Singapore Companies are suitable for:
- Consultants / Counsellors
- International business
- Holding intellectual property rights
- Custody vehicle of movable and immovable property
- Estate planning
- Wealth management
Singapore Companies quick facts:
|Company type||Resident/Non Resident, Private Limited|
|Governing corporate legislation||The Companies Act and the Income Tax Act.|
|Information relating to company officers||Upon registration, names of companies officers will appear in the public registry. We usually provide a nominee director since this is required if you are not resident in Singapore. We can also provide nominee shareholders or alternatively set up an anonymous offshore holding company .|
|Confidentiality||Singapore offers a high level of anonymity and privacy|
|Accounting requirement||Preparation of accounts required. Account
There are exemptions to the account filing requirement, the audit requirement. Accounts are normaly publicly accessible but there are exemptions to this as well.
|Taxation||Taxation is 17% on income sourced in Singapore based on the assessment year of 2010.
To support entrepreneurship and to help Singapore local enterprises grow, a newly incorporated company that satisfies the qualifying conditions can claim for full tax exemption on the first $100,000 of normal chargeable income* (excluding Singapore franked dividends) for each of its first three consecutive YAs.
A further 50% exemption is given on the next $200,000 of the normal chargeable income* (excluding Singapore franked dividends) for each of the first three consecutive YAs.
First $100,000 @ 100% = $100,000
Next $200,000 @ 50% = $100,000
Total $300,000 $200,000
To qualify for the tax exemption for new start-up companies, your company must:
be incorporated in Singapore (other than a company limited by guarantee**);
Capital may be denominated in any currency
|Timeframe||Company formed in 3-5 days.|
|Stability||Stable jurisdiction with excellent reputation|
|Paid up capital requirement||No paid up capital requirement (1 $)|
|Basis of legal System||Common Law|
|Minimum shareholders / directors||Minimum of 1 Director and 1 Shareholder (Corporate shareholders and directors allowed.)|
|Fees||5,395 USD / ap. 4.579 EUR to incorporate including everything: Registered office, first year's government fees, agent fees, company secretary, *nominee director. Fee from year 2, 4,045 USD / ap. 3.433 EUR
*Refundable security deposit of 3000 SGD (ap. 2255 USD.)
Anonymous holding company is 1,205 USD / ap. 1.023 EUR extra and 665 USD / ap. 564 EUR yearly.
|Banking option 1 (in person):||995 USD / ap. 845 EUR. Bank account opening in person in our office in Singapore. Multi-currency account, debit card and internet banking.|
|Banking option 2 (per correspondence):||995 USD / ap. 845 EUR. Bank account opening through correspondence with a well established bank in the Caribbean. Accounts in all major currencies, no name debit cards in USD/EUR/GBP, payroll cards, corporate credit cards and Internet banking. The bank also offers investments in Gold/Silver, Stocks, Forex, Futures. Min. deposit 500 USD.|
|Banking option 3 (per correspondence):||995 USD / ap. 845 EUR. Bank account opening through correspondence with a well established bank in Belize. Accounts in all major currencies, corporate credit cards, no name debit cards and internet banking. Min. deposit 5000 USD.|
|Banking option 4 (per correspondence):||995 USD / ap. 845 EUR. Bank account opening through correspondence with a well established bank in Latvia. Accounts in different currencies, credit card in corporate name only and internet banking. Min. deposit 500 EUR.|
|*HIGLHY RECOMMENDED* Banking option 5 (per correspondence)||995 USD / ap. 845 EUR. Bank Account opening per correspondence in Switzerland. The bank has multicurrency accounts, credit cards, anonymous debit cards, internet banking, stock trading, forex trading etc. Bank account can be opened through correspondence. Min. deposit 10000 USD/CHF/EUR.|
|Required documents:||Notarized passport copy, utility bill in original. A bank reference letter or other professional reference letter can be required for some bank account openings. Please contact customer service for details. None of the documentation can be older than 3 months.|
CAUTION: Many others list low fees that do not include what is necessary, our fees are Complete.
Read more about Singapore below:
Singapore is situated at the southern tip of the Malaysian Peninsula. Strategically located along the major shipping and air routes of Asia, it is the major nerve centre for trade and investments in the region.
Spanning just over 622 sq km, Singapore though small, is undoubtedly an advanced and bustling economy. It thrives on an excellent infrastructure, highly educated labour force, political stability and an efficient business environment. Singapore is an ideal holding company and headquarters location and a gateway for foreign investments in to the emerging economies of Asia, such as China, India, Vietnam, Indonesia and Thailand.
Infrastructure and Economy
Singapore has an excellent infrastructure with state of the art communication facilities and road transport system. It operates busy and efficient air and seaports and is a free port with no customs and excise duties on most items. Singapore is also one of the leading international financial centres. Offshore investors are well served by representatives of most major international banks, financial institutions, investment management companies and accounting and legal firms.
The Singapore Government actively woos foreign investments with generous tax and financial incentives. This has successfully attracted numerous regional holding companies, corporate headquarters, business and service centres, group finance and treasury centres as well as investments in high tech industries, media and communications, shipping and financial services.