Company Formation in Singapore
Fast and efficient company registration services in Singapore. The perfect choice for ambitious entrepreneurs.
- Highly competitive economy
- Ease of doing business
- Business-friendly framework
- Flexible immigration laws
Consulting team dedicated into advising the best suitable jurisdiction for your project.
Corporate finance specialist and expert about FinTech regulations worldwide.
Packages - Company Formation in Singapore
Our packages for full incorporation services and corporate account opening in Singapore.
Consulting team dedicated into advising the best suitable jurisdiction for your project.
+44 20 4577 0974
Corporate finance specialist and expert about FinTech regulations worldwide.
+44 20 4577 0974
Request information on company formation in Singapore: cost, process and requirements.
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Initial consultation
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Turnkey Company Formation
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Company contact person
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Registered legal company address for 1 year
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Remote incorporation
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Notary Services
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Company Secretary
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Local personnel
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Accounting for 1 year
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Long-term POA
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Apostilled set of documents
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Additional legal support
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Corporate Account
Turnkey company formation, Everything you need to get off the ground. Start now!
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Initial consultation
-
Turnkey Company Formation
-
Company contact person
-
Registered legal company address for 1 year
-
Remote incorporation
-
Notary Services
-
Company Secretary
-
Local personnel
-
Accounting for 1 year
-
Long-term POA
-
Apostilled set of documents
-
Additional legal support
-
Corporate Account
Full turnkey company formation and support in all necessary aspects. Customized pricing!
-
Initial consultation
-
Turnkey Company Formation
-
Company contact person
-
Registered legal company address for 1 year
-
Remote incorporation
-
Notary Services
-
Company Secretary
-
Local personnel
-
Accounting for 1 year
-
Long-term POA
-
Apostilled set of documents
-
Additional legal support
-
Corporate Account
Promising projects and how LegalBison assisted
LegalBison helped us navigate a space that’s often uncertain and complex, which gave us the confidence to move forward with our project.
Best company for Crypto Licenses! Kudos to the team for making the incorporation of our company really smooth
We are happy to cooperate with LegalBison for more than 2 years and during this time they definitely secured a reputation of very professional and reliable partner. Great knowledge, competence and good attitude. Keep up the good work!
Incorporation Assistance in Singapore - Free Consultation
Easy incorporation of your Singaporean company with our legal and compliance assistance.
Get in touch now, describe your project and questions. An expert will answer them and provide you with guidance.
Getting started with company registration in Singapore
Find out all the necessary information about company formation in Singapore. Discover why Singapore is a popular jurisdiction and how it can help your business to reach another level. Additional information on demand, directly with our team of experienced consultants.
- Duration
- Timeline
- Remote incorporation
- Required Information
- VAT
- Documents
How long does it take to form a company in Singapore?
It would not be fair to set your expectations high and assume that the incorporation can finished within a day. The process starts from the moment we have all the needed documents. Get in touch with our consultants to understand what documents you need to begin the incorporation process.
The process takes 1-2 working days if done locally provided all requirements are complete. 3-5 days if done remotely (most cases). 1 week is a reasonable assumption.
Procedure to prepare the registration of a company in Singapore
The registration process of a company in Company Formation in Singapore with LegalBison is very simple. Contact us for more details and we will start out with a free consultation in which our lawyers will answer all your inquiries.
Can I form a company in Singapore remotely?
Remote registration is possible since Singapore recognizes electronic and digital signatures, and the registration is also done online. At the same time, there may be some activities that may require your physical presence post-registration.
Necessary information to begin with company formation in Singapore
- 3 options of your desired name for the company and a company contact email address;
- Names, addresses, and emails of all shareholders and board members;
- Short description of your company’s activity.
Without a VAT number in Singapore
Only companies that are GST-registered may impose GST and can naturally claim input tax.
Although voluntary registration for GST is allowed in Singapore, approval is not automatic as IRAS will still have to evaluate.
With a VAT number in Singapore
VAT or Goods and Services Tax (GST) as more popularly known in Singapore is imposed on almost all goods and services except those that are expressly excluded under the law. The GST is at a standard rate of 7%.
Any business or company with a taxable turnover that exceeds $1 million is required to register for the GST. For those who do not exceed this taxable turnover, voluntary registration is feasible after due and careful consideration by IRAS.
Required documents to provide to register a company in Singapore
- Passport copies (scans) of all individuals above and a beneficiary owner if applicable;
- A Power of Attorney (POA) from (all) partners/shareholders is needed (in case of a remote company registration);
- Certified company documents (in case at least one of the shareholders is going to be a foreign company).
Alternatives to company formation in Singapore
Our team has curated the following jurisdictions as being worthy alternatives to a company registered in Singapore:
Company Formation in Barbados
from 4.990 €-
Very low taxation
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Not a tax haven
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High discretion
Company Formation in Belize
from 960 €-
Fastest incorporation
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0% Taxes
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No reporting
Company Formation in Bosnia
from 2.500 €-
Attractive tax conditions
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Good for import/export
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Simple and quick set-up
Company Formation in Brunei
on request-
Offshore in Asia
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Advantageous taxation
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Tax exempt possibilities
Company Formation in Bulgaria
from 1.850 €-
Ideal EU jurisdiction
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5-10% tax
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Fast and cheap process
Company Formation in Bahamas
from 1.350 €-
Tax-free offshore
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No reporting obligations
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Discretion of owners
Things to know before registering your company in Singapore
Taxation of companies in Singapore
Corporate income tax is at a flat rate of 17%. Singapore also has a tax exemption for qualifying companies from 2020 onwards with:
- A 75% exemption on the first 10,000 SGD of normal chargeable income;
- A further 50% exemption on the next 190,000 SGD of normal chargeable income.
DTAA signed by Singapore for companies
Aiming to identify taxing rights and avoid double taxation, Singapore entered into various Double Taxation Agreements with the ensuing countries:
Albania, Australia, Austria, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Brunei, Bulgaria, Bermuda, Brazil, Cambodia, Canada, China, Cyprus, Czech Republic, Chile, Ecuador, Egypt, Estonia, Ethiopia, Fiji, Finland, France, Georgia, Germany. Ghana, Guernsey, Gabon, Germany, Greece, Hungary, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Indonesia, Japan, Jersey, Kazakhstan, Korea, Kuwait, Kenya, Laos, Latvia, Libya, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Mauritius, Mexico, Mongolia, Morocco, Myanmar, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Panama, Papua New Guinea, Philippines, Poland, Portugal, Qatar, Romania, Russian Federation, Rwanda, San Marino, Saudi Arabia, Seychelles, Slovak Republic, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Taiwan, Thailand, Tunisia, Turkey, Turkmenistan, Ukraine, United Arab Emirates, United Kingdom, Uruguay, Uzbekistan, and Vietnam.
Note: the DTA with Armenia, although signed, is not yet ratified.
Accounting and audit requirements for a company in Singapore
Every company is required to keep certain records such as, but not limited to, accounting records, registers, ledgers, and the like, and file its annual Income Tax Return with the IRAS. The Singapore Companies Act provided that all businesses or companies must have their respective financial statements and accounting records audited annually by an auditor unless it is among those exempted from audit. Filing of annual accounts must be made with the ACRA. For a business or company to be exempt, it must comply with at least two of the following conditions:
- The consolidated revenue must not exceed SGD 10 million;
- The consolidated total assets must not exceed SGD 10 million;
- The total number of employees in the group must not exceed 50 individuals.
Economic substance and residency requirements for companies in Singapore
- A company in Singapore may be owned 100% by a foreigner;
- There are not many restrictions, which is why Singapore is among the top countries with a high percentage of ease of doing business;
- The residency requirement mostly applies to the director and the corporate secretary.
LegalBison offers help with all of the above requirements. We assist and are local on the ground. Speak now for free with one of our consultants to get your business started.
- Taxes in Singapore
- Double Tax Treaties
- Accounting and audit requirements
- Residency requirements for company holders
Taxation of companies in Singapore
Corporate income tax is at a flat rate of 17%. Singapore also has a tax exemption for qualifying companies from 2020 onwards with:
- A 75% exemption on the first 10,000 SGD of normal chargeable income;
- A further 50% exemption on the next 190,000 SGD of normal chargeable income.
DTAA signed by Singapore for companies
Aiming to identify taxing rights and avoid double taxation, Singapore entered into various Double Taxation Agreements with the ensuing countries:
Albania, Australia, Austria, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Brunei, Bulgaria, Bermuda, Brazil, Cambodia, Canada, China, Cyprus, Czech Republic, Chile, Ecuador, Egypt, Estonia, Ethiopia, Fiji, Finland, France, Georgia, Germany. Ghana, Guernsey, Gabon, Germany, Greece, Hungary, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Indonesia, Japan, Jersey, Kazakhstan, Korea, Kuwait, Kenya, Laos, Latvia, Libya, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Mauritius, Mexico, Mongolia, Morocco, Myanmar, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Panama, Papua New Guinea, Philippines, Poland, Portugal, Qatar, Romania, Russian Federation, Rwanda, San Marino, Saudi Arabia, Seychelles, Slovak Republic, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Taiwan, Thailand, Tunisia, Turkey, Turkmenistan, Ukraine, United Arab Emirates, United Kingdom, Uruguay, Uzbekistan, and Vietnam.
Note: the DTA with Armenia, although signed, is not yet ratified.
Accounting and audit requirements for a company in Singapore
Every company is required to keep certain records such as, but not limited to, accounting records, registers, ledgers, and the like, and file its annual Income Tax Return with the IRAS. The Singapore Companies Act provided that all businesses or companies must have their respective financial statements and accounting records audited annually by an auditor unless it is among those exempted from audit. Filing of annual accounts must be made with the ACRA. For a business or company to be exempt, it must comply with at least two of the following conditions:
- The consolidated revenue must not exceed SGD 10 million;
- The consolidated total assets must not exceed SGD 10 million;
- The total number of employees in the group must not exceed 50 individuals.
Economic substance and residency requirements for companies in Singapore
- A company in Singapore may be owned 100% by a foreigner;
- There are not many restrictions, which is why Singapore is among the top countries with a high percentage of ease of doing business;
- The residency requirement mostly applies to the director and the corporate secretary.
LegalBison offers help with all of the above requirements. We assist and are local on the ground. Speak now for free with one of our consultants to get your business started.
About company registration in Singapore
Yes, but there are some qualifications. There are properties that may be acquired without approval under the Residential Property Act, while there are also those property acquisition that requires approval under the same Act. For a detailed list of what needs approval and what doesn’t, visit the website of the Singapore Land Authority.
No, Singapore does not impose capital gains tax.
Singapore has four official languages: English, Mandarin, Malay, and Tamil. English, however, is used widely and is also the medium of instruction in schools.
Contact Us
Request more information about incorporation in Singapore now: during the free primary consultation, we will answer all your questions about the company formation process and draw the further guidelines.
Consulting team dedicated into advising the best suitable jurisdiction for your project.
Corporate finance specialist and expert about FinTech regulations worldwide.
