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Company Formation
in Singapore
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Free preparation of statutory documents
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Why Singapore?
Company Registration in Singapore for Foreign Business Owners and Entrepreneurs
One of the ‘Four Asian Tigers’, Singapore is a stable and diversified place run a business. In just over four decades, Singapore has established a thriving financial centre of internation repute, serving not only its domestic economy but also the wider Asia Pacific region and in some instances, the world.
Singpore’s financial centre offeres a broad range of financial services including banking, insurance, investment banking and treasury services, which is why Singapore is such a popular choice for company incorporation.
Singapore's Financial Centre
A key aspect of Singapore’s success as financial centre is its deep and liquid capital markets. With one of the more well-established capial markets in Asia-Pacific, the Singapore Exchange (SGX) is the preferred listing location of close to 800 global companies.
Today, Singapore has grown to be the largest Real Estate Investment Trust (REITs) market in Asia ex-Japan and also provides an extensive offering of investments in business trust of shipping, aviation and infrastructure assets.
International Financial HUB
Another reason Singapore is so popular for company incorporation and registration is that it is a leading provider of services such as international banking, trade finance, maritime finance, insureance, treasury operations, and asset and wealth management. Singapore is also the fourth largest foreign exchange trading centre in world after London, New York and Tokyo.
One of the top four global financial centres in the world, Singapore is also the second-largest over-the-country derivatives trading centre in Asia and a leading commodities derivatives trading hub.
There are over 121 commercial banks with over 115 foreign banks and 3 representative offices of banks in Singapore, all which play an active role in banking and finance. Singapore also has a total of approximately S$1.2 trillion worth of assets under management and is considered one of the premier asset management locations in Asia.
Ease of Doing Business
Transparent Policies for Company Registration in Singapore
In addition, Singapore is a safe, pro-business environment that is supported by a well-respected government. The Singapore government is transparent and has policies that protect companies’ physical and intellectual-property investments. There is little red-tape for doing business in Singapore. It is one of the least corrupt countries in the world and the least corrupt nation in all of Asia. It also boasts a well-developed infrastructure that meets all the needs of the business industry and is ranked as one of the top countries in the world for its infrastructure capabilities.
Advantages of Business
Registration in Singapore
Tax Exemption
Strong international network of agreements such as Double Tax Agreements
No dividend or capital gains tax
High quality of life
Stable and transparent political structure
Company incorporation services in Singapore from Premia TNC
Singapore is one of the greatest cities in the world in which to own and operate a business. To start your company incorporation in Singapore, or to learn more about our services, reach out to us today to speak with a specialist.
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Overview of
Key Features
Company Type
Private Limited Company
Legislation
Company Act (Chapter 50)
Suffix
Pte. ltd.
Declaration of Beneficial Owner
Yes
Audited Accounts
Can be exempted, subject to certain criteria
Official Language
English
DIRECTOR
At least one must be a local resident, 18 years old and above, and a Singapore Citizen, Singapore Permanent Resident or EntrePass holder.
AUDITOR
Must appoint an auditor within 3 months of incorpporationm, unless exempted from audit requirements.
REGISTERED OFFICE ADDRESS
Must be a local address in Singapore
COMPANY SECRETARY
Must be local resident and a natural person who is at least 18 years old.
SHARE CAPITAL
At least $1.00 per share in any currecy.
SHAREHOLDER
Can be fully owned by a foreigner, which can be an individual and/or a corporate entity.
Have some questions?
We are here for you.
Types of Companies
in Singapore
companies available in Singapore
A sole proprietorship is a business that can be owned and controlled by an individual, a company or a limited liability partnership. There are no partners in the business.
The legal status of a sole proprietorship can be defined as follows:
- It is not a separate legal entry from the business owner
- The business owner has unlimited liability (i.e. the business owner is personally liable for all the debts and losses of the sole proprietorship).
- It can sue or be sued in the owner’s name.
To set up a sole proprietorship, you must be:
- At least 18 years old.
- A Singapore Citizen, Singapore Permanent Resident, or an EntrePass Holder.
Procedure for Setting up a Sole Proprietorship
Fill in our formation form and provide us with the following information and documentation:-
- Proposed business name of the sole proprietorship;
Date of commencement of business; - Business activity code;
NRIC/Fin Number of owner/manager; - Detailed business address of the proposed sole proprietorship business;
- Email address and mobile number;
- Self-employed Medisave contribution must be up-to-date;
Premia TNC will fill up the registration form online and the business registration fee will be paid together with the e-submission.
Additional note:
From 1 January 1994, all self-employed persons are required to top up their Medisave account with the CPF Board before they register a sole-proprietorship, become the new owner of an existing sole-proprietorship, or renew their business registration. This requirement is only applicable to Singapore Citizens and Singapore Permanent Residents.
A partnership is a business owned by 2 to 20 partners.
The legal status of a partnership can be defined as follows:
- It is not a separate legal entity from the business owners
- The partners are personally liable for all the debts and losses of the partnership.
- It can sue or be sued in the partners’ names
Procedure for Setting up a Partnership
Fill in our formation form and provide us with the following information and documentation:-
- Proposed business name of the partnership;
- Date of commencement of business;
- Business activity code;
NRIC / Fin Number of owners/managers/partners; - Detailed business address of the proposed business;
- Email address and mobile number;
- Self-employed Medisave contributions must be up-to-date.
Premia TNC will fill up the registration form online and the name approval fee will be paid together with the e-submission.
The partnership can only be registered after all the partners have endorsed (or consented) to the submission of the online transaction and after the registration fee is paid (normally within 3 working days). After the endorsement, the registration number will be given by the Accounting and Corporate Regulatory Authority (“ACRA”).
Additional note:
From 1 January 1994, all self-employed persons are required to top up their Medisave account with the CPF Board before they register a partnership, become the new partner of an existing partnership, or renew their business registration. This requirement is only applicable to Singapore Citizens and Singapore Permanent Residents.
A local company is a business entity incorporated in Singapore. Companies have different setups and are distinguished by the company type e.g. private company limited by shares, an exempt private company, a public company limited by shares and a public company limited by guarantee.
The legal status of a local company can be defined as follows:
- It is a separate legal entity from the business owners
- It can sue or be sued in its own name
Procedure for Setting up a Local Company
Fill in our formation form and provide us with the following information and documentation:-
- Proposed business name of the company
- Description of the business activity
- Passport copy and latest address proof of the directors and shareholders
- Email address and contact number of the directors and shareholder
Company name reservation
- Every business requires a name to differentiate itself and make it easy for others to find the business.
- The first step is to choose a suitable name and submit a name application.
Registration
- Once the name application is approved, incorporation of the company may proceed.
- Submission of company information including particulars of directors and shareholders, and the registered office address to the Singapore Registrar of Companies (ACRA).
- The company will be incorporated ine ACRA has approved.
Post Registration
You may expect the following documents to be received after the company is duly incorporated:-
- Business Profile – with the company structural details
- Constitution – consists of Memorandum and Article of Association
- Certificate of Incorporation
Additional note:
The company can only open a bank account after it is incorporated. We will arrange the bank meeting based on your preferred schedule and will join the meeting in case assistance is required.
A foreign company is a company, corporation, association or any other body incorporated outside Singapore.
A foreign company may carry on business in Singapore by incorporating a local company or registering as a foreign branch under the Companies Act. The foreign branch is required to have a registered name, at least 1 local authorized representative and a registered office address in Singapore.
The legal status of a foreign company can be defined as follows:
- It is not a separate legal entity from the business owners
- It does not have a distinct legal personality. In other words, its liabilities may be enforced against the assets of the foreign company.
Procedure for Setting up a Foreign Company (Branch)
Fill in our formation form and provide us with the following information and documentation:-
- Business name of the branch must be the same as its holding company;
- Description of the business activity;
- Passport copy and latest address proof of all directors from the holding company;
- Email address and contact number of the directors.
Company name reservation
Check the availability of the company name and submit a name application
Registration
- Once the name application is approved, incorporation of the company may proceed.
- Submission of company information including particulars of directors and shareholders, and the registered office address to the Singapore Registrar of Companies (ACRA).
- The company will be incorporated once ACRA has approved.
Post Registration
You may expect the following documents to be received after the company is duly incorporated:-
- Business Profile – with the company structural details
- Certificate of Incorporation
Additional note:
The branch can only open a bank account after the branch is incorporated. We will arrange the bank meeting based on your preferred schedule and will join the meeting in case assistance is required.
The branch must prepare an audited report together with the holding company’s financial report for annual submission purposes.
A Representative Office in Singapore is meant for promotional activities only and it cannot enter into any business transactions either in its own capacity or on behalf of the parent company. The approving authority for registering a Representative Office is Enterprise Singapore.
Procedure for Setting up a Representative Office (“RO”)
Fill in our formation form and provide us with the following information and documentation:-
- A copy of the parent company’s Certificate of Incorporation (in English or an official translation)
- The parent company’s latest annual report and audited accounts
- Passport copy and latest address proof of all directors from the holding company
Additional note:
Approval can take 1 to 2 weeks and will usually be valid for one year. A representative office in Singapore must re-apply for a continuation of its status after the expory of the initial period of approval. A representative office can be renewed for a total of not more than 3 years. After the registration of a representative offive, the foreign company can apply for an employement pass for their overseas personnel who will be relocating to Singapore.
Fact Sheet for Private Limited
Companies in Singapore
Definition
- A business from which is a legal entity separate and distinct from its shareholders and directors
Closing the Business
- Winding Up - Voluntary by members or creditor, compulsorily by the High Court Striking off
Continuity in Law
- A company has perpetual succession until wound up or struck off
Formalities and Compliance Requirements
- Must appoint a company secretary within 6 months if incorporation
- Must appoint an auditor within 3 months after incorporation unless the company is exempt from audit requirements
- Compliance require like preparing the Financial Statements and filing of Annual Return are mandatory
- Statutory requirements for general meetings, directors, company seretary, share allotments, etc.
Registration Requirements
- At least one shareholder
- At least one director ordinarily resident in Singapore, at least 18 years old
- Must have a local registered office address
- undischarged bankrupts canot be a director and cannot manage a company without approval from the Court or the Official Assignee
Legal Status
- A separate legal entity from its members and directors
- Members have limited liability
- can sue or be sued in company's name
- Can own property in company's name
- Members not personally liable for debts and losses of company
Taxes
- The corporate tax rate is 17% flat on the company's chargeable income
- Partial tax exemption and tax exemption scheme for new start-up companies are available
Owned by
- Exempt Private Company - 20 members or less and no corporation holds beneficial interest in the company's shares
- Private Company - 50 members or less
Frequently Asked Questions
How do I incorporate my company in Singapore?
To start the formation of your company in Singapore, there are three main things you must do:
1. Choose your business structure
2. Resgister your company with the ACRA (Accounting & Corporate Regulatory Authority)
3. Set up your corporate bank account, if required
What requirements need to be met for Singapore company incorporation?
1. The company name – the name of the company needs to be approved before proceeding with the registration process
2. The directors – the company must have at least one Singapore resident director
3. The share capital – the minimum paid-up capital is a low amount of only $1
4. The shareholders – the company must have a minimum of 1 shareholder, either an individual or a corporate entity
5. An appointed company secretary – the secretary must be appointed within 6 months and must also be a natural person as well as a Singapore resident
6. A registered office address – this is mandatory for all registered Singapore companies and it cannot be a P.O box
What documents are need to incoporate a company in Singapore
Here is a list of information required to register a company in Singapore:
1. Constitution
2. Company name
3. Shareholder information
4. Director information
5. Company secretary information
6. Registered address
7. Description of business activity and plan
If you are not a resident of Singapore, you will need to provide additional information and documents such as a copy of your passport, and proof of your overseas address. You will also be required to provide KYC (Know Your Client) information which includes, but is not limited to, bank references, personal profiles, and business profiles.
Singapore residents will be required to provide a copy of their Singapore identity card, while corporate entity shareholders will be required to provide a copy of registered documents, such as the constitution, and certificate of incorporation.
For more information about our company formation services in Singapore, please reach out to us today.
Feel free to ask anything!
If your have any questions regarding our service, leave us a message and we would love to talk you through any queries.
Do you need
more information?
Business expansion guides to find out more:
Guidance and important notes for new company incorporation in Singapore.
Is it mandatory to engage a corporate secretary in Singapore.
What is Singapore's tax system like? Understand the different types of taxes you and your business can incur.
Hong Kong
PREMIA TNC LIMITED
Unit 706, 7/F, South Seas Centre Tower 2, No.75 Mody Road, Tsim Sha Tsui, Hong Kong
Contact Person
Irene Tsang
Aeris Lam
Contact Number
Singapore
Premia TNC (Singapore) Pte. Ltd.
8 Marina View, #39-04 Asia Square Tower 1, Singapore 018960
Contact Person
Amy Tan
Luis Wong
Contact Number
Taiwan
Premia TNC (Taiwan) Ltd.
18F-2, No.163, Sec. 1, Keelung Rd, Xinyi Dist, Taipei City 110, Taiwan (R.O.C)
Contact Person
Wells Lee
Contact Number
Vietnam (Hanoi)
Premia TNC (Vietnam) Co. Ltd.
4/F, Epic Tower, Alley 19, Duy Tan Street, My Dinh 2 Ward, Nam Tu Liem District, Hanoi, Vietnam
Contact Person
Vincent Truong
Contact Number
Vietnam (Ho Chi Minh)
Premia TNC (Vietnam) Co. Ltd.
3/F, Sonatus Building, 15 Le Thanh Ton Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam
Contact Person
Vincent Truong
Contact Number
Malaysia (Johor Bahru)
Premia TNC (Malaysia) Sdn. Bhd.
G-05, Residensi Eko,Jalan Eko Botani 3/5, Taman Eko Botani, 79100 Iskandar Puteri, Johor Darul Takzim, Malaysia.
Contact Person
Lily Lim
Contact Number
Malaysia (Kuala Lumpur)
Premia TNC (Malaysia) Sdn. Bhd.
Suite 6-1, Level 6, Lobby A, Wisma UOA II, No. 21 Jalan Pinang, 50450 Kuala Lumpur
Contact Person
Mandy Siew
Contact Number
Korea
Premia TNC Korea Limited
5F, K-Square, 161 Yanghwa-ro,
Mapo-gu, Seoul, South Korea
Contact Person
Jennifer Seo
Contact Number
China
Premia TNC (Xiamen) Limited
Room 2501, Ocean Mansion, No.268 Lujiang Road, Siming District, Xiamen, Fujian, China
Contact Person
Vicky Lin
Contact Number
UAE (Dubai)
Premia TNC (Middle East) - FZCO
Opal Tower, 7th Floor, Units 701-705, Burj Khalifa Boulevard, PO BOX 126732 Business Bay, Dubai - UAE
Contact Person
Irene Tsang
Catherine Kim
Contact Number
India
Premia TNC India Limited
A40, Sector80, PhaseⅡ, Noida, Dist.Gautam Budha Nagar, UP 201305 India
Contact Person
Hema Sehgal
Contact Number
Indonesia
Premia TNC Indonesia Limited
One Pacific Place 15th Floor
Jl. Jend. Sudirman Kav.
52-53 Jakarta 12190 Indonesia
Contact Person
Indonesia PIC
Contact Number
Premia TNC has the optimal solutions for your business’ overseas expansion needs.
Get in touch today for a FREE consultation.
No hidden costs, no obligations.
+65 9816 1884
Feel free to drop us an email too!
[email protected]
Premia TNC has the optimal solutions for your business’ overseas expansion needs.
Get in touch today for a FREE consultation.
No hidden costs, no obligations.
+65 9816 1884
Feel free to drop us an email too!
[email protected]
