More than 60,000 new companies are registered every year in the country, according to statistics from the ACRA (Accounting and Corporate Regulatory Authority). We care about you – within 30 days from your purchase, if you’re unhappy with our services, we’ll refund our fee. Email or call us, and we’ll process the refund within five working days.
- Foreigners can own 100% equity of shares in their company.
- One of the basic requirements of opening a company in Singapore is that one of the company directors or authorized representatives is a resident of Singapore.
- Singapore is among the easiest countries to incorporate a business.
- Designed for Singapore citizens and permanent residents of Singapore who do not need our local director and Employment Pass application filing service.
A general partnership is formed by a minimum of 2 persons and a max of 20 persons. Partners pay their tax as personal income tax based on the share of income from their partnership. But a lot of entrepreneurs are unaware of this specific financial risk. When it comes to registering your Singapore companies, we advise against registering as a sole proprietor unless the company needs to register as one.
Singapore Company Registration: The Definitive 2023 Guide
The minimum paid-up capital for registration of Singapore company is S$1. Paid-up capital (or share capital) can be increased anytime after the incorporation of the company. You can also appoint one of your friend or a family member (over 18 years old) as the local director. They will have to work within the framework and act in the best interest of the company.
The World Bank has listed Singapore as one of the most business-friendly countries for many years now. We have prepared an important checklist for you to check on prior to the official incorporation of your company in Singapore. If you are hiring a company secretary for a public company, you need to appoint a certified secretary from a reputable institute. If the expected annual turnover of your new company is more than S$1 million, you must register it for GST. Then, you have to collect the 9% of GST from your clients and pay it to IRAS. In other countries, GST is also called VAT (Value Added Tax).
How long does it take to register a company in Singapore?
A company secretary is responsible for ensuring the company complies with its regulatory obligations and filings. When you incorporate your company through us, we will appoint a company secretary for your company. Incorporating a company in Singapore is fast, easy, and free from unnecessary red-tape. In this guide, we walk you through all the steps to register a new Singapore company. If you are ready to incorporate now, click the Get Started button.
Shareholders of a private limited company can be other companies, individuals, or a mixture of both. This fee includes both company registration and 1 year of our company secretary services. Our expert team will also help you to prepare any other documentation your company will need to get started and running. After your company has been incorporated, you can apply for an Employment Pass under the new company. The approval of the pass is subject to eligibility requirements and prevailing government policies. When your pass is approved, your family will also be eligible to relocate on the Dependant Pass visa.
Apart from these essential costs, you may also have to pay extra for services like Nominee Director and Registered Office Address. That’s everything you need to know and more on how to register a company in Singapore. Unless checklist for starting a business specified by our clients, Piloto Asia recommends registering as a Pte Ltd because of the numerous benefits it can enjoy. If you plan to build your company around two or more professionals, you can register as an LLP.
Step 1 – Obtain a Company Name Approval from the ACRA
To get started, you can either consult with our virtual agent by clicking at the bottom right chat icon or send us your inquiry for a prompt reply. We can address your questions via email, schedule a Zoom call, or arrange a visit to our office in Singapore. Use your Corppass Administrator account to manage your business’ digital transactions with the Government. Read up on the regulations that are specific to your business sector or industry.
Twenty years of cumulative experience have familiarized us with the twists and turns in company registration businesses include 93% success rate for Singapore Employment Pass. Yes, a foreigner is permitted to incorporate a company in Singapore. A foreigner intending to relocate to Singapore or those who have employment pass can incorporate a Singapore company. The procedures for company registration are fully computerised by ACRA in Singapore.
Q. How long does it take to register a company in Singapore?
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. Singapore-resident and foreign-resident persons can be directors of a Singapore company as long as there is at least one Singapore-resident director.
Minimum S$1 capital
It is crucial if you wish to relocate to Singapore and work in your company on a full-time basis. It means there are no outstanding dues of the company, like debts or liabilities that it cannot pay. Each month, the employees must contribute a specific part of their employees’ salary into their CPF account. The employer also makes some contributions to the employees’ CPF accounts each month. If your company gets engaged in trading activities, you must obtain a Central Registration Number from the Singapore Customs.
After Registering Your Company in Singapore: Documents that Will be Issued
A public limited company is another form of LLC, but they may offer their shares to the public instead of a private limited company. They are also subject to closer scrutiny by the Singapore government because they’re involved with raising funds from the public. In this case, Piloto Asia will be more than happy to assist international business owners looking to register and start a business here. From there, foreigners will have two options on how to operate their company right here in Singapore. The Ministry of Manpower (MOM) gives entrepreneurs an opportunity to obtain an EP once they have incorporated a company in Singapore.