38 WANG CHIU ROAD, ENTERPRISE SQUARE FIVE, KOWLOON, HONG KONG
HK: +852 5808 0538 - UK: +44 29 21680168 - USA: +1 646 810 8741
SINGAPORE
SINGAPORE INCORPORATION
A Singapore company is considered very reputable jurisdiction.
It is suitable for all forms of trading business.
The two most common reasons why we recommend Singapore are: territorial taxation & ease of doing business.
The maximum corporate tax rate is 17%, but there are various exemptions and allowances, particularly in the first three years of operation.
Singapore is considered a reputable jurisdiction. Singapore consistently ranks at or near the top of the World Bank’s ‘Ease of Doing Business’ index.
Company incorporation is done online and therefore very fast.
Why is Singapore a successful business centre?
Singapore places no restrictions on a nationality of directors or shareholders and no visit is required to Singapore to establish your company.
4 Best Uses for a Singapore Company
- General trading - e.g. buying from Malaysia selling to Canada = 0 tax
- e-commerce business - Singapore has fast & efficient communications
- Coaching/mentoring services & other freelancers - work from anywhere
- Software development - Singapore has a wealth of skilled professionals.
KNOWLEGE BASE
Singapore Tax System
The maximum corporate tax rate is 17%, but there are various exemptions and allowances, particularly in the first three years of operation. After 3 years the concessions are reduced but not eliminated – taxable income up to 10K is taxed at 4.25%, from 10,001 – 200,000 at 8.5% and from $200,001 up to $2m 17%.
All Singapore companies must submit accounts annually to the Singapore Inland Revenue and the company registry. Companies with a turnover over S$5 million also require an audit.
Director & secretary requirements
A Singapore company may have a sole director, and at least one director must be resident in Singapore. Our fees include the services of a local director.
Shareholder requirements
It is also possible to have a single shareholder. The minimum issued capital for a Singapore company can be one share of S$ 1.
Secretary and Registered Office
Every company must appoint a secretary residing in Singapore. Every Singaporean company must have a registered office in Singapore.
Annual Returns / GST
The annual return, submitted to the Registrar of Companies, contains details of the shareholders and directors of the company and is available for public inspection. GST. The VAT system in Singapore is known as GST. It, however, does not apply to transactions conducted outside Singapore.
Public records
Singapore maintains a public registry from which one can obtain details of the company’s officers.