You can use this document to gain an understanding of how to incorporate your company in Singapore; at A1 we can navigate all the steps that are required and essential. Just like any modern country, Singapore has a number of requirements for Singapore company registration that you must fulfil with when you want to start the registration process of company in Singapore and operate as a company here. A1 company incorporation services in Singapore, to help you through the rather complex process of setting up your Singapore Corporation. Self-registration of a new company is not allowed in Singapore for non-residents.
In Singapore, creating a private limited company is the most common way to register a new or relocated business. The rules and regulations are set forth in the Singapore Companies Act for how to register a company in Singapore, which allows anyone above 18 years old to register a Singapore company. This form of incorporation or registering a company in Singapore provides the most efficient tax plan and structure for an A1 Business.
Things to know before you Register Company in Singapore
Keep in mind the following information you’ll need to provide for incorporating a business in Singapore:
- Company’s Name. You must receive approval for your brand new company name before registering business Singapore.
- Directors. You must have at least one Director who is resident in Singapore. This person can be a permanent resident, citizen or someone with a valid employment pass or dependent. You can appoint any number of directors, local and foreign, as you want. You must ensure they are older or completed 18, have no criminal record and can’t suffer bankruptcy. Directors need not be the shareholders.
- Shareholders. For Private Limited Company, you can have between 1 and 50 shareholders. Shareholders can be individuals or entities, foreign or local. After incorporation, you can transfer or issue shares to shareholders. Your Company is considered as an Exempt Private Company if the private company has at most 20 shareholders, and No corporation holds (indirectly or directly) any beneficial interest in the EPC’s shares.
- Company Secretary. Under the Singapore Companies Act, Section 171, you have 6 months to appoint a qualified company secretary once you incorporate. A shareholder or sole director can’t also be the company secretary, who must be a natural person living in Singapore.
- Paid-up Capital. Your company must have at least S$1 in paid up capital, though you can increase the amount at any time after incorporation. Singapore companies do not use authorized capital. It can be ordinary shares, other shares or preference shares.
- Registered Address. You need to register a local business address. It can be commercial or residential, but can’t be a post office box. Under the Home Office Scheme, using their residential premises homeowners are allowed to conduct small-scale businesses.
- Taxation. You’ll love
Singapore’s tax exemptions and incentives:
- Pay no more than 8.5 percent tax on your first S$300,000 of annual profits and 17 percent thereafter.
- Forget about dividend or capital gains taxes.
- Acknowledge that Singapore companies enjoy some of the world’s best tax benefits and business reputations.
- Check the https://www.a1corp.com.sg/xin-jia-po-zhu-ce-gong-si/ for more detail.