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start business in Singapore

To register Pte Ltd in Singapore, you would have to first seek approval for your company name and register your company by providing ACRA with the necessary company incorporation documents. Once both your company name and company registration has been approved by ACRA, you can then open your corporate bank account, apply for business licenses, and register for GST, fully incorporating your new company in Singapore

1. Full tax exemption on the first S$100,000 of profits and 50% tax exemption on the next S$200,000 of profits for the first 3 years. Note that from Year of Assessment 2020 this incentive will be changed to 75% tax exemption for first S$100,000 of profits and 50% exemption on the next S$100,000 in profit for the first 3 years.

2. A tax credit of up to 100% of the capital expenditure incurred for qualifying projects during the first five years (up to eight years in some cases).

3. 400% tax deduction or allowance on expenditures that enhance productivity or innovation.

4. Several cash grants available to startup in targeted industries.

1. Singapore has an extensive investment protection agreement and double tax treaty network. This includes most countries in the Asia-Pacific Region and countries in Europe, Africa and the Middle East. These countries include China, Indonesia, Thailand, Malaysia, Philippines, Vietnam, India, Japan, Korea, Australia, New Zealand, South Africa, United Kingdom, Netherlands, Germany, Switzerland, Sweden, France, Belgium, Finland and the United Arab Emirates.

2. Singapore is also one of the very few countries to have a tax treaty with Taiwan. This explains the popularity of Singapore holding companies for Taiwanese investments into China and the region

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1. Preparation of Required Documents for ACRA

2. Company Name Check and Reservation of Company Name

3. Registration of Company Name

4. Compilation of Company Business Profile

5. Opening of Corporate Bank Account

6. Annual Filing – mandated by the Singapore Companies Act

7. Corporate Secretarial Services

1. Public/Private company limited by shares

2. Company limited by guarantee

3. Unlimited company

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Singapore private limited company by shares is the most popular form, while company limited by guarantee is often used for non-profit purposes. Moreover, there are also exempt private companies eligible for certain privileges for small enterprises.

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1. Corporate structure of at least one natural resident director, one shareholder

2. Local company secretary and a registered address in Singapore

3. Filing annual return with ACRA and tax return with IRAS together with annual audited accounts. The accounts must be audited by a registered certified public accountant in Singapore

4. Holding annual general meetings

A minimum of one director (for both individual and corporate), who must be a Singapore natural resident is required. To fulfill this obligation, IVERSA could assist you in appointing a Singapore professional director. A foreigner who wants to register a new company in Singapore and act as a resident director of the company or operate the company, must first obtain a valid pass from the government