Singapore

The Republic of Singapore is a parliamentary republic with a Westminster system of unicameral parliamentary government representing constituencies. On August 31st, 1963 Singapore declared independence from the United Kingdom and joined the Federation of Malaysia. Singapore gained independence as the Republic of Singapore in 1965, population – 5 399 000.

The legal system of Singapore is based on the English Common Law.

 

Exempt Private Company (EPC) and Limited Liability Partnership (LLP), incorporated under the Companies Act, can conduct business in any part of the world including Singapore.

Tax Rate 
Corporate tax17 %*partial tax exemption
Received dividends0 %
Paid dividends0 %
Capital gains tax0 %
Interest paid15 %withholding tax
Royalties paid10 %withholding tax
Administrative fees/rentxwithholding tax may apply
Double tax treaties with 75 countries

* Partial tax exemption for new start-up companies (exclude passive investment companies) and companies older than 3 years

Taxation  income SGD/taxrate

First three years After
100,001 - 0%300,000 - 8,5%
100,001 - 300,000 - 8,5%300,0001- more - 17%
300,001 - more - 17%

 Advantages 

  • High international prestige of Singapore
  • No income tax for income of SGD 100 000
  • EPC can be used for international trade, especially with Asia

Disadvantages

  • Required to have a minimum of one director- resident of Singapore
  • Annually required to file a Financial Statement with the tax authorities
Name Must end with “Private Limited” or “ Pte Ltd”
Share capital The standard authorized share capital is SGD 1 000, not required to be paid before a company formation
Shareholders A maximum of twenty Shareholders, individuals, any nationality
Director A minimum of one, resident, individual
Secretary Required, resident, individual
Registered address Required
Annual reporting A complete set of returns must be filed, including the income tax return (Form C), audited/ unaudited accounts and tax computation

Company formation packages Request package prices ⇒

Legalization of documents with Apostille is not possible in Singapore, as Singapore is not a member of the Hague Convention.

In case the documents must be used outside Singapore, these should be legalized or apostilled in another country.

Timeframe

Incorporation of a new company, document legalization is from 20 working days, depends in which Embassy documents required to be legalized

Annual support (beginning with the second year) Request price ⇒

Annual financial statement – required

Audit – required*

* Exempt from auditing financial statements: EPC with annual revenue of less than SGD 5 million, and Dormant companies (i.e. companies having had no accounting transactions throughout the year)

Information that has to be provided by the customer

Incorporation process is possible as soon as the Due Diligence procedure is completed. Please fill in and send us the Order form; immediately afterwards, we are going to send you the information on the document required within the boundaries of the Due Diligence procedure.

1. Consult to determine the order. To choose a jurisdiction for a company we offer a consulting services:

  • via telephone +(371) 67280645
  • via e-mail: consult@bbp-net.com
  • via online question form found in the header Ask an expert
  • Navigation through our web site will help you to determine: benefits, prices and requirements in respective jurisdiction

2. Complete an application form. After you have made your decision, please complete one of the online application forms:

3. Issue of invoice and settlement of order. Within one business day of filling in the online application form, you will receive an invoice via e-mail. You can pay the invoice using money transfer to the BBP bank account provided in the invoice or via Internet, using PayPal. We suggest using PayPal only in case the amount is less than 200 EUR.

ATTENTION! The invoice number should be written in the details of payment!

A payment acknowledgement will be sent to you as soon as we will receive the payment.

4. After we receive the required Due Diligence documents from you, we shall commence the incorporation or the preparation of the documents required in order to carry out the acquirement of a ready-made company.

5. Document delivery to the client. Documents are sent via international courier mail.

6. Further supporting services. We guarantee to inform, assist and provide you with all the necessary services for further support of the company.

Get acquainted with jurisdiction legislation free of charge!

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*Please note that we shall only provide one document for free. If you would like to receive more information please contact us!