Incorporation for Singaporeans and permanent residents
Singapore is one of the countries with the greatest economic freedom due to its regulatory efficiency, the openness of its markets and its governmental and legislative control.
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Those who decide to start a business in Singapore must make a number of considerations in order to gain a competitive advantage in a crowded market.
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The process of registration, incorporation, and eventually becoming a legal entity demands a full understanding of numerous regulatory criteria.
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Corposimple assists entrepreneurs with all the requirements to achieve a successful business incorporation.
Company registration process
There are a few conditions for forming a Singapore company quickly.
Company name search and
reservation of company name
Company Name
Companies in Singapore are required to have at least 1 resident director.
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Director
A minimum of at least one corporate or individual shareholder is required. A director and shareholder can be the same or different person
Shareholders
The minimum paid-up capital to incorporate a company is S$1.00
Paid-Up Capital
Having a local registered company address is mandatory
Office Address
According to the Singapore Companies Act, the corporate secretary is an appointed official of the company.
Company Secretary
Super Lean
Non Nominee Director
SGD $2000
Includes
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Essential Company Secretary Package (1 year) Includes:
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AGM Preparation
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Annual Returns Filing
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Annual Accounting & Taxation for less than SGD$60,000 gross revenue/year (single currency)* includes:
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Annual Bookkeeping
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Management Reports:
- Yearly-Basis
- Balance Sheet,
- Income Statement,
- General Ledger,
- Account Payables Summary,
- Account Receivables Summary & Schedules -
Unaudited Financial Statements (UFS)
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Tax: Estimated Chargeable Income (ECI) & Corporate Tax Return Filing (Form C-S/C)
Excludes
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Revenue limit achieved: Difference to the next higher Accounting Package is chargeable once limit is reached
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Multi-currency account: applicable when you have two bank accounts with different currencies and/or receive funds or issue sales invoices in different currencies
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Corporate shareholder or negative net assets/equity: Full XBRL is required [assets and revenue >SGD$500,000]
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Negative net assets/equity: XBRL Simplified is required [assets and revenue <SGD$500,000]
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Monthly Xero Access
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Sole Prop Tax (Personal Tax)
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