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Singapore

Main corporate features
General
Type of Company Pte Ltd. (Private Limited)
Type of Law Common
Company Registration Period 2-4 working days
Taxation  Income tax 17%
Sales tax 17%
Some income from foreign sources may be excluded from the tax base
Double Taxation Treaty Access Yes
Automatic Information Exchange Agreement Yes
Shelf Company Availability Available
Authorized Share Capital
Minimum Paid-Up Capital SGD1
Standard Currency SGD
Other Currencies Any
Restrictions on the Size of the Authorized Capital No
Bearer Shares Not allowed 
Directors
The minimum Number of Directors One
Residency Requirements Yes - at least one director must be resident of Singapore
Director - Legal Entities Not allowed 
Age Restrictions 18 years and over
Board of Directors’ Meeting Location Anywhere
Shareholders
Minimum Number One
Residency Requirements No
Corporate Shareholders Not allowed
Publicly Available Records Yes
Place of holding of Meetings of Shareholders Anywhere
Company Secretary
Secretary Appointment  Yes
Age Restrictions 18 years and over
Residency Requirements Yes
Keeping of records
Account Filing Requirements Yes
Audit of the Company Yes (if the annual revenue is exceeding S$5 million)

 

Corporate Legislation 

The modern legislative base, is based on the Companies Act Cap.50. 

Type of Company used for International Business and Investments 
Pte. Ltd., Sdn. Bhd., Pte. Limited, Sdn. Berhad - Singapore Company.

Business Activities  
Any activities permitted by law.
To conduct certain activities (banking, insurance, trust, tourism, etc.) is required to obtain an additional license.

Obligatory Requirements to Company
There should be a registered office in Sinagapore, local director and a company secretary.

Taxation 
Non-resident company is fully exempt from income tax, and must not carry out their activities on the territory of Singapore, as well as listing all the profits to the banks of Singapore.
Resident companies are required to withhold 17% tax on the profits of the company, provided that the company operates on the territory of Singapore or transfers all profits to the banks of Singapore.

Authorized Share Capital 
Minimum paid-up capital for registration of a Singapore company is S$1.00. Suggested authorized share capital is SG$1000 of no par value. 
Bearer Shares
Not allowed. 

Shareholders and Directors
The minimum number of Shareholders - one (physical or legal person). 
The minimum number of Directors - one (only physical person). 
The one of directors must be a resident of Singapore. 

Company Secretary 
Singapore Companies Act requires all Singapore Companies to appoint a Company Secretary to handle on-going statutory compliance matters.The Secretary must be only a resident of Singapore. Director of the company can not act as the secretary.

Provision of Fiduciary Services
Yes.

Disclosure of Information on the Beneficial Owner and Bank Operations
Yes, since the registry of the company is open. 

Shareholders/Directors Meetings
Meetings of shareholders and directors can be carried out worldwide.

Filing of Annual Accounts 
Yes.

Filing of Annual Return 
Yes.

Keeping of Documents of the Company
The operational documentation should be kept at the registered office of the company .

The Signed Agreements on Avoidance of the Double Taxation (DTA)
Singapore has more than 70 agreements on avoidance of double taxation, including Russia, Belarus, Kazakhstan, Ukraine, Uzbekistan. 

Registration Time Frame 
The company can be registered within 2-4 working days.

 

General Information 

With the development of the world community, the number of investors and entrepreneurs who organize their business abroad is also increasing. Using the companies registered in Singapore, is a reliable platform for the international market, as well as an attractive economic zone with preferential tax treatment.
Singapore is an advanced, focused on international standards jurisdiction with modern infrastructure and high levels of business environment.
The banking system of Singapore is one of the most reliable in the world.
If you plan to build your business at the international level with access to all world markets, the company registered with Singapore perhaps best deal.

 

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