Advantages of Jurisdiction in Singapore
- highly competitive business environment
- high living standard
- Singapore’s leading position in economic freedom rating lists
- very favorable investment climate
- highly educated and population, high level of legal awareness
Type of company
Resident and non-resident limited liability companies – Limited (joint stock companies with limited liability) according to the “management and control”.
Director
Minimum number of directors – 2. Only a natural person can be a director and one of the directors must be a resident of Singapore. This director is responsible for ensuring that the company’s operations comply with Singapore’s legal order.
Shareholders
Minimum number of shareholders – 1. They can be natural and legal persons – residents of any state.
Secretary
there are no special requirements for the person of the secretary.
Registration period
within 3 weeks
Basic capital
The minimum amount of share capital is not set.
Nominal service
Yes
Requirements for the business firm (name) of the company
The suffix of the business name (name) of a limited liability company must contain the words “(Private) Limited” or “(PTE) LTD”.
Mandatory conditions
Intimacy
Bank secrecy is not specifically regulated to guarantee the confidentiality of information, but commercial and professional secrecy provisions are applicable.
The rule of law
Companies Act 1931–1993, International Business Act 1994
Annual administration fee (minimum)
Resident companies pay tax on income both from sources located in Singapore and from foreign sources. The income tax rate is 26%.
Non-residents pay income tax only from sources within the territory of Singapore and international double taxation treaties are not applicable to them.
General meetings of directors, shareholders
They are not mandatory.
Audit, other financial reporting
An annual report containing data on all changes in directors, shareholders and secretary, company name and registered office must be submitted to the Commercial Register. Annual financial statements and an auditor’s report are submitted to the tax authority and copies of these statements must be available at the company’s headquarters.
Taxes
The general income tax rate is 18%. According to certain criteria, it can be reduced to 15%, 10%, or even 0%. All income from sources within the territory of Singapore is taxed, as well as income from sources located outside the territory of Singapore, if it has been transferred to Singapore.
Exchange control
No
International treaties for the avoidance of double taxation
Australia, Bangladesh, Belgium, China, Denmark, Philippines, Finland, France, India, Indonesia, Israel, Italy, Japan, South Korea, Canada, Malaysia, Germany, Netherlands, New Zealand, Norway, Thailand, Taiwan, Srí Lanka, Sweden, Switzerland, United Kingdom.
Apostille
is recognized
Interested in more?
Complexity
Establishment of the company, its settlement, delivery of apostilled documentation, bookkeeping. All under one agency.
Support
Do you have a foreign company and don’t know if you have fulfilled all your legal obligations? We can help you to check and comply with all government requirements.
Management
Are you dissatisfied with the performance of your directors? Are they not meeting deadlines? Try us.
Fair price
Do you already have an offshore company? Do you want better conditions? Change your registration agent.
Quick contact
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Žitná 562/10
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Praha 2, 120 00
Our partners
In 1996 we became a registration agency as Parker & Hill Ltd. In 2011 we underwent a transformation and began to operate internationally under Parker & Hill Inc.
We are a member of the international consortium NWMS Ltd. We incorporate companies directly for you within 16 jurisdictions. We are not re-seller, we are the registration agency.