SINGAPORE FAQ

Company Incorporation

Incorporating a company in Singapore can be done online through the BizFile+ portal, which is operated by ACRA (Accounting & Corporate Regulatory Authority).

Besides our service fees, there are 2 ACRA charges to note. The first is the S$15 fee for the name application, and the second is the registration fee, which costs S$300. A charge of S$50 will also apply to purchase the Certificate of Incorporation from ACRA.

However, the applicant will need a SingPass ID, which many foreigners do not have. Foreigners will need to engage a registered filing agent, such as a corporate secretarial firm, to assist them. Please contact us for more information on our service fees.

Yes, both foreign residents and Singapore residents can be directors, but the company is required to have at least one Singapore resident director.

If you do not have a local director, we can provide a yearly nominee director service. Please contact us to learn more about our nominee director and business registration services in Singapore.

Registering and incorporating a company in Singapore is fairly straightforward – but there are still certain requirements that are needed for registration.

Premia TNC has over a decade’s worth of experience in setting up companies in Singapore. We handle the compliance matters and related deadlines so you can focus on building your business.

Company Secretary

In essence, a corporate secretary is an officer that has been appointed by the company. However, the person chosen to conduct corporate secretarial services has to adhere to the strict requirements of the Singapore Companies Act.

The corporate secretary chosen has to be a Singapore Citizen or Permanent Resident. Alternatively, they can be Singapore Employment Pass Holders or EntrePass Holders.

Every business organization needs to have a corporate secretary, as stated by state corporation laws. However, not everyone can be a corporate secretary as there are certain qualifications they need to possess.

Yes, having a company secretary is mandatory in Singapore. The country’s Company Law states that every business has to appoint a company secretary. Furthermore, this process must be done within six months from the date that the company is formed. Otherwise, a penalty will be imposed by the local authority for breach of compliance.

If you are the sole director of the company, you are not eligible. Singapore law also mandates that the company secretary must be at least the age of 18 and a local resident of Singapore.

Accounting Auditing Taxation

If you are ready to outsource your secretarial and accounting functions, or are just looking for a bookkeeping company in Singapore, call us now to engage our top-quality accountancy services in Singapore.

All the companies in Singapore must appoint an auditor within 3 months from the date of incorporation, unless the company meets the criteria of Small Company exempted from audit requirements(please contact us)

As of 2020, companies are taxed at a flat rate of 17%. It should be noted that this rate is only levied on profits – not revenue.

While 17% is the flat rate, the effective rate is often lower due to tax incentives available to business owners.