ADVANTAGES OF COMPANY FORMATION IN SINGAPORE

Singapore is known for its professional business environment and offers huge progression opportunities to the investors. It is estimated to be one of the few countries in the world where business can be set up with ease and at the same time, the owners can garner significant revenues. Following are the advantages of company formation in Singapore.

  • Strategic Location

    Its strategic location ensures top-notch connectivity. Singapore’s port is one of the busiest in the world, and the country is characterised as a prime International Maritime Centre.
  • Ideal Place for Global Trade and Commerce

    Singapore is located at the heart of the Asia Pacific region, which makes this area an ideal destination for international companies planning to tap major Asian markets including Taiwan, India, China, Malaysia and even Australia.
  • Outstanding Tax Benefits

    Tax resident status can be enjoyed by foreign companies who set up a Singapore subsidiary company. In other words, they can avail the benefits of tax incentives and exemptions exclusive to local businesses. A newly incorporated parent Company, with at least one individual shareholder that has a minimum of 10% shareholdings, is entitled to the local tax exemption of zero tax for the first S$ 100,000 of its chargeable income.
  • Flexible Immigration Policies

    The Singapore government provides several tax incentives to certain foreign companies to attract more companies to set up their business operations from Singapore. It also offers long-lasting competitive benefits. Thus, there is an extensive list of foreign investors lined up to set up their Business in Asian Market.

REQUIREMENT TO OPEN A COMPANY

BASIC REQUIREMENTS

  • Minimum 1 Shareholder (Individual/Corporate Entity)
  • 1 Resident Director
  • 1 Company Secretary
  • Minimum Paid-up Capital of S$1
  • A local registered office address
  • A Director or Shareholder can be the same or different person
  • 100% local or foreign shareholdings is also allowed
  • Maximum 50 Shareholders for a private limited company
  • Director must be a resident of a country or must own an Entrepreneur Pass or a Dependent / Employment Pass.

DOCUMENTS REQUIRED

  • Name of the business entity
  • A description of the business activities using Singapore Industrial Classification Code (SSIS) 2015 version 2018
  • Shareholders details
  • Director’s details
  • Registered Address Details
  • Company Secretary Details
  • Memorandum & Articles of Association
  • Notarized Passport Copy
  • Professional Reference Letter from Bank
  • Notarised Address Proof (Driving License/Bank Statement/Credit Card Statement)

OUR SERVICES

  • Company Incorporation
  • Nominee Director
  • Company Secretary
  • Registered Office Address
  • Bank Account Opening Assistance
  • Statutory Compliance (if Required)
  • Taxation & DTAA Services

TIME PERIOD

If you are making an allowance for entering the Asian market, then S. K. Patodia & Associates is a one-stop solution that will help you to spread your wings in desired business destination. It usually takes 2 working days for setting up a company in Singapore.
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