Our Foreigner Incorporation Package designed for foreign entrepreneurs and foreign companies is the most popular option. The cost of the first-year service bundle is S$3,100, inclusive of official government fees. The package covers all legal requirements to incorporate a new Singapore company for foreigners. You can check the services included on our Foreigner Package service page. Below are general guidelines for the types of documents that should be provided to satisfy this requirement. A private limited company means your business is a separate legal entity.

That person can be a foreign national or a Singaporean citizen. As long as the business director legally resides in Singapore, they can help you fulfil this requirement. The owner’s personal assets are not protected from the company’s liabilities.

Singapore company registration process is simple and free of red tape. The government also encourages the incorporation of company by offering various tax exemptions and schemes to startups. It is why new entrepreneurs tend to favour an ACRA register company. Investors are more likely to buy shares from a company where there is a separation between business assets and personal assets.

Food CompanyRegistration in Singapore

Once you have officially incorporated your Singapore business, the Companies Act requires specific annual filing requirements to be made. See here for what you need to know about annual tax filing in Singapore. This is a legal requirement; the role is critical to your business, and Singapore companies cannot operate without one. It requires various certifications and involves many responsibilities.

Such an account is necessary for your business’ financial transactions. A foreigner or foreign business entity can be shareholders of a Singapore company. Foreigners can also form companies in Singapore without having to relocate to the country for this purpose. But if they choose to relocate, they need to obtain a Singapore immigration pass.

Tax may be withheld in a variety of situations, including payments made to non-resident firms or persons for services delivered in Singapore, where income is earned. You must withhold a portion of the money and make it payable to IRAS instead. Withholding tax on funds transferred outside of Singapore typically varies from 10% to 15%. All shareholders in a Singapore firm are entitled to dividends based on the company’s profits.

• Net income is the amount of money you make after subtracting adjustments, deductions, and credits from your gross income.
• When setting up your company, you need to choose the type of company structure that best suits your needs.
• We can address your questions via email, schedule a Zoom call, or arrange a visit to our office in Singapore.
• Explore how our Live Registry Connections and Automated UBO Engine can drive safe cross-border growth for your business.

Your private limited company must have a registered address in Singapore. Box; all your statutory documents should be kept at this address. The shareholders then appoint directors to manage the company. According to the Singapore Companies Act, any person (foreign or local) above the age of 18 can register a Singapore company. All the stakeholders in your company like directors, shareholders, and company secretary have 120 days from the data of name approval to login in BizFile+ and give their consent online.

What are the requirements to incorporate?

This document is usually reviewed by lawyers as part of the incorporation process. Singapore-registered companies enjoy very attractive tax exemptions and incentives. For instance, a new start-up company can claim tax exemptions on the first $200,000 of its normal chargeable income. It is important to note that in the case where there is only a sole director/shareholder, the same person cannot act as the company secretary. The office of company secretary also cannot be left vacant for more than 6 months at any one time.

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Like a typical company, you just need to decide what type of legal entities you need to register. Foreigners can enjoy a hassle-free process of registering their company here in Singapore without voided check having to worry about red tapes and corruption. Our expertise in navigating post-registration processes can make your transition into Singapore’s business world smooth and successful.

Why Should You Set Up a Private Limited Company (Pte Ltd)?

Sign up to receive useful guides to help you make the right choices for you and your business. Get an estimate of how much it costs to start and run a business in Singapore with our Setup Cost Calculator. Read up on the regulations that are specific to your business sector or industry. Verify that a company is operational and holds the required licenses.

Users can also access the registry in person at ACRA’s office. Maintained by the Accounting and Corporate Regulatory Authority (ACRA), the Singapore register is an electronic database that provides valuable information on all registered companies in Singapore. With its minimal requirements, it’s one of the easiest places globally to kickstart a business, even bagging the #2 spot in the World Bank’s Doing Business rankings.

Key Requirements for Company Registration in Singapore

Please take note that there might be other supporting documents required because it varies from CSP to CSP. If the forms are foreign, they’ll need to be officially translated. The World Bank consistently recognizes Singapore as the world’s best place to do business.