menu
phone Contact phone white arrow down
cart

Registering a company in Singapore in 2020 - what you need to know?

Thank you for your query. We will contact you soon.

Registering a company in Singapore in 2020

The main advantages of this jurisdiction are:

  • Stable economic and political situation;
  • One of the globally recognized financial centers;
  • Favorable business environment;
  • High level confidentiality;
  • Minimum requirements for share capital;
  • Relatively fast and easy company establishment process.

Business registration - from 4,200 €

Company registration period - from 14 days

Detailed information
Need more info?
get a detailed information
*
*
Feel like adding a comment?

* - *required fields

Singapore is an Asian city-state. It has a highly developed market economy. A favorable tax climate, an exemplary reputation, a stability are indisputable advantages of this jurisdiction, that attract foreign investors from all over the world. Having decided to register a Singapore company, we advise you to contact IQD Consulting experts. Our competent specialists will provide accompanying services at each stage of registering an enterprise in Singapore, of opening an account with a bank in Singapore.

Establishing a commercial enterprise in Singapore in 2020 - jurisdiction news

In order to register a commercial organization in Singapore, you need to choose a legal form:

  • an Individual Enterprise (a Sole Proprietorship);
  • a Partnership;
  • a Company;
  • an LP;
  • an LLP;
  • a Business Trust.
If you want to register an Individual Enterprise in Singapore, we advise you to familiarize yourself with the features of this form:
  • Business activities can be carried out only by one person;
  • Regulatory requirements for management of the enterprise are simplified and minimized;
  • Registering a Sole Proprietorship in Singapore, the owner assumes responsibility for absolutely all duties;
  • A termination of the activities occurs under a simplified procedure;
  • A status of a separate legal entity is not available.
If you want to register a Partnership in Singapore, we recommend you to study all features of this form:
  • Activities may be carried out by two or more persons;
  • It is necessary to register a business under a legal name in ACRA;
  • Regulatory requirements for the establishment and management of the enterprise are simplified and minimized;
  • Legal registration requirements are simplified;
  • Establishing a Partnership in Singapore is characterized by a taxation on an individual basis for each partner (a tax transparency);
  • A termination of the activities occurs under a simplified procedure;
  • Each partner assumes its own responsibility for debts/obligations;
  • A maximum number of partners is 20;
  • The status of a separate legal entity is not available.
Deciding to register the Company in Singapore, we suggest you to familiarize yourself with all features of this form:
  • Partners do not bear their own responsibility for debts/obligations of business activities;
  • The number of participants is unlimited;
  • The liability of members is limited to their shares;
  • There are different administrative requirements, regarding an organization of a company;
  • There are a number of formalities and regulatory requirements;
  • The termination of business activity is accompanied by a number of legislative requirements.
If you intend to set up an LP in Singapore, you need to familiarize yourself with such features:
  • It does not have the status of a legal entity and therefore cannot own property on its own behalf;
  • The partner does not take a responsibility for debts/obligations and does not have the right to take part in the management of the enterprise;
  • A limited partner assumes a limited liability for debts/obligations of business activities;
  • Regulatory requirements for the establishment and organization of LP are minimized;
  • Registering a Limited Partnership in Singapore is characterized by an individual tax rate for each partner;
  • A termination of the activities occurs under a simplified procedure;
  • A maximum number of participants is 20.
Having decided to register a Singapore LLP, you will need to study all features of this form:
  • A company may own a property, registered in its own name;
  • Regulatory requirements for a management are and minimized;
  • Opening an LLP in Singapore is characterized by a taxation on an individual basis for each partner;
  • The partner does not take a responsibility for debts, duties or activities of other participants;
  • Unlimited partners are allowed;
  • A termination of the activities occurs under a simplified procedure;
  • It is necessary to provide a declaration of confirmation of solvency every year.
Read also:
In order to register a trust in Singapore, you need to familiarize yourself with features of this form of business activity:
  • It does not have a separate legal entity status;
  • A Trust director owns and manages assets of the business activity;
  • The owner is not responsible for debts/obligations within the business activity;
  • A parent must be a legal entity;
  • It is allowed to have an unlimited number of participants;
  • There are different administrative requirements for the organization and registration of a trust in Singapore;
  • The termination of the company is accompanied by a number of legal requirements.
Options for registering a foreign company in Singapore:
  • Registering a representative office in Singapore takes place at the Council on International Entrepreneurship of Singapore;
  • Establishing a branch in Singapore in accordance with the Companies Act;
  • Setting up an LLC in Singapore.

Hiring franchisees, distributors, marketing agents is not seen as doing business in Singapore.

Foreign entrepreneurs, who plan to open a company in Singapore are required to:
  • register an office space;
  • open a bank account in Singapore;
  • register a unique name;
  • prepare all necessary standard documentation, confirming credentials of representatives;
  • submit on time financial statements annually to ACRA;
  • obtain a license in Singapore;
  • provide ACRA information, regarding any changes to company data.
Singapore taxes
  • a corporate tax is 17%;
  • a dividend tax is 0%;
  • interest are 15%;
  • royalty - 15%;
  • Foreign investors, who have registered a new company in Singapore, are given the opportunity of tax exemption for 3 years;
  • If a company conducts business and receives income outside the state, then it is exempt from a taxation.

Interested in getting expert advice?

Your name user
Your comment comment

Do you want to add an alternative form of communication?

tel add icon telegram add icon skype add icon whatsapp add icon viber add icon
people with bank
Our company shall not be liable for any direct, indirect or consequential loss arising from the use of the information and material contained in this website.

Top news in June

Popular news

Banks | Singapore

Fund Registration | Singapore