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Private Company Formation

Advantage of Singapore Company incorporation

  • Excellent tax benefits from small-to-midsize companies: 0% taxes on 100K annual profits (first 3 years), approx. 9% tax on annual profits up-to 300K
  • Overall tax rate of 17% on profits above 300K
  • Zero taxes on capital gains in general
  • Annual statutory financial audit is not required if corporate turnover/sales is less than S$5 million (US$3.6 million).
  • 100% foreign shareholding allowed
  • Minimum paid-up capital of $1 only which can be increased later, Minimum 1 shareholder required
  • The concept of authorized capital has been abolished
  • A minimum of one resident director who must be holding any one of the followings residential/visa status:
    • Singapore Citizen
    • Singapore Permanent Resident
    • Entre Passholder
    • Employment Pass holder
    • Dependent Pass holder
  • The minimum age required to be a director is 18 years.
  • Immigration visa (entrepreneur pass) available for company owners wishing to relocate to Singapore to run their new Singapore company
  • No exchange controls or restrictions on repatriation of profits
Steps for Singapore Company Registration
  • company name approval
  • Prepare registration documents
  • sign company registration documents
  • Register company
  • Open bank account
The following information needs to be submitted to the registrar of companies (ACRA):
  • Memorandum and Articles of Association
  • Statutory Declaration of Compliance
  • Details of Shareholders, Directors, Secretaries, etc.
  • Identity Certificate
  • Registered office address
  • Consent to Act as Director and Statement of Non-disqualification to Act as Director
  • Consent to Act as Secretary
PRIME will complete preparation of above documents and procedure to Set up Company. Generally it takes only a day to incorporate a company
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