OFFSHORE COMPANY FORMATION IN SINGAPORE
Hassle-free, tax-free, and secure offshore company formation in Singapore
Singapore Company Formation
Hassle-free, tax-free, and secure offshore company formation in Singapore
Do you want to explore the Singapore company formation options? Here’s how you can start your business ventures.
Singapore is a hugely popular destination for international company formation under the PTE limited liability company format. Singapore has a number of exacting rules in place regarding business registration.
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The first requirement is that one director is a Singaporean citizen or a resident with a work permit. If a foreigner wishes to serve as the local director of the company, they will have to apply for an Employment Pass/Approval-In-Principle letter.
You apply for this permit from the Employment Pass Department of the Ministry of Manpower.
Singapore only requires one director and shareholder for company formation and the entity needs to have a local address and qualified secretary.
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Shareholders can be corporations and from any nationality. The company name needs initial approval from the Registry of Companies & Businesses. Following initial approval, the documents are sent for incorporation.
The Memorandum and Articles of Association have to be stamped and signed, following approval of the name. These constitute the major steps in getting a company formed. Fees for registration depend upon a company’s share capital.
Benefits
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Low corporate tax rate with a three-year moratorium on taxable profits
Singapore Company Formation Benefits
What are the benefits of company formation in Singapore? This country is known as one of the most favourable countries for business and sits high up, if not at the very top, of many global rankings for international business. Besides allowing shareholders, including those investors who receive dividend payments from sources that are not the entity, to be exempt from paying Singaporean taxes, there are other perks.
What are some of the other Singapore company formation benefits?
Did you know that Singapore has been voted as having the world’s least burdensome tax regime? For someone looking to maximize their earnings and simplify their tax burden, that certainly makes a strong case for Singaporean company formation. Not only that; but as a reputable business jurisdiction, you’ll have access to a robust business ecosystem to strengthen your growth.
Some of the other benefits of company formation in Singapore are:
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A low corporate tax rate with a three-year moratorium on taxable profits
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Personal tax rates start at zero percent and cap out at 20% for amounts more than $320,000
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Does not have any estate, death, or inheritance taxes
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Full repatriation of profits and capital
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Known for some of the world’s best intellectual property protections
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No taxes on capital gains or dividends
Singapore Company Formation Requirements
What are the requirements for company formation in Singapore? The first is that one director is a Singaporean citizen or a resident with a work permit. If a foreigner wishes to serve as the local director of the company, they will have to apply for an Employment Pass/Approval-In-Principle letter at the Employment Pass Department of the Ministry of Manpower.
What are the other requirements for Singapore company formation?
Singapore only requires one director and shareholder for company formation and the entity needs to have a local address and qualified secretary. Shareholders can be corporations and from any nationality. The company name needs initial approval from the Registry of Companies & Businesses. Following initial approval, the documents are sent for incorporation.
The documents you must present to meet the Singapore company formation requirements are:
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Name of your company
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Registered address
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Description of your company’s activities
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Memorandum and Articles of Association
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Registration fees that depend on your entity’s share capital
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Details for your shareholders, directors and, company secretary