Company Incorporation In Singapore
As an entrepreneur interested in building your vision, you’ve got the power of ideas and hard work. But there’s also red tape to be done: incorporating in Singapore means making sure that all the legal aspects of your new business is up to par.
Some of these regulations and paperwork can be a long and exhaustive process, especially if you don’t have past experience in this area. Because of this, companies exist to help you with company registration and incorporation in Singapore. Here is some information to help you navigate your options for incorporating companies in Singapore, and how you can make decisions to save your hard-earned time, energy, and money.
What Are Benefits Of Incorporating In Singapore?
Singapore has a myriad of attractive reasons to incorporate a business. Not only named one of the world’s most tech-ready cities by the WEF, but also the world’s highest-ranked place for ease of doing business, it’s the perfect place for a burgeoning startup to head.
First, an extremely low corporate tax rate means more of your business revenue will stay in your accounts. The Singapore corporate tax rate has been fixed at 17% since 2010, making it one of the lowest corporate tax regimes in the world. Not only this, but comprehensive double taxation agreements with dozens of countries make it easy to operate an international company within Singaporean boundaries.
Second, numerous credits and benefits are granted to Singapore companies by the government, allowing greater growth and encouraging profits.
Third, no capital gains or dividend taxes. This is great news for investments and for increasing your take-home revenue!
But, taking advantage of these benefits and low tax rates require that your company is properly incorporated within Singapore guidelines. Singapore’s special class of business entity, a Private Limited Company, allows a variety of benefits like liability protection, perpetual existence, tax benefits from incorporation, and enhanced credibility.
What Steps Can You Take To Register A Business In Singapore?
There are a few steps and qualifications to registering a business in the country. All of these steps are things that OS1 can assist with. Some of the qualification required for incorporation include:
- 1 shareholder
- 1 local director
- 1 secretary
- a local address
- share capital of at least $1
We will be able to assist you in making sure each of these steps is covered, making your company eligible for the numerous benefits involved in owning a Singapore-based PLC.
What Else Should You Know?
An important thing to note: foreign nationals are not allowed to incorporating in Singapore themselves. It’s necessary to appoint a local to undertake this process for you. Thankfully, we’re here and able to help you with company incorporation.
And not only are we able to help you with the red tape of company incorporation, but we’re also available for all accounting services for your Singapore company like bookkeeping, taxes, and financial advisory services.
Feel free to visit our company incorporation page for more information on registering a business in Singapore.