- Singapore has a network of over 50 comprehensive Double Taxation Avoidance Agreements.
- Singapore has many free trade agreements and the Investment Guarantee Agreements.
- Singapore’s strict enforcement of its strong intellectual property laws protects your ideas and innovations.
The above are some of the reasons why Singapore is the most competitive Asian country and the world’s easiest place to do business.
Before looking at the requirements of incorporating a new company, here’s a Singapore company registration service fee table with the fees that you can expect when you incorporate with VentureHaven Singapore.
And you can save time and effort by first understanding the basic registration requirements of registering a new business in Singapore:
Your proposed name for your new company must be approved by ACRA before can you start the official registration procedure. Proposed Business Names ACRA will refuse to register include:
- Names that are considered obscene or religious in nature
- Names that are already approved and reserved
- Names that are identical to other registered business names
- Names that are prohibited by order of the Minister for Finance
An approved company name will be reserved for 120 days from the approval date. No further extension of name reservation period is allowed. Once a name has been approved by ACRA, procedures to register new company in Singapore can be followed up.
At least one Resident Director in Singapore is required. This person can be a citizen, permanent resident, or someone with a valid employment pass or dependent pass. A director is also someone who is above 18 years of age without a criminal or bankruptcy record. Directors need not be shareholders.
Between one and 50 shareholders is the requirement for a Private Limited Company. Shareholders can be individuals or entities, local or foreign. 100% foreign ownership is allowed.
A qualified company secretary, a natural person residing in Singapore, must be appointed within 6 months of incorporation. A sole director or shareholder cannot act as the company secretary. Duties of a company secretary include:
- Corporate Statutory filing
- Maintenance of Minutes (AGM)
- Preparation of AGMs and Board Meetings
- Advising on legal and compliance frameworks
Minimum of S$1 is the required paid up capital for registering a Pte Ltd company in Singapore. The amount can be increased any time after successful incorporation. Singapore companies do not use authorised capital, but ordinary shares, preference shares or other shares.
An official local business address — residential or commercial, but not a post office box — is a requirement for your registered business entity.
And last but not least,
Singapore’s corporate tax caps at 17%, but for the first S$300,000 of annual profits it caps at 8.5%. Singapore does not collect dividend or capital gains taxes.
Contact VentureHaven Singapore today to find out more about Singapore company registration service fee charges.