Setup a Company in Singapore.
Why Set Up a Company in Singapore?
Singapore has become one of the most wanted destinations for entrepreneurs globally. With its state of the art infrastructure and business friendly policies, it’s the best platform for start-ups, small and medium enterprises and much larger corporations. Here’s why:
Ease of Doing Business
Ranked among the world’s top countries for registering a business, with streamlined processes and digital filings.
100% Foreign Ownership
Foreign entrepreneurs can incorporate a company in Singapore and keep all ownership rights without local partnership.
Low Corporate Tax (17%)
The low taxes and the various exemptions and rebates available to Singapore registered businesses makes effective corporate taxation much lower in Singapore.
Strategic Location in Asia
At the very center of South East Asia, Singapore offers unparalleled access to some of the most important global business markets and opportunities.
Strong Legal and Financial Infrastructure
Transparent regulations, robust IP, and a stable financial system and legal system build investor confidence.
Skilled, Multilingual Workforce
Rich in technology, finance, trade, and innovation, Singapore has statutory backed workforce localization and offers the world a diverse pool of talent.
Favorable Policies & Government Support Schemes
The conducive legislation, tax benefits, and support initiatives for startups promote inventive processes and expansion.
Need Help Choosing the Perfect Business Structure?
Types of Business Entities in Singapore
Choose the Right Business Structure
Opting for the ideal business organization in Singapore is very important. The types include:
Private Limited Company Singapore
Most common structure for national and international patrons, and it presents tax advantages and limited liability.
Sole Proprietorship
The small-scale business run alone has unlimited liability.
Partnerships
These can be General Partnership (GP), Limited Partnership (LP), and Limited Liability Partnership (LLP) with different liability.
Foreign Company Registration Singapore
International establishment can open a branch office, a subsidiary, or a representative office in Singapore.
Required Documents for Company Registration
For a company formation Singapore, the following is required.
- Passport or ID of all directors and shareholders.
- Proof of address be it a utility bill or bank statement, must include the expected place of residence.
- The proposed company name and a description of the business activity.
- The office address in Singapore.
- Office Constitution documents.
- Then locally, the nominee director of your choice.
Post-Incorporation Requirements
Even after incorporating a company in Singapore, you must ensure ongoing compliance in the following:
- File annual returns with ACRA- This is a mandatory requirement to obtain a good standing.
- Observe accounting and bookkeeping standards - Ensure accurate financial reporting.
- File your corporate tax with the Inland Revenue Authority of Singapore- a requirement for all corporate tax at the end of the business year.
- Appoint your company director within 6 months - This is a compliance to all Singapore companies.
- Register your business, if needed - If your business is in a registered domain, for such businesses, you would be required to obtain licenses.
Benefits of Starting A Business in Singapore
Key Advantages of Foreign company registration Singapore
Setting up a company in Singapore streamlines the incorporation process.
100% Foreign Ownership
As a business owner, you will have complete operational control and decision-making power.
Repatriation of Profits
You will have the ability to transmit your profit without any limitations.
No Capital Gains Tax
There are no taxes on capital gains or dividends in Singapore.
Improved Corporate Standing
Increases your business for banks and creditors.
Access to Double Taxation Agreements
Significantly reduces the taxes of international businesses. Singapore has over 80 tax treaties.
Need Help Choosing the Perfect Business Structure?
- Cost Estimation
What is the Cost for Company Registration in Singapore?
Curious to know the cost of business formation in Singapore? Try out our simple application and receive your unique estimate for company formation in Singapore in under sixty seconds. You can now determine your startup costs effortlessly, incorporating all government fees, documentation, professional services, compliance expenses, and others.
How to Incorporate Your Business in Singapore
Step by Step Process for Company Incorporation in Singapore
To make sure you register a business in Singapore, you should do the following:
The business organization type has to be selected, and then the name has to be approved by ACRA.
The legal constitution and incorporation documentation must be prepared.
All incorporation particulars must be submitted to Singapore's Accounting and Corporate Regulatory Authority.
Once approved, you will receive the official incorporation certificate.
Set up a company in Singapore by opening a business account to manage transactions.
Companies with annual turnover above SGD 1 million must register for Goods & Services Tax.
Under Singapore law, this is mandatory within six months of incorporation.
How Analytix Helps To Set Up a Company in Singapore
Singapore business environment is so vast that there are ample business opportunities in the country. And Analytix helps you make use of all those business opportunities in Singapore with their structured business incorporation services. We ensure compliance with ACRA and IRAS and guide clients on how to start a business in Singapore. Our comprehensive Singapore incorporation services includes entity selection, documentation, nominee director services, banking assistance, and post-incorporation compliance. You will be able to gain your foothold in Singapore’s competitive business environment with our local insight and global vision.
Take the First Step Towards Your Singapore Business Success
Turn your business idea into reality with Analytix’s expert-guided company incorporation services. We’ll ensure a smooth, compliant, and hassle-free setup.
- FAQs
Frequently Asked Questions
Here are the answers to the frequently asked questions about starting and running a business in Singapore:
Can foreigners incorporate a company in Singapore without a local partner?
Yes. Foreign entrepreneurs may establish a private limited company in Singapore and have total ownership without a local shareholder.
How long does the company registration process take?
Once all the required documents have been submitted to ACRA, the registration typically takes 1–2 business days.
What is the minimum capital required to set up a company in Singapore?
Considering the minimum paid-up capital is only SGD 1, it is rather reasonable for any entrepreneur.
Do I need to be physically present in Singapore to start a business?
No. You can incorporate a business remotely, as long as Analytix is in your corner. A local director, however, is required by law.
