Singapore Company Formation
Do you want to explore the Singapore company formation options? Here’s how you can start your business ventures.
Singapore is 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 an Employment Pass/Approval-In-Principle letter.
You apply for this permit from the Employment Pass Department of the Ministry of Manpower.
Singapore only requires one director and shareholder for company formation and the entity needs to have a local address and qualified secretary.
Shareholders can be corporations and from any nationality. The company name needs initial approval from the Registry of Companies & Businesses. Following initial approval, the 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 a three-year moratorium on taxable profits