merit and does not fall under the quota system. Note: EntrePass has minimum paid up capital and renewal requirements than Employment Pass. Copyright © 2011 AsiaBiz Services Pte Ltd
  20. 20. COMPARISON EP VS ENTREPASSThis guide provides a side-by-side comparison of the two passes so you can explore which pass might be er suityour unique circumstances. Please note that this is a general guide only. Singapore manpower authori es revieweach applica on based on its own merits. We will be able to advice you further once our services are engaged. Employment Pass (EP) Entrepreneur Pass (EntrePass)Who is it for? Professionals, managerial personnel (managing director, The Singapore Entrepreneur Pass, widely known as CEO), execu ves or specialists who wish to work in EntrePass, is suitable for foreign entrepreneurs seeking Singapore can apply for an Employment Pass. to set up a business in Singapore.Eligibility Criteria To be considered for an Employment Pass, a foreigner Proposed business idea, hiring locals, investment must have a fixed monthly salary of at least S$2,800, and amount, applicant’s relevant background and total possess acceptable degrees, professional qualifica ons or business spending. specialist skills. • You can incorporate a new company upon your EntrePass approval: or Singapore Employment Passes are carefully assessed by • Company must not have been registered for more the Ministry of Manpower by taking into considera on a than six months at the point of applica on; number of factors such as the applicant’s qualifica ons, work experience, job profile, economic contribu on, • Applicant to own a minimum of 30% of the employer’s track record and the quality of the applicant to shareholding in the company; complement and supplement Singapore local workforce. • Company to have at least $50,000 paid-up-capital; • Submit a 10-page business plan detailing business Applicant Company goals and objec ves.* • Relevant work • Paid-up capital experience • Opera ng history * Business plan must demonstrate the viability in • Proposed salary • Employer track execu ng the Total Business Spending (TBS) and hiring • Age record of Singaporeans within a one-year period. • Posi on • Number of local • Special skill set employees Number of Pass Type TBS (S$) Singaporeans Government P1 8 300,000 • Industry economic contribu on • Skill in demand P2 4 150,000 • Complement and value add to work force Q1 2 100,000Pass Type & P1: Fixed monthly salary > $8,000 P1: Fixed monthly salary > $8,000Eligibility Possesses recognized qualifica ons P2: Fixed monthly salary > $4,000 P2: Fixed monthly salary > $4,000 Possesses recognized qualifica ons Q1: Fixed monthly salary > $2,800 Q1: Fixed monthly salary > $2,800 Possesses recognized qualifica ons; or Specialized skills and a minimum of 5 years of work experience may compensate for the lack of recognized qualifica ons.Company Paid-up S$1.00 (Higher paid-up is one of the reviewing factors S$50,000Capital considered by MOM.)MOM Processing 1 day – 8 weeks 3 weeks – 3 monthsTimeVisa Validity 1 – 2 years 1 – 2 yearsRenewal Renewable as long as you con nue to be employed by Renewal of EntrePass is con ngent on achieving goals the company and objec ves outlined in the business planDependent Pass Will be granted to immediate family members Will be granted to immediate family membersPermanent Resi- Eligible to apply for Singapore Permanent Residence a er Eligible to apply for Singapore Permanent Residence a erdence (PR) 12 months 12 monthsWhen can it be Employment pass can be applied any me a er Entrepreneur Pass can be applied either before companyapplied? incorpora on of the company. incorpora on or within six months of the incorpora on. Copyright © 2011 AsiaBiz Services Pte Ltd
  21. 21. OPTIONAL VIRTUAL OFFICE SERVICESPres gious Office Address, Telephone Answering, Mail Only Business PremiumFax to Email ServicesRegistered AddressWe provide a pres gious address, which can be used asregistered business address for the registra on of your company.The address can be used on business cards, le erheads or anyother official documents.Mail No fica onWhenever the mail arrives, we provide an email no fica onsta ng details such as date, sender, type of mail, etc.Mail ForwardingIncoming mail (including courier items and small parcels) willbe forwarded based on your instruc on. All forwarding postagecosts will be charged accordingly to you.* This service will require a S$100 deposit and will be used to offset the mail forwarding charges.Dedicated Phone LineA dedicated local telephone number will be assigned to you. Automated PersonalisedProfessionally trained staff will personally a end to your Gree ng Gree ngcalls using your business name. This number may also be Service Serviceautoma cally diverted to another telephone number specifiedby you. Do not miss any more calls!Dedicated Fax to EmailWe’ll assign a dedicated fax number to you. Faxes received willbe forwarded to your email ID so that you can access them fromanywhere.MONTHLY FEE (US$) 50 200 250 Copyright © 2011 AsiaBiz Services Pte Ltd
  22. 22. SINGAPORE FACTS & FIGURES Currency Corporate Tax SINGAPORE 17% DOLLAR Dividend tax Popula on None 5,076,000 Capital Gains Tax GDP per capita None 59,813 Estate Duty Annual infla on rate None 2.8% Foreign-sourced Unemployment rate Income 2.2% Tax-exempt Literacy rate 95.9%RANKINGS#1 on the ‘World’s Easiest Place to Do Business’ list; World Bank’s #1 in Asia and Number 5 in the world for having the least #1 by foreign talent rank Singapore as Asia’s best country to work in Doing Business Report, 2010 corrup on in its economy#2 as ‘World’s Second Freest Economy’ - Index of Economic #2 worldwide as the city with the best investment poten al for 16 Freedom, 2010 consecu ve years Copyright © 2011 AsiaBiz Services Pte Ltd
  23. 23. AsiaBiz Services Pte Ltd 120 Telok Ayer Street, Singapore 068589 Main Line : (+65) 6303 4614 Fax : (+65) 6303 2670 Email : Website : This material has been prepared by AsiaBiz for the exclusive use of the party to whom AsiaBiz delivers this material. This material is for informa onal purposes only and has no regard to the specific investment objec ves, financial situa on or par cular needs of any specific recipient. Where the source of informa on is obtained from third par es, AsiaBiz is not responsible for and does not accept any liability over the content.Company Registra on | Immigra on | Accoun ng | Taxa on | Offshore Copyright © 2011 AsiaBiz Services Pte Ltd