Singapore Company Incorporation Packages & Fees

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Singapore company incorporation process takes only 1-3 days. Our promotional company incorporation package starts at $699 only. It comes with 2 FREE services like company secretary and registered office address for the first year.

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Company Incorporation in Singapore

The Accounting & Corporate Regulatory Authority (ACRA) is the Company Registrar and governs the process to incorporate a company in Singapore. It is as per the Companies Act, Chapter 50.

Things You Should Know Before Incorporation of a Singapore Company

The online company registration in Singapore is a well-optimized process. Both local & foreign entrepreneurs can complete it in 1-3 days & set up their business in Singapore without any hassle.

You, as a foreigner, cannot open a company in Singapore on your own and need to appoint a registered filing agent. You also need an Entrepreneur pass to relocate and work in the city-state. Ask your agent for the customised Singapore company registration solutions.

Singapore Business Structures that Get You Maximum Benefits

Any individual over the age of 18 can form a company in Singapore. Even foreigners can own 100% shares in a company.

In Singapore, you can use the following business structures or entity types to register a company in Singapore and maximise tax benefits.

  • Private Limited Company (Pte Ltd)

  • Subsidiary Company

  • Branch Office

Singapore Company Incorporation Services

Private Limited Company (Pte Ltd)

Local and foreign individuals prefer to opt for private limited company registration. It is a tax-efficient and dynamic structure most suitable for business growth.

  • It can have 1-50 shareholders.

  • At least one director must be ordinarily resident (Singapore citizens, Permanent Resident, or an Entrepass holder).

  • Singapore corporate income tax is in the range of 0%-17%.

  • It has a separate legal identity from company shareholders.

  • It has perpetual existence.

  • It is a legal person having rights of a natural person.

  • It can buy or sell property in its name.

  • It can sue or be sued in its name.

  • The company is responsible for its losses or debts.

  • Transfer of ownership of shares is easy.

  • It is credible to investors, financial institutions, suppliers, & customers.

  • As a tax resident, a local private limited company gets all tax benefits and incentives offered by the authorities.

Subsidiary Company

A foreign corporate entity can set up a subsidiary company to expand its business activities to Singapore.

  • It has a separate identity from its parent company.

  • The parent company can own 100% shareholding in its Singapore subsidiary.

  • A subsidiary is treated as a local company. It gets the tax benefits, exemptions, and rebates provided by the authorities.

  • A subsidiary is liable for its debts and losses. The parent company’s liability is limited to its share capital.

Branch Office

The foreign companies can also register their branch office in Singapore.

  • The branch office has no separate identity from its foreign parent company.

  • It is taken to be the extension of its parent company.

  • The parent company is liable for its branch’s debts and losses.

  • The management of the Singapore branch office deals with issues regarding shareholding, business activities, and structure by referring to the Memorandum & Articles of Association of the parent company.

  • It is not treated as a local Singapore company. It cannot claim the tax benefits, exemptions, and rebates offered by the local authorities.

  • Before company incorporation in Singapore, discuss your needs with your agent. Because, with the right business structure, you can manage the risk, liability, growth, & branding of business effectively.

(Please take note, Currently, we are not providing Branch Office Services until further Notice)

Key Requirements to Register a Company in Singapore

You need:

  • Minimum paid-up capital of $1

  • At least one shareholder

  • At least one local or resident director

  • At least one company secretary

  • Registered local address

Incorporating a Business in Singapore for Foreigners

Registered Filing Agent: You, as a foreign individual or a corporate entity, can simplify your task by appointing a registered filing agent. A number of Singaporean accounting firms, law firms, or Singapore secretarial services act in this capacity.

Local Director: Most importantly, you need to appoint a local director who is ordinarily resident of Singapore. Singaporeans, Permanent Residents, and EntrePass holders are eligible to act a local director for a new Singapore company formation.

3 Steps for Company Registration in Singapore

Step 1: Apply & get your company’s name approved from ACRA

Supply a list of 3-5 names to the agent. They will check them for availability in BizFile+ portal.

For the quick approval of the company name:

  • Choose a unique name that will hint at the nature of your business

  • ACRA rejects names containing vulgar or obscene words

  • It should not violate copyrights or trademarks

  • If your application gets referred to the higher authorities, the approval can take up to 2 months.

 

      The approved company name is reserved for 60 days. The agent can extend the period by another 60             days by applying to ACRA.

Step 2: Documents for Company Incorporation in Singapore

Following is a list of documents that you need to submit at the time of forming a Singapore company.

  • Approved Company name

  • Description of business activities

  • Registered local address

  • Particulars of shareholders, directors, company secretary

  • Foreign Individuals: a copy of passport & proof of residential address (overseas)

  • Foreign Companies: Memorandum & Articles of Associations, Certificate of Incorporation

  • Singapore Residents: A copy of their Singapore identity card

Step 3: Submit an application to ACRA

The process to incorporate company in Singapore is online. Submit your documents to your agent who can visit online portal BizFile+ for the task.

Official Documents Available Post Company Registration

Company Constitution

  • At the time of company formation in Singapore, you need to adopt a company constitution (Memorandum and Articles of Association). It is a document that details the rules and procedures that govern the working of your company. It also details the purpose and the rights and responsibilities of the company.

  • You can either use generic or model company constitution by ACRA or hire experts to prepare a custom one to fulfil your needs. The document addresses issues like:

  • Company name

  • The limited liability of its members

  • The full names, addresses, and occupations of company’s founder shareholders

  • A statement expressing the wish of the first shareholders to form a company as per the Constitution and to own a stated number of shares in its capital

  • The company constitution also details rules to run the company on a daily basis and how to handle issues that are listed below:

  • Issuance and sale of shares

  • Company meetings

  • Company directors

  • Company secretary

  • Company seal

  • Financial statements

  • Dividends

  • Winding-up

Documents Issued by ACRA to You on Successful Company Registration

Certificate of Incorporation

After the successful incorporation of the company, ACRA sends an email. It contains the registration number of company, date, etc. The email is good enough as a certificate of incorporation in Singapore. The agent can apply to ACRA for its hard copy.

Company’s Business Profile (BizProfile)

The business profile contains details of the company. It can be downloaded in PDF format after paying a small fee.

  • Company name

  • Registration number

  • Previous names for the company, if any

  • Registration date

  • Principal Business Activities

  • Paid-up capital

  • Registered address

  • Particulars of Shareholders/Directors/Company Secretary

You need a business profile for opening a corporate bank account, signing documents for office lease, subscribing to utilities.

Post-Incorporation Tasks

First Board Resolution

After incorporating a company, its shareholders meet and pass resolutions to hire directors, company secretaries, or company secretarial services, auditors, etc.

Get Licenses and Permits

If your company needs licenses or permits, apply and get them before starting the business activities.

Goods and Service Tax (GST) Registration

If you expect to cross S$1 million in annual turnover, register your company for GST.

Company Seal & Stamp

The company seal and stamp lends credibility to the documents. You need the company seal if your company constitution says so.

Share Certificates

The share certificates are proof of shareholders’ ownership in the company. The company secretary issues them to the shareholders of the company.

Tips for Singapore Company’s Compliance

Accounting: Singapore companies need to keep accounting books in order. It means updating general ledgers, accounts payable and account receivables, or fixed asset ledger, etc. And filing of annual financial statements with ACRA in XBRL format.

Annual General Meeting: The providers of company secretarial services assist companies in conveying their annual general meeting in every calendar year. The companies need to table their financial statements for the shareholder’s scrutiny.

Annual Returns Filing: It must file Annual Returns within a month of its AGM.

Corporate Tax: The due dates of company tax filing are 30 November (paper-filing) and 15 December (e-filing).

Determine Financial Year: The company can choose any month to start its financial year.

Unique Entity Number: Corporate secretary Singapore has to make sure that company’s name and UEN is on all of its official documents, correspondence, and business letters.

SBS Consulting Pte Ltd is a reliable registered filing agent. We assist our clients in Singapore business incorporation. If you have any queries about it, call us on +65 6536 0036 or send an email at info@sbsgroup.com.sg to know more.