And at corporate tax rates if the limited partner is a corporate body. We handle the entire process for you, from preparing documents to incorporating your company with Singapore’s authorities. Singapore is a fantastic place to register a company — but starting a business can be tricky. Access to business loans, investment opportunities, and government grants that are typically unavailable to unregistered businesses. regressive vs proportional vs progressive taxes Enjoy competitive corporate tax rates (17%) with various tax incentives and exemptions for qualifying businesses.
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- Traditional banks also often require an in-person interview for business account openings.
- Pay the company registration fee using a credit or debit card (Visa, Mastercard®, or American Express), PayPal, Apple Pay, or Google Pay.
- If you’re not Singaporean and you want a hassle-free experience, you might want to consider hiring a qualified company secretary..
- After approval, your company receives a Unique Entity Number (UEN) and a digital copy of its Business Profile, enabling you to operate legally in Singapore.
Yes, if you want to operate legally, invoice professionally, or open a business bank account. So, skip the paperwork and start your business right. Starting a business shouldn’t feel like decoding a puzzle. Most applications are approved within a few business days. Your business name must be unique and avoid restricted terms.
- The following words are not sufficient to make the proposed company name unique if there’s a registered entity with a similar name.
- The director may have to provide proof of address in Singapore.
- This document certifies that the company is registered with ACRA in Singapore and may be required when opening a corporate bank account or engaging with government agencies.
- If the company is registered, it should be under six months old when applying for EntrePass.
Opening a Business Account
You and other members have limited liability if the company fails. You also must outline how the relationship between shareholders and the limited company will be conducted. The Accounting and Corporate Regulatory Authority will want this detail before you can register your business.
You also need to include a brief description of your business’s primary activity, like “Selling of graphic designs.” For example, if your business sells designs, you would use the SSIC code “74192,” which stands for Art and Graphic Design Services. You can use the SSIC Search tool on Bizfile to find the appropriate code for your business. If you’re using a corporate service provider, they will typically handle this step for you as well.
How to Register a Company in Singapore: 2025 Guide
In Singapore, all company registration applications must be submitted online through the Bizfile system, which you can only do so with a Singpass. Deciding on the FYE is essential, as this information is required when filling out the company registration form. In case you cannot find a suitable candidate to act as a local director, you may appoint a nominee director who does not have actual executive authority in the company but can fulfil this requirement. It’s also a legal requirement that at least one local resident director remains on the management board at all times while the company is operating.
GST Registration
The country consistently ranks among the world’s top jurisdictions for ease of doing business. Additional schemes, such as the Intellectual Property Development Incentive and sector-specific tax concessions, can further lower effective tax rates. These incentives significantly reduce tax burdens during the critical early stages. Singapore has earned a global reputation as a premier destination for startups and international businesses, thanks to its strategic location, strong economy, and business-friendly environment.
A PDF document that serves as the certificate of incorporation and contains details of your company’s registration information. Once approved – congratulations, your business is officially registered! Virtual Office services can provide a prestigious business address, mail handling, and other administrative support.
Partial Tax Exemption Scheme
Jacqueline has been in the corporate services industry for over 25 years. Each package includes all essential services to set up a Singapore company, with transparent pricing and no hidden fees. Company registration in Singapore is a straightforward process, designed to minimize unnecessary bureaucracy. However, you must still declare a proposed business activity and choose the appropriate SSIC code during incorporation. It must be a physical address (not a P.O. Box) and available during standard business hours. No, you don’t need to be in Singapore to start the incorporation process.
Shareholders
These steps ensure that your company is legally compliant and properly set up to operate. The common business structures in Singapore include This is not included in the initial incorporation cost but it is a recurring yearly expense after that.
Its extensive network of 80+ double taxation agreements and 26 free trade agreements gives local businesses tariff-free or preferential how to find the percentage the on balanceallowance for doubtful accounts access to major markets like China, India, the US, and the EU. Whether you’re a local entrepreneur or a foreign investor, starting a business in Singapore offers unparalleled opportunities for growth and expansion. Advice on starting and growing your company, as told by Osome’s business community
However, you must appoint one within six months from the date of incorporation. The minimum paid-up capital for incorporating a company in Singapore is SGD 1, and it can be issued with or without full payment pension plan accounting estimates and the freezing from shareholders. Maximum of 50 shareholders; can have corporate shareholders. Maximum 20 shareholders; must not include any corporate shareholders.
Set the Amount of Share Capital
Your company must have a local registered address in Singapore. To make company registration simple, we offer two tailored packages – one for foreign entrepreneurs and one for local entrepreneurs. Yes, you can complete the new company registration process even if your business is not yet operational. Yes, to register a company in Singapore, a local registered office address is mandatory. Its pro-business environment, competitive tax rates, and global reputation make new company registration here a smart and strategic move. At BBCIncorp, we specialize in business registration in Singapore with a focus on making the company incorporation process simple, fast, and fully compliant.
Unlike when registering a company in Hong Kong, you are not required to have a company secretary at the time of registering a company in Singapore. Share capital can be increased after incorporation, but you need to provide this information when registering. The director may have to provide proof of address in Singapore. At least 1 director of the company must be a Singapore resident. When registering your business name, you need to provide a code that describes your main business activity. For example, if there is an existing business called “Star Solutions,” an application to register a new business as “The Star Solutions” or “Star Solutions South East Asia” would be rejected.
A registered company provides legitimacy and credibility with customers, suppliers, banks, and investors. Over 63,000 companies are registered in Singapore every year. Plus, operating informally may lead to penalties if your business exceeds S$1 million in annual revenue and you haven’t registered for GST. Without registration, you may not be able to open a business bank account, issue proper invoices, apply for grants or licences, or keep your income and taxes in order. Even if you’re a solo freelancer, registering as a Sole Proprietor gives you a UEN, which most clients and platforms expect for payment processing, banking, and compliance. Statrys offers an all-inclusive Singapore company registration package at a single price, covering all the essentials to get your company fully set up.
Keep your Singapore business on track with our comprehensive annual return filing services. You can keep all your relevant documents at this address, too. If you don’t want an office space or aren’t a resident in Singapore, your nominee director’s address can be submitted. These services are particularly useful for foreign entrepreneurs. Your secretary will track deadlines, keep documents in order, and ensure you stay compliant so that you don’t have to worry about this aspect of your business.
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