SINGAPORE COMPANY FORMATIONS
Singapore is a leading international financial centre and most major international banks and financial institutions have offices in the country. Its financial markets range from traditional retail banking services through international markets such as the Asian Dollar market and financial futures, to the equity capital market of the Stock Exchange of Singapore. The Asian Dollar market centred in Singapore has steadily expanded from US$390 million as at end 1970 to US$340 billion in 1989. The insurance and
shipping industries are well established components of the commercial infrastructure and corporate management and trustee services are available from a number of firms.
Offshore investors are also well serviced by reputable merchant banks, other financial institutions and investment management companies offering a diverse range of sophisticated financial services. All major international accounting/audit firms have offices in Singapore and legal services are available from both local and foreign international firms of solicitors.
BASIC REQUIREMENTS FOR SINGAPORE COMPANIES
- Minimum 1 individual director is required and at least one director has to be an ordinary resident of Singapore who can be a Singapore Citizen/Permanent Resident/Employment Pass Holder/Dependant Pass Holder
- Minimum 1 individual Shareholder or 1 corporate body as 100% shareholder is required. You do not need a Singaporean for a shareholder.
- Minimum paid up capital is S$1.00
- Time taken to incorporate a Company is approximately 1 day to 2 days depending on case to case
- All Pte Ltd companies which are non-exempt (where the shareholder is a Company) are required to do annual Audit. This is waived if the Company is exempt Pte Ltd Company where the shareholders are individuals and the turnover is less than S$5 million per annum
- All Pte Ltd Companies are required to have a Company Secretary. We will act as your Company Secretary.
PROCEDURE FOR INCORPORATION
Should you wish to proceed with the incorporation of the company kindly furnish us with details of those who will be acting as the directors and shareholders of the company and furnish us copies of passport particulars of directors/shareholders.
Upon your confirmation, we will then draw up the necessary incorporation papers for the directors/shareholders to sign either in Singapore before us or if you prefer signing these documents without having to come to Singapore we can send these documents to you for the necessary signatures before a notary public.
TAX SYSTEM FACTS:
The first S$100,000 are tax free. Generally, profits earned outside Singapore are not subject to tax. Tax returns are required to be submitted annually, prepared on a time spent basis.
(Includes all filing fees, complete kit and opening of bank account in Singapore) US$ 7,950
(excluding disbursement costs and filing fees) US$ 1,500
(excluding postal charges): US$ 990
NOMINEE DIRECTOR:US$ 2,800
+US$ 2,500 Refundable Deposit
PLEASE NOTE FEES ARE SUBJECT TO CHANGE
- Fees may vary depending on exposure, level of activity / technical complexity.
- Courier fees, bank charges and other disbursements are billed separately.
- We charge on a time and cost basis for services provided other than matters listed above. This is available on request.