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Company incorporation services in Singapore
1. Why should you set up a company in Singapore?
Unlock the advantages of incorporating your company in Singapore
Attractive tax incentives
Attractive tax incentives for up to XNUMX years and numerous government support schemes
Discover nowStreamlined procedures
Fast, simple incorporation process. We handle everything so you can focus on what you do best: business
Discover now Attractive tax incentives for up to XNUMX years and numerous government support schemes
Opening a private joint stock company (PTE. LTD.) in Singapore is the is the top choice for businesses, thanks to unbeatable tax incentives and pro-business policies.
Singapore corporate tax incentives for the first 3 years after company formation | Profit (from assessment year 2020 onwards) | CIT |
| First 100,000 SGD profit | 75% corporate income tax exemption |
| Next 100,000 SGD profit | 50% corporate income tax exemption |
| From SGD 201,000 profit and above | 17% corporate income tax (lowest among ASEAN countries) and second lowest in Asia (after Hong Kong) |
The above table data is for estimation and reference only. You should consult GLA tax consultants for the most current guidance.
Simple tax calculation from year 4 onwards Taxable profit
SGD
Taxes payable
SGD
Compare taxes in countries | # | Country | Continent | CIT (%)  | PIT (%) | Sales tax (%) | GDP per Capita (USD) | Rank by GDP per Capita |
| 1 |  Belize | Central America | 12800 | 134 | |||
| 2 |  British Virgin Islands | Central America | 0 | 34200 | 72 | ||
| 3 |  Canada | North America | 15 | 33 | 15 | 55800 | 34 |
| 4 |  Estonia | Europe | 20 | 20 | 22 | 42000 | 57 |
| 5 |  Hong Kong | Asia | 16.5 | 16 | 64400 | 24 | |
| 6 |  Ireland | Europe | 12.5 | 40 | 23 | 115600 | 4 |
| 7 |  Japan | Asia | 23.2 | 45 | 10 | 46300 | 51 |
| 8 |  Laos | Asia | 20 | 25 | 10 | 8400 | 153 |
| 9 |  Malaysia | Asia | 24 | 30 | 10 | 33600 | 73 |
| 10 |  Seychelles | Africa | 29500 | 78 | |||
| 11 |  Singapore | Asia | 17 | 24 | 9 | 127500 | 2 |
| 12 |  Thailand | Asia | 20 | 35 | 7 | 21100 | 99 |
| 13 |  United Arab Emirates | Asia | 9 | 5 | 75600 | 13 | |
| 14 |  United Kingdom | Europe | 25 | 45 | 20 | 54100 | 36 |
| 15 |  United States of America | North America | 21 | 37 | 73600 | 14 | |
| 16 |  Vietnam | Asia | 20 | 20 | 10 | 13700 | 130 |
Note: The above table data is for estimate and reference only. You should consult GLA tax consultants to update the most current instructions. In addition, companies registered in Singapore enjoy many incentives and benefits from 41 International Investment Agreements (IIA) of Singapore with countries, and more than 70 Avoidance of Double Taxation Agreements.
Singapore's preferential tax and investment policies have made this country one of Asia's leading financial centers and the top choice for global businesses when establishing foreign companies.
Fast, simple incorporation process. We handle everything so you can focus on what you do best: business
Set up your Singapore company in just 1 day with a XNUMX% online process!
GLA ensures a fast, hassle-free, and reputable incorporation experience, from filling out paperwork to paying government fees when opening a company in Singapore.
Start your company with GLA today. Get your limited company registered, corporate bank account opened, and compliance sorted for the year ahead.
Good brand, infrastructure, attractive geographical location attract businesses to set up companies in Singapore
Strong branding to gain investor trust and attract funding with a pro-business environment and global credibility
Quick legal change procedures
Smart corporate tax structure
Trademark protection for your products, services
Asia Regional Hub - access to leading financial and technology companies and centers (Facebook, Google, international banking systems, etc.)
Singapore stands out with its world-class infrastructure and strategic location, making it a top business choice. As a global financial hub, it offers an attractive environment for local and international enterprises.
Conveniently located in the heart of Asia, Singapore is known as a trade artery on the international trade map with modern transportation systems such as:
Air
Top 1 best airport in the world for 7 consecutive years (2013-2020), Changi Airport offers world-class facilities, meeting the needs of large companies and multinational corporations.
Shipping
When it comes to maritime transportation, Singapore is known as one of the leading transshipment hubs, with ports connecting to more than 600 other ports and more than 120 countries around the world.
Transport and Logistics
One of Singapore’s top goals is to become a global logistics nation. Clear and transparent regulations and advanced solutions and services enable the Singapore logistics system to be a solid launching pad for many companies operating in many different fields.
If you are looking to expand your business internationally, Singapore should be your top choice for overseas company formation.
Recommendations from experts
If you are looking to expand your business internationally, Singapore should be the top choice for businesses to incorporate their company aborad
2. Top industries to do business in Singapore
Commercial business 
Ecommerce 
Games, software 
Marketing, information technology 
Tourists 
Logistics 
Medical equipment 
Import and export 
Finance See list of articles by industry:
3. Only XNUMX key requirements to register your company in Singapore
Nominee Director
One of the mandatory requirements when you want to form a company in Singapore is to have at least one director who is a citizen/permanent resident of Singapore or a work permit from Employment passand above in Singapore. Nominee Director must be 18 years of age or older, not be accused of bankruptcy or have a criminal record in the past.
- The nominee director is not the shareholder of the company and does not receive any profits from the company;
- The nominee director needs to sign certain documents during the operation of the Singapore company.
Singapore Secretary
Besides the director, Singapore company secretary is a mandatory requirement of the Singapore government for the incorporation of a company in Singapore. The Singapore company secretary must be a Singapore citizen or a holder of a Singapore work visa such as Employment Pass or above or have the knowledge and skills, certifications necessary to support Singapore companies in complying with corporate law, tax and accounting laws in Singapore.
The Singapore company secretary will be responsible for providing legal advice to the Singapore company to help the company comply with the regulations set by the Singapore government. In addition, the secretary is also the representative of the Singapore company to submit the following documents: Singapore company annual report for the Singapore government.
Singapore company type
By law, Types of companies Foreigners can choose from in Singapore including:
| Sole Proprietorship | Partnership | Private Equity Company (Pte. Ltd.) | Limited Liability Partnership | Limited Partnership (LP) | |
| Juridical | No separate legal entity | No separate legal entity | No separate legal entity | Has separate legal status (company has property ownership and permanent inheritance rights) | No legal status, shareholders have limited liability |
| Shareholder | 1 shareholder is also the owner | From 2 to 20 shareholders When the number of shareholders is greater than 20, the company, Enterprise will need to change to the type of company Pte. Ltd. | Maximum 50 shareholders | Unlimited number of shareholders | Minimum 2 members |
| Responsibility | Owner is responsible | Members have unlimited liability for debts and obligations incurred by other shareholders. | The company has separate and distinct legal liability from its owners. | Shareholders are not responsible for the debts incurred by the company. | One member will be responsible for managing the main company (general partner) and 1 shareholder will contribute capital and have only limited liability (limited partner). |
| Authorized capital | 1 SGD | 1 SGD | 1 SGD | 1 SGD | 1 SGD |
Company name
The name of a company registered in Singapore will be approved by the Singapore Companies Regulatory Authority (ACRA) upon registration in Singapore. The Singapore company name will be approved when the following requirements are met:
- The registered business name does not match the previously registered business name;
- The registered business name does not coincide with the proper name of businesses that have been registered and approved by ACRA but have not yet registered their business and have not yet established a company;
- The registered name must comply with public morals and not contain sensitive language;
- The registered name is approved by the Minister of the agencies. Specifically, the Singapore company name for Enterprises in the fields of: banking, military, finance, education, etc. will be forwarded to the relevant specialized agencies for approval authority to ensure standards depending on the industries.
GLA will assist you in registering a company name in Singapore appropriately and quickly. GLA will advise and assist the Company in the process of selecting a name, submitting the registration list and being reviewed by ACRA, and answering questions and feedback from ACRA if the company name is not approved.
Office Address
Businesses establishing companies in Singapore are required to have Office address in Singapore Registered with ACRA.
Offices in Singapore are quite expensive and costly, GLA will advise and support the Company in choosing an office rental location at an affordable cost with GLA's office address rental service package.
Companies that need to rent an office address for operations, hire employees, and serve business will be advised by GLA's team of experts who understand the location and business environment in Singapore to find an address that suits the company's needs.
4. Simple 5-step process to get your Singapore company ready today
Step 1: Choose the type of Singapore company you intend to incorporate
You can choose 1 of 5 types of Singapore companies. Of which, a private limited company is the most optimal choice for enterprises.
- Sole Proprietorship;
- Partnership;
- Private Equity Company (Pte. Ltd.);
- Limited Liability Partnership;
- Limited Partnership.
Step 2: Register the company name in Singapore
To successfully open a company in Singapore, businesses need to register an available company name that does not overlap with company names in Singapore.
To increase the chances of approval with ACRA, the business name must ensure the following elements:
- On the BizFile+ portal, enter the name of the Singapore company you intend to register into the site search bar and click the “Search” button to ensure that the proposed name is not the same as an already registered name;
- Do not use offensive or sensitive words in the name of your Singapore company;
- Avoid names related to government agencies and laws;
- The company name should be in English, consistent with the nature of the company's operations.
GLA will assist businesses in verifying the list of names to ensure that the company name complies with ACRA regulations. This will help increase the rate of company name registration and shorten the time to open a company in Singapore.
Step 3: Choose a reputable Singapore company establishment service provider that supports businesses
The Accounting Corporate Regulatory Authority (ACRA) is the Singapore government agency responsible for registering companies in Singapore. To log in to the BizFile+ portal, businesses must have a Singpass account (Singaporean personal identification number) to register their business.
In addition, according to Singapore corporate law, the procedure for establishing a company in Singapore requires:
- Director Singapore nationality/permanent resident or have a Work Permit from Employment Pass or above;
- Office address in Singapore;
- Secretary of Singapore Citizenship/Permanent Resident Office.
As a foreigner, the Enterprise will encounter difficulties in carrying out the procedures and processes of establishing a company in Singapore. Therefore, cooperating with experienced consultants like GLA will help the process of establishing a company in Singapore to be faster, more economical and more effective.
GLA provides businesses with a complete, easy Singapore company establishment service, with simple procedures for establishing a company in Singapore, from registering a business address in Singapore, the cost of hiring a Singaporean appointed director, company secretary to registering necessary licenses, market research, opening a bank account in Singapore for individuals/companies.
Step 4: Receive business registration results in Singapore
Once the company registration process with ACRA is complete, the Company will receive an email notification from ACRA containing the Company Registration Number (UEN) and the Certificate of Incorporation. This email will serve as official confirmation that the company has been incorporated and the Company can commence operations in Singapore and internationally.
Step 5: Open a bank account in Singapore and other services
After incorporation in Singapore, the Company can do:
- Open a bank account in Singapore;
- Register to open Stripe/ PayPal payment gateway;
- Register a DUNS number for the company;
- Do monthly/yearly financial report submitted to the Singapore government.
After registering for GLA's Singapore company formation service, the entire company opening process will be carried out quickly within 1,5 - 2 days, as soon as the Singapore government receives all the information.
5. What to do after setting up a company in Singapore?
Open a bank account in Singapore for the company
Singapore has the best banking system in the world with high transparency and clear government regulations. There are many reputable banks in Singapore, and the largest banks in the world for the Company to choose from with diverse banking services, high safety and security. Not only allowing the Company to operate in Singapore and internationally, owning a Singapore bank account gives the Company prestige and a professional image in the international market.
To open bank account in singapore, you need to prepare:
- Application for opening a bank account in Singapore (will be provided by the bank) - GLA will guide the account holder to fill in the information;
- Valid documents of Singapore company such as Business Registration Certificate and Company Charter, Passport of director/shareholder/bank account holder;
- Proof of address of director/shareholder/bank account holder;
GLA will support the Company to open an online payment account (online bank account with digital bank in Singapore, Hong Kong, USA, etc., PayPal Business account). You will not need to fly to these countries for an account opening interview.
Register for a sub-license (depending on the business field)
After opening a company in Singapore, you need to apply for a sub-license from the relevant competent authority to operate in industries and services such as pharmaceuticals, food, education, financial services, tourism, etc.
This is necessary to ensure that companies are operating within the legal framework and providing quality products and services to consumers. In addition, companies can also build trust and credibility with customers when owning a business license.
Goods and Services Tax (GST) Registration
GST is an indirect tax, GST registered businesses will collect GST from their customers and remit it to the Inland Revenue Authority of Singapore (IRAS).
Businesses setting up a company in Singapore with an expected annual turnover of over SGD 1 million are required to register for GST with the Inland Revenue Authority of Singapore (IRAS).
If the Business expects to have a turnover of over SGD 1 million, the Business will need to register for GST with the Inland Revenue Authority of Singapore (IRAS).
Agricultural company
Opening a company in Singapore was a turning point in our expansion into the international market, helping us achieve million-dollar revenue in the agricultural export sector.
Ms. An
Game app company
Successfully uploading the game to the Apple Store helped us double our revenue overnight. GLA accompanied us in opening a Singapore company, supporting DUNS and Apple Developer registration. GLA is more than a consulting service company, but a trusted partner.
Mr. Thai
6. From idea to reality: Our client journeys with GLA
7. What reports need to be submitted annually to the Singapore government?
Financial report
Compliance time Enterprises can freely choose the end date of their fiscal year. The first fiscal year can be from 12 months and not exceed 18 months from the date of establishment.
Penalties for non-compliance Must comply with Singapore accounting standards
Minutes of the Annual General Meeting
(Annual General Meeting “AGM”)
Compliance time A newly established company must be organized within 18 months from the date of incorporation.
An established company must hold its AGM within 15 months of its previous AGM.
The company must hold an AGM within 6 months before the end of the financial year.
Penalties for non-compliance View Full AGM late penalty
Annual report
(Annual Return “AR”)
Compliance time Within 30 days of holding the AGM.
Penalties for non-compliance View Full AR Late Penalty
Estimated taxable income
(Estimate Chargeable Income “ECI”)
Compliance time Submit the report within 3 months after the end of the fiscal year.
Penalties for non-compliance View Full ECI late penalty
Corporate income tax return
(Form C/CS)
Compliance time For hard copy: every November 30th.
For online copy: every December 15th.
Penalties for non-compliance View Full Late Form C/CS Penalty
Do not miss!
Annual reports required to be filed with the government are especially important for Singapore businesses.
8. How can GLA help you build a sustainable company in Singapore?
Register your company name and prepare the necessary documents to set up a company in Singapore
Pay fees to the Singapore government
Provide a registered office address in Singapore
Prepare Business Profile, minutes of first board meeting;
Support for opening corporate bank accounts in Singapore
Make company seal
Provide nominee director and company secretary services
Support for business license registration, GST registration for businesses in Singapore
GLA, with a team of experienced consultants, lawyers, accountants, will provide businesses with the necessary support with a complete, professional, reputable company establishment service in Singapore and easy procedures for establishing a company in Singapore:
1How much capital do I need to set up my company in Singapore?
The Singapore corporate law does not require a minimum capital for company incorporation. Therefore, with only 1 SGD, a you can set up your own company in Singapore
2 Can a Vietnamese director be named as a director of a Singapore company?
A Vietnamese director can absolutely be the director of a Singapore company if the Vietnamese director has an Employment Pass.
Applying for an Employment Pass will take 2-3 months and comes with conditions for successful Employment Pass registration. If the Enterprise does not have qualified personnel to apply for an Employment Pass in Singapore, it can hire a designated Singaporean director.
GLA will advise and support businesses. Singapore Employment Pass.
3 In addition to opening a physical bank card in Singapore, can I open an online bank account (digital bank) in Singapore?
Currently, in addition to the large traditional banking system in Singapore, businesses can register for online bank accounts of digital banks in Singapore. All procedures for opening an online bank account in Singapore such as: opening an account, interviewing for authentication, etc. will be done online without having to go to the bank.
GLA will support businesses to open digital bank accounts online in Singapore quickly, economically and effectively with experience in opening online bank accounts for many foreign businesses establishing companies in Singapore.
4Do I need to fly to Singapore to set up my company?
You don’t need to fly to Singapore to set up your company. All documents and procedures can be done XNUMX% online. GLA provides professional and comprehensive support. We guide you from choosing the right country for your business to completing incorporation, opening a bank account, and starting operations smoothly.
If a business chooses to open a physical bank account for its Singapore company, the director or shareholder must travel to Singapore for an in-person interview.
5 What are the business sectors that can operate in Singapore?
GLA offers company incorporation services in Singapore for all legally permitted industries. We support businesses in mobile apps, restaurants, tourism, e-commerce (E-commerce, Dropshipping), as well as Crypto, blockchain, GameFi, NFT, logistics, medical equipment, and many more.
6 Why should businesses choose GLA as the unit to support company establishment in Singapore?
With over 10 years of experience successfully supporting hundreds of businesses to open companies in Singapore, GLA understands what businesses need and will support businesses on their journey to international expansion with a complete, reputable, and professional Singapore company establishment service package.
7 What is a Singapore Certificate of Incorporation?
The Singapore Certificate of Incorporation is a legal document issued by the Accounting and Corporate Regulatory Authority (ACRA). The certificate is proof that the company has been registered and incorporated in Singapore.
For more details, the Company can refer to the article: Singapore Company Registration Certificate
8 How many lines of business does a Singapore company license allow?
Company owners will be required to declare up to two main business activities when choosing to open a company in Singapore. The business activities can be selected from the Singapore Standard Industrial Classification (SSIC) list, which is managed and issued by the Singapore Enterprise Authority and the Singapore Department of Statistics.
Regardless of the two main activities chosen, Singapore companies are free to conduct business activities of a nature other than those stated in the license as long as they are not prohibited or regulated by law. However, the Company should still choose an SSIC code that accurately describes the company's main activities.
9 What is the Singapore company business registration address?
The registered office address is the valid address registered with ACRA upon incorporation of the company. This is the official address of the company, the address where the Singapore company conducts its business and receives all communications, official government notices and is also where the Singapore company register and records are kept.
10 What is the role of a Singapore company secretary?
A Singapore company secretary is a requirement when opening a Singapore company. The company secretary's job is to ensure that the Singapore company operates smoothly and complies with Singapore government regulations and laws such as filing annual reports, managing the company's legal system, updating and complying with the latest legal regulations, etc.
For more information, please refer to the article: Singapore Company Secretary
11What is the role of a Singapore nominee director?
A Singapore nominee director is a mandatory requirement for Singapore company formation under the Singapore Companies Act. The nominee director will be the legal representative of the Singapore company. The nominee director does not interfere in the business operations or make decisions for the Singapore company.
The Nominee Director’s role is to ensure the company complies with regulations and assist in case of closure. They also serve as the main contact point for ACRA and other government agencies if the foreign director is unavailable.
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