What is an incorporation package in Singapore
With no capital gains tax, robust IP protection, and one of the lowest corporate tax rates in the world, Singapore has topped the World Bank’s Ease of Doing Business index year after year.
In addition, 75 comprehensive double taxation agreements and 8 limited treaties dealing with income from shipping and air transport enterprises, as well as no controlled foreign company rules, make the city-state the most preferred destination for company incorporation in Asia.
6 KEY REQUIREMENTS FOR SINGAPORE COMPANY INCORPORATION:
Proposed Name Company – The company name must be approved before the Singapore Company Incorporation process.
Registered Office Address – Every Singapore Company must have a registered office address in Singapore.
Paid-Up Capital – The minimum paid-up capital (also known as share capital) to incorporate a company is S$1.
Shareholders – Private Limited Companies in Singapore are required to have a minimum of 1 Shareholder and maximum of 50 Shareholders. The shareholder may either be an individual or any other legal entity.
Company Directors– Company Directors must be at least 18 years old upon appointment and must not have any record of bankruptcy or malpractice. There must be at least 1 resident director who is: Singaporean Citizen, Permanent Resident, Entrepass holder, Employment Pass holder or Dependant Pass holder.
Company Secretary – The Singapore Companies Act mandates every company to appoint a qualified Company Secretary within 6 months after its incorporation.
If you are incorporating a Singapore company, below is the list of all your available options:
If you are a Foreign Individual:
- Singapore Company Incorporation + Employment Pass
- Singapore Company Incorporation + Entrepreneur Pass
- Singapore Company Incorporation + Nominee Director
If you are a Singapore Resident Individual or Company:
- Singapore Private Limited Company
- Singapore Limited Liability Partnership
- Singapore Sole Proprietorship
If you are a Foreign Company:
- Singapore Subsidiary Company + Employment Pass
- Singapore Subsidiary Company + Nominee Director
- Singapore Branch Office + Employment Pass
- Singapore Branch Office + Nominee Agents
- Singapore Representative Office Setup
Singapore Offshore Company Registration + Bank Account
- British Virgin Islands Offshore Company Formation
- Marshall Islands Offshore Company Formation
- Seychelles International Business Company Registration
- Hong Kong Company Registration
So, first of all you should choose a Singapore Company Formation Package:
Local Entrepreneur – This Singapore formation company package is suitable for entrepreneurs who wish to setup a Singapore company and have their own local Singapore Director.
Foreign Entrepreneur Without Relocation – This Singapore formation company package is suitable for foreign entrepreneurs who wish to setup a Singapore offshore company but don’t plan to relocate to Singapore.
Foreign Entrepreneur With Employment Pass – This Singapore formation company package is suitable for foreign entrepreneurs or professional who wish to form a Singapore company and relocate to Singapore to run their company operations. You must have degree qualification and/or relevant working experience to setting up business and apply for the employment pass.
Foreign Entrepreneur With EntrePass – This Singapore formation company package is suitable for foreign entrepreneurs who wish to incorporate a Singapore offshore company and relocate to Singapore on an Entrepreneur Pass (EntrePass) to run their company operations. You must have innovative ideas from overseas which could add to the entrepreneurial vibrancy in Singapore and meet all the requirements related to Entrepass application. For more information, you may refer to Singapore Entrepass.