Europe Emirates Group can help you start your business in Singapore
A hugely popular destination for international company formation under the PTE limited liability company format, Singapore has a number of exacting rules in place regarding business registration.
The first requirement is that one director is a Singaporean citizen or a resident with a work permit. If a foreigner wishes to serve as the local director of the company, they will have to apply for and Employment Pass/Approval-In-Principle letter. This is obtained from the Employment Pass Department of the Ministry of Manpower. Only one director and shareholder are required and the company needs to have a local address and qualified secretary.
Shareholders can be corporations and from any nation. The company name needs to initially be approved by the Registry of Companies & Businesses after which documents are sent for incorporation.
The Memorandum and Articles of Association have to be stamped and signed and, following approval of the name, these constitute the major steps in getting a company formed. Fees for registration depend upon a company’s share capital.
- Low corporate tax rate with three-year moratorium on taxable profit