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Singapore Company Registration Guide.pdf
- 3. for setting up a company in Singapore Qualifying newly incorporated companies can enjoy up to 75% exemption on the first $100,000 of normal chargeable income and a further 50% exemption on the next $100,000 of normal chargeable income for the first three YA. TAX BENEFITS A Singapore company can be incorporated within 1 business day, and you may commence operations immediately. EASY INCORPORATION Singapore follows a territorial basis of taxation; taxes only apply to income gained or sourced from and received in Singapore. REPUTABLE OFFSHORE JURISDICTION BENEFITS
- 4. for Setting up A Company in Singapore A Singapore company is exempted from having its accounts audited if it is an exempt private company with annual revenue less than SGD 10 million. AUDIT EXEMPTION The Singapore government is known for its transparent, corrupt-free, and pro-business government, with a just and reliable legal system. POLITICAL STABILITY Singapore is also one of the top fintech hubs in the world, with the Singapore government actively implementing policies to promote new initiatives in the sector. LEADING FINTECH HUB BENEFITS
- 5. Foreigners can also be appointed as the director of the Singapore company and are entitled to apply for an investor visa or employment visa and relocate to Singapore. 100% FOREIGN OWNERSHIP Foreigners can be the sole shareholder of a Singapore Company. There are no foreign ownership restrictions.
- 7. COMPANY STRUCTURES IN SINGAPORE Sole Proprietorship Partnership Limited Liability Company Branch Office Representative Office
- 8. FOREIGNER-FRIENDLY COMPANY STRUCTURE Private Limited Company (Pte Ltd)
- 9. Private Limited Company (Pte Ltd) Definitions Mandatory Requirements Share Capital A Private Company Limited by Shares (or just a Private Limited Company) is a classic form of legal entity that is separate and distinct from its shareholders and directors. • Registered Office • Company Secretary • At least one local resident director Singapore company can be incorporated with US$1 share capital.
- 10. Independent Legal Entity Granted a separate judicial rights and obligation for its owners and shareholders. Limited liability Liability for the shareholder is limited to the amount of investment they made in the company. Flexibility Consists of flexibility that can satisfy various business entities' relevant activities in Singapore. For example, it can hold assets, manage real estate investment, and debt handling. Maximum 50 Shareholder The company's minimum shareholder is 1, and can be of any nationality either an individual, corporate, or both. PRIVATE LIMITED COMPANY (PTE LTD)
- 11. FACTS ON PRIVATE LIMITED COMPANY (PTE LTD) If the number of shareholders is less than 20 and they are all individuals, the company will be treated as an Exempt Private Limited Company (or EPC for short). If you are planning to incorporate a Private Limited Company in Singapore, your company will automatically be classified specifically as below: If a corporate entity owns more than 50% of the company shares, the Private Limited Company will be treated as a Subsidiary Company. In all other cases, the company will be treated as a Private Limited Company (as long as the number of shareholders is less than 50).
- 12. CRITERIA PRIVATE LIMITED COMPANY EXEMPT PRIVATE COMPANY Number of Shareholder Maximum of 50 shareholders that are either an individual or corporations. Maximum of 20 shareholders, but a corporation is not allowed to be a shareholder. Legal Type Limited liability Special Features Allowed to sue or be sued and can own property in the company's name Have the same features as a Private Limited Company, but an EPC is exempted from attaching financial statements in the Annual Return. Liabilities Limited liability depending on subsidiary Allowed Activities No restrictions. Taxation System Singapore follows a territorial basis of taxation. In other words, companies and individuals are taxed mainly on Singapore sourced income. Foreign sourced income (branch profits, dividends, service income, etc.) will be taxed when it is remitted or deemed remitted into Singapore unless the income was already subjected to taxes in a jurisdiction with headline tax rates of at least 15%. TYPES OF ENTITY - COMPARISON
- 13. Your company in Singapore GUIDE TO SETUP
- 14. 01 Prepare PREPARE THE REQUIRED DOCUMENTS 02 Register REGISTER THE COMPANY AND SECURE A CORPORATE BANK ACCOUNT 03 Compliant ENSURE THE COMPANY TO REMAINS COMPLIANT WITH THE LAWS 3-Steps Guideline Here is the plan!
- 15. 1 DAY ONLY DURATION to set up a Private Limited Company (Pte Ltd) 1 Business Day after receiving all the mandatory documents required by the Singapore Government.
- 16. ABOUT US Consulting packages catered to your needs. Qualified team of Chartered Accountants and professionals. Consultants with in-depth Asia Pacific knowledge.
- 18. COMPANY REGISTRATION & LICENSE APPLICATION SERVICES CORPORATE BANK ACCOUNT OPENING BOOKKEEPING & PAYROLL SERVICES
- 19. BUSINESS ADVISORY SERVICES CORPORATE AND INDIVIDUAL TAXATION SERVICES CORPORATE SECRETARIAL SERVICES
- 20. OUR PARTNERS
- 21. CONTACT US REACH OUT TO OUR EXPERTS AT +65 8756 2027 enquiry@relinconsultants.com "WHEREVER AND WHENEVER, WE ARE AVAILABLE FOR YOU"