Company Registration Singapore
Why you should opt to register a company in Singapore
What Singapore lacks in natural resources it makes up for as one of the hottest destinations for business owners. Its stable government, efficient bureaucracy, pro-business policies and geographical location all come together to make it a potent place for new company registration Singapore.
The ‘Red Dot’ as it is lovingly referred to by its proud citizens offers one of the most conducive business environments to register a company in Singapore. Its progressive tax structure, availability of various tax incentives, grants and rebates as well as the availability of its qualified and multi-lingual workforce are also part of its USPs.
Register company in Singapore
You can easily register your Singapore (Pte Ltd) or Private Limited company with ACRA for only S$699. This cost includes government fees and gets you a free company secretary service worth S$299 and a free registered office address worth S$239 for your first year of business. Let our incorporation experts take care of company registration Singapore for you.
What do you get in the package for company incorporation Singapore?
The Accounting and Corporate Regulatory Authority (ACRA) also acts as the Company Registrar, and is the agency the entrepreneurs need to apply to to incorporate a company in Singapore. Singapore incorporation services assist the business owners in taking care of the task.
We offer a cost-effective incorporation package to our clients. At only S$699, the package offers the following services to you:
- Checking of company names availability and reservation of the desired name
- Preparation of Singapore incorporation documents such as M&A/Constitution, Form 45, Form 45B, etc.
- Registration with ACRA by payment of ACRA fees
- Electronic Certificate of Incorporation
- Company profile/extract from ACRA with UEN Number
- Minutes of first board meeting
- Share certificate(s)
- Common seal
- Preparation of company kit
- Bank account opening assistance (FREE for anyone bank in Singapore)
- Assistance in determination of first financial year end of the company to get benefit of full tax exmption
Requirements to incorporate a company in Singapore
- At least one shareholder (maximum 50)
- Minimum initial paid-up capital of S$1
- Minimum one Singapore resident director
- A local registered office address (P.O. Box not valid)
- At least one company secretary
- Company name (Approved by ACRA)
- Memorandum and Articles of Association/Constitution
Timeline and procedure to register company in Singapore
The Singapore incorporation process is hassle-free. It takes a short time to register a company in Singapore, unless the application gets referred to the higher authorities. This may happen when the name of the proposed company contains terms like ‘Bank’ or ‘School’, which delays company registration Singapore and may need 14 days to 2 months to complete the process. Some business domains are watched over by the Singapore authorities.
Business owners need to complete only two procedures to incorporate a company in Singapore:
- Checking company name and getting approval for it from the ACRA is the first step. The agency has the rights to reject a name.
- Applying to ACRA for the company registration Singapore and supplying necessary incorporation documents is the second step.
Checklists for Company Incorporation Singapore
Checklist of pre-registration responsibilities
Save on Incorporation Package
Find a registered incorporation agent offering a company incorporation Singapore package with free services like Company Secretary & Registered Office Address, etc.
Proposed Company Name
Select 3-5 names for the proposed company. The agent will check for the availability of one. Singapore company registrar (ACRA) can reject indecent names.
Get Incorporation & KYC Documents Ready
Put together incorporation and KYC documents of all shareholders and company officials and submit it to your agent.
Checklist for company registration Singapore
Signing Your Incorporation Documents
Visit your incorporation agent. Sign documents for company registration Singapore.
Submitting Application for Company Registration
After getting all details, your agent will then initiate the process with Singapore Company Registrar (ACRA).
After successful registration of your company, ACRA will send incorporation certificate electronically. Its hard copy can be obtained after paying fees.
Checklist for Post-Registration Tasks
Opening of a Corporate Bank Account
Make sure your incorporation agent offers assistance in opening a bank account for your company in a bank in Singapore.
Acquire Business Licenses & Permits
Apply & obtain business licenses and permits before starting your activities.
Starting Business Activities
Before starting business activities, make sure to have a CPF account and to top it up. Check the need of opting for GST registration.
Select a reputed Singapore incorporation service, agent, or corporate service provider as it can really ease the task for you.
Benefits of company incorporation Singapore
The Singapore government has done a great job of establishing a thriving start-up ecosystem for the benefit of budding entrepreneurs. Local company registration Singapore enables access to various grants, which goes a long way in helping businesses in their initial years.
Corporate Income Tax
The corporate income tax in Singapore is a single-tier tax. It works in favor of the investors as the dividends are tax-free. The corporate tax is capped at 17%. Moreover, only the income generated in Singapore is taxed. Singapore start-up companies qualify for tax exemption subject to certain conditions. They, for the first 3 years, enjoy the tax-free taxable net income of up to S$100,000.
Singapore has attracted educated and multilingual professionals to its shores. These motivated individuals have enabled Singapore in consistently maintaining the high standards of performance. A large percentage of these individuals are proficient in English which has played a major part in attracting MNCs to this island nation.
Singapore authorities have invested huge amounts in establishing world-class infrastructure. The entrepreneurs benefit from the reliable communication networks, public transportation, excellent port facilities, air-links to the up and coming regional economies of Asia and more.
Opting to register a company in Singapore gives entrepreneurs an opportunity to base their business near to the growing Asian markets. That is why, every year, a large number of SMEs and MNCs relocate their offices and seek company registration Singapore.
Our Regular Company Incorporation Fees
Private Limited Company
S$699 one time fee
Foreign Subsidiary Company
S$699 one time fee
What Our Clients Say
Mr. Venkat Krishnan
It was a wonderful experience. SBS Consulting assigned a dedicated resource to oversee the registration my Singapore company. They answered all my questions and found solutions to the difficulties. Yes, I am going to recommend them to my friends and associates.
Mr. Jean Lee
It was a pleasure working with accountant assigned to me by SBS Consulting. The firm really delivers what it promises. They took care of the annual filing of my small firm. There was no mistakes and no delays. It was my first interaction with SBS, and I am going to use them again.
Mr. Alan Tan
Recently, I outsourced payroll processing for my business to SBS Consulting. Then, I realized what a stress it was. I was spending too much time on it. For the first payroll (under SBS supervision) I was a bit worried as I did not know whether they will be able to handle it or not. But it just went smooth. No complaints from any of my employees.