Singapore Company Incorporation Services

Incorporate Your Company Fast! And With Ease.

From S$318 Only!


Includes

Name reservation and company registration fee to ACRA

Memorandum & Articles of Association / Constitution

ACRA business profile

Electronic Certificate of Incorporation

Assistance with opening a company's bank account

Minutes of first board meeting

Share certificates

Common seals

Welcome kits for start-ups

Free 18-month Corporate Secretarial Services (Worth S$600 per year)

Free 12-month Company Registered Address (Worth S$240 per year)

Primary Package

S$ 318

Secondary Package

S$ 688

(Most Popular)

Professional Package

S$ 888

Why Incorporating a Company in Singapore?

With robust IP protection, one of the lowest corporate tax rates in the world, and no capital gains tax Singapore has topped the World Bank’s Ease of Doing Business index year after year.
In addition, 8 limited treaties and 75 comprehensive double taxation agreements dealing with income from air transport and shipping enterprises, as well as no controlled foreign company rules, make Singapore the most preferred destination for foreigners when it comes to company incorporation in Asia.

However, it is important to note that you cannot just operate any business without obtaining the legal documents required. Company registration is crucial to gain the remarkable benefits of establishing a business in the country. This is where Singapore Company Registration service comes in.

Incorporating a Company in Singapore

Get Started!

OS1 Enterprise's Company Formation Services

The most thriving organizations and corporations have a systematic action plan that starts with an appropriate organizational structure. At OS1 Enterprise, our understanding of the process of registering a company in Singapore will ensure you steer clear of the regular pitfalls that new businesses sometimes make when they start.

Your operations can be easily streamlined because we offer detailed registration, accounting, and financial management services for businesses. Working with us will allow you to focus on the most important aspect of your business; growing it.

Company Formation Services

Why Us?

Credibility

Credibility

We are a professional firm approved by the Accounting and Corporate Regulatory Authority of Singapore to act on behalf of our clients with their secretarial lodgment and company registration needs.

Sincerity

Sincerity

Our practical, patient and sincere approach has differentiated us from others when prospective clients make the decision to engage our services.

Honesty

Honesty

We take pride in performing our jobs with honesty. We do not evade issues or pass off errors. We always take responsibility. This is our promise to all our clients.

Customized Approach

Customized Approach

For seasoned entrepreneurs who don’t require guidance for setting up a company in Singapore, we can incorporate your company within two days if all the required documents are in order.

On the other hand, for new entrepreneurs who are just starting a business in Singapore, we take time to clear your doubts by answering your questions and ensuring you’re aware of the fundamental requirements of opening and running a company. Our approach has time and again, proven to be beneficial for many first time clients who were more than pleased to have a clearer picture of their commitments and obligations.

Other Important Information

  • Company Name.  The name you want to use must first be approved before you incorporate. We can handle this for you.
  • Directors.  It is mandatory that the company has one ‘Resident Director’ (a Singapore Citizen, a Permanent Resident of Singapore, or a person who has been issued an Entrepass, Employment Pass, or Dependent Pass). There is no limit on the number of additional local or foreign directors that the company can appoint. Directors must be at least 18 years of age and must not be bankrupt or convicted for any malpractice in the past. There is no requirement for the directors to also be shareholders, so non-shareholders can be appointed directors.
  • Shareholders.  A private limited company can have a minimum of 1 and maximum of 50 shareholders. A director and shareholder can be the same or a different person. The shareholder can be a person or another legal entity such as another company or trust. 100% local or foreign shareholding is allowed. New shares can be issued or existing shares can be transferred to another person any time after the company has gone through the incorporation process.
  • Company Secretary.  Every company must appoint a qualified company secretary within 6 months of incorporation. Please note that in case of a sole director/shareholder, the same person cannot act as the company secretary. The company secretary must be a natural person who is ordinarily resident in Singapore.
  • Paid-up Capital.  Minimum paid-up capital for registration of a company is S$1. Paid-up capital can be increased any time after incorporation of the company. There is no concept of Authorized Capital for Singapore companies.
  • Registered Address.  In order to register a Singapore company, you must provide a local Singapore address as the registered address of the company. The registered address must be a physical address (can be either a residential or commercial address) and cannot be a P.O. Box.
  • Taxation. Singapore registered companies enjoy very attractive tax exemptions and incentives. Your company will pay less than 9% for the first S$300,000 annual profits and 17% flat thereafter. Capital gains or dividend taxes are not levied on Singapore companies. The excellent tax benefits and business reputation of Singapore are the key reasons why entrepreneurs from around the world prefer to form a company in Singapore.

In order to incorporate a company in Singapore, the following information is required:

  1. An approved company name
  2. A brief description of activities of the business
  3. Shareholders’ personal particulars
  4. Directors’ personal particulars
  5. The registered address of the business
  6. Company Secretary particulars
  7. Memorandum and Articles of Association (MAA).

We will gather together the following documents from you in order to prepare the necessary company incorporation paperwork:

  • For non-residents: Copy of passport, proof of overseas residential address, and other Know-Your-Client (KYC) information (such as a bank reference letter, personal and business profile, etc.
  • For Singapore residents: Copy of Singapore identity card
  • If the shareholder is a corporate entity: Copy of registration documents – such as Certificate of Incorporation and Memorandum & Articles of Association

Please be aware that only officially-endorsed translated versions of documents are acceptable for any non-English documents.

The Singapore Registrar of Companies operates a computerized registration system, so the process is fast and efficient.

Two steps are involved in the process and in general they can both be completed in one day:

  1. Getting the company name approved
  2. The actual registration of your company

Getting the company name approved

We will file the application for you as part of our service. Subject to the name you choose, this part of the process can take less than an hour – unless you want to use words in the name that need special approval (words like bank, finance, law, media are examples that will take longer to approve). These may take days or weeks.

It is important to choose a name that is unique, or not too similar to an existing company. Make certain that it does not infringe any trademarks, and it is wise not to use a name that is internationally registered. And of course it cannot be vulgar, or already in use or reserved.

Once approved, the name will be reserved for 60 days. This can be extended for another 60 days by filing an extension just before expiry.

Registering the company

Once your company name has been approved, we will file the approval along with the incorporation application. Assuming that all documentation and supporting evidence is in order, registration forms can be ready for signing by the director(s) and shareholders(s) of the new company in a matter of hours. Rarely are there any delays. A S$300 registration fee is payable at the time of incorporating a private company.

What happens after the registration formalities have been completed?

Two documents (the Notification of Incorporation and a Company Business Profile – both of which come in emailed soft documents) are sufficient in Singapore for all legal and contractual purposes, including opening of corporate bank accounts, signing office leases, subscribing to telephone/internet services, etc.

Certificate of Incorporation.

The Company Registrar will send an official email notification confirming the incorporation of the company – this will include the company registration number. This email is regarded as the official certificate of incorporation in Singapore. If you prefer a hard copy, you can apply online after incorporation and there is a charge of approx. S$50 – the hard copy can be collected the next day from the office of the registrar.

Company Business Profile.

A business profile containing the particulars of the company can be obtained from the Company Registrar by making a request online and paying a small application fee. Generally, the PDF document is downloadable within an hour of the request and contains the following key details:

  1. Company name and registration number
  2. Previous names for the company, if any
  3. Incorporation date
  4. Principal activities
  5. Paid-up capital
  6. Shareholders’ details
  7. Directors’ details
  8. Company Secretary details

Other items that you will almost certainly require after registration include:

  1. Share certificates for each of the shareholders
  2. Share register indicating shares allotted to each of the shareholders
  3. Company seal
  4. Company rubber stamp

Opening a Corporate Bank Account

After the registration of your company, you can apply to open a bank account in any of the major banks in Singapore. Most banks require a physical presence of the company principals as part of the account opening procedure – so bear this in mind.

Applying for a Business License

Very few businesses require a business licence. If yours does, you must obtain this before you commence trading. We can advise you if your business needs a license and we will apply on your behalf. Examples of businesses that require a business license(s) include restaurants, educational institutes, travel agencies, financial services, import/export of goods, etc.

Goods and Services Tax (GST) registration

If you expect that your business annual revenue will exceed S$1 million, your company must register for GST. When your company is GST registered, you are obliged to charge this tax to your clients on all goods and services provided and remit the amount to the tax authorities. GST registration is not mandatory if your company’s annual turnover does not exceed S$1 million.

All companies incorporated in Singapore – whether active or inactive – must conform to certain annual filing requirements and formalities. What follows is a summary:

 Preparation of Financial Accounts

You must prepare annual financial accounts in accordance with the Financial Reporting Standards of Singapore. OS1 Enterprise's Accounting and Bookkeeping Service will manage this process for you speedily and reliably. We will recommend an appropriate methodology to best suit your transaction volume and complexity.

The financial accounts should consist of Statement of Comprehensive Income (Profit and Loss Account), Statement of Financial Position (Balance Sheet), Cash Flow Statement, and Statement of Changes in Equity.

Filing of Estimated Chargeable Income (ECI)

Companies are required to declare their revenue amount and Estimated Chargeable Income (ECI) by filing an ECI form with the IRAS within 3 months of the Financial Year End for the company. Even if the company estimates its chargeable income as zero, it still must file a “Nil” ECI.

Audit of Financial Accounts

Once up to date financial accounts are ready, your company may be required to have its accounts audited by an independent auditor if the company falls under one of the following:

  1. The company is a Singapore company with corporate shareholding
  2. The company is a Singapore company with annual revenue exceeding S$5 million

Annual General Meeting (AGM)

Every company must hold an Annual General Meeting (AGM) once every calendar year. The following general rules apply to AGMs:

  1. The first AGM must be held within 18 months of incorporation
  2. No more than 15 months may elapse between subsequent AGMs
  3. Accounts presented at the AGM shall be made up to a date not more than 6 months prior to AGM
  4. Private companies are allowed to dispense with AGMs if at a general meeting of the company a resolution to that effect is passed by all members with voting rights.

Requirements of Directors’ Reports/Audited Accounts

A company is not required to prepare an Audited Report if:

  1. The sales turnover does not exceed S$5 million, and
  2. it has no more than 20 shareholders, and
  3. it does not have a corporate shareholder at any point in time for the particular financial year.

A company which meets the above requirements can prepare an Unaudited Report – commonly known as the Directors’ Report.

Audited Reports must be prepared if the company has:

  1. A corporate shareholder, or
  2. a sales turnover exceeding S$5 million, or
  3. more than 20 shareholders.

Note:  Dormant companies can be exempted from preparing Audited Reports, but are still required to prepare an Unaudited Report. A company is considered dormant during a period in which no accounting transactions occur.

All Singapore companies are required to file their annual returns under the Companies Act within one month of holding the AGM or the passing of written resolutions in place of the AGM.

The following company information is required for filing annual returns:

  1. Name and registration number
  2. Registered address
  3. Principle activities
  4. Company type during financial year
  5. Summary of share capital and shares
  6. Registered charges
  7. Information about officers of the company
  8. Information about shareholders
  9. Dates of annual returns, annual general meeting and accounts
  10. Financial statements (XBRL format), if necessary

Filing Financial Statements in XBRL

A company that is insolvent, or has a corporate shareholder is required to file its annual financial statements in XBRL format.

Extension of Time

If a company requires more time to prepare its financial statement to enable an AGM to be held, and to file its annual return, ACRA can grant a one-off extension for a maximum of two months.

Non compliance

Non compliance with the requirements for holding an AGM and filing an annual return will incur penalties and/or court prosecution. The penalties imposed are dependent on the length of default and the number of sections (S175, S197 and S201) of the Companies Act breached.

Important Notes:

In addition to the above late charges, a summons may be issued against a company director, for not holding the company’s Annual General Meeting and/or not filing its Annual Return (AR), as stipulated under the law. The criteria are detailed for your information:

Local companies are required to prepare accounts for the Annual General Meeting (AGM) and file their Annual Returns under S175, S197 and S201 of the Companies Act

  • Section 175 stipulates that the AGM must be held within 18 months of incorporation, and once every calendar year thereafter – but not later than 15 months from the date of the last meeting.
  • Section 201 stipulates that directors must present at the AGM its Annual Accounts, and that they are not more than 6 months old.
  • Section 197 stipulates that Annual Returns must be filed within 1 month of holding the AGM.

Failure to comply with above stipulations renders offender liable to late filing penalties and/or composition fines as below:

  • Sections 175 and 197 – a $5,000 fine, plus the default penalty(s)
  • Section 201 – a $10,000, or up to 2 years imprisonment

Directors can face disqualification for persistent default – defined as 3 convictions within 5 years.

Suggested Statutory Timelines for a Private Limited Company

After a Singapore private limited company is incorporated, – whether active or inactive – must conform to certain annual filing statutory requirements and formalities. OS1 Enterprise has suggested the statutory timeline as below:

Suggested Statutory Timelines (Assuming the company's incorporation date is 1 January 2017)
31 December 2017

Financial Year End

This date will allow you to enjoy the S$100k tax benefit period for full 3 years, if you qualify for the IRAS tax exemption for new start up Company.

15 February 2018 or earlier

Preparation of Accounts

You will need sufficient time to gather all the supporting documents for accounting purpose.

31 March 2018

IRAS Estimated Charegable Income ("ECI") Submission

Submission of ECI must be submitted to tax authority (IRAS) within 3 months from your year end.

30 June 2018

Annual General Meeting ("AGM")

AGM must be held within 6 months from the year end or 15 months from the last AGM date/18 months from the incorporation date, whichever is earlier (also allowing 14 days notice to the directors for AGM)

29 July 2018

ACRA Annual Return

ACRA annual return to be done within 30 days from AGM date.

30 November 2018

IRAS Company Filing

Submission of Form C or Form C-S for tax assessment in November of the following year.

End

Testimonials - Happy Client, Happy Business

  • The services that OS1 rendered are fast and accurate. Will recommend to my business partners for sure. Keep up the good work.
    Kenny Lim
  • “Nicole has done a fantastic job managing my small business accounts in the consulting and education sector. She works accurately and efficiently, is friendly and approachable, uses the right tools to get the job done and is flexible to meet changes in circumstances.”
    Hugh Terry, Rain Trees Kindergarten Pte Ltd
  • “We look to O.S.1 to take care of our tax preparations and accounting needs. They are highly responsive and a pleasure to work with. We are very satisfied with their services.”
    P.K.Kakoulidis Shipping Singapore Pte Ltd
  • “I confirm that I have dealt with O.S.1 Pte Ltd since Aug 2011, during which time they have provided my business with excellent support in the area of account services. Their work has help us in smoothening the account activities in our company enabling us to have reliable and dependable report to our HQ in Japan on time.”
    Frankie Ong, Senior Manager of Sumiden International Trading (S) Pte Ltd
  • “Nicole (Or OS1 Pte Ltd) is one of the few professional accountants whom I’ve come across who is meticulous & detailed in her work. She listens attentively to our company’s needs, and able to advise us on various scenarios & alternatives choices for our company, be it for new set up or expansion. Her patience & valuable experience has also made us feel like she’s part of our business team, instead of just an accountant. Many times, she has extended extra effort to provide us with invaluable-added service, which has once again strengthen her comparative strength over others.”
    Kellin Chan – OIG International Pte Ltd
  • “Ms Nicole, not only get us registered, she’s to do and file our monthly CPF Contributions for our Employee (E-Filing) and update employee contributions when necessary in regards to their age limits and skills development Levy / Benefits. Objectivity to run the company smoothly with less “Paper Work”. If you want the same benefits, you should use O.S.1 Pte Ltd.”
    Mr Eddie H.P.Tan , Gloss & Glow Pte Ltd
  • “Nicole has always handled her work with responsibility and pride. She is also very neat and tidy with her work. Nicole is also very fast and quick in her all her work and always leave a very good impression in all her work. She is also very hardworking and devoted to her work. Therefore, I would want to thanks her for all her hard works and effort and congratulate for her new company.”
    KK.Teow, Director of Baker Deli One Pte Ltd

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