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Singapore Company Incorporation Packages & Fees



 

Singapore Company Incorporation Package

  Singapore Company IncorporationAmount of Fees (SGD)
  • Bank Account Opening Documents (E.g. Constitution, BizFile)
  • Government Incorporation Fees
  • Registration with ACRA by payment of ACRA fees
  • Checking of company name availability and reservation of desired name
  • Company Profile/Company Constitution (M&AA)
  • Preparation of Singapore incorporation documents such as M&AA, Form 45, Form 45B etc.
  • Company profile/extract from ACRA with UEN Number
  • Electronic Certificate of Incorporation
  • Minutes of first board meeting
  • Share certificate(s)
  • Preparation of company kit
  • Email Reminders for Government Filing Deadlines
  • Advisory for Tax, GST
699
  Company secretary for First year (Worth S$299)
FREE
  Registered address for First year (Worth S$239)
FREE

*All prices exclusive of 7% GST (Goods and Services Tax) Total Fees

699
 

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Incorporation of Company in Singapore

The Accounting & Corporate Regulatory Authority (ACRA) is the Company Registrar and governs the process to incorporate a company in Singapore. It is as per the Companies Act, Chapter 50.

The incorporation process is straightforward. Both local & foreign entrepreneurs can complete it in 1-3 days & set up their business in Singapore without any hassle.

If you, as a foreigner, cannot self-register a Singapore company and need to appoint a registered filing agent. You also need an Entrepreneur pass to relocate and work in the city-state. Ask your agent for the customised Singapore company registration solutions.

Singapore Business Structures that Gets You Maximum Benefits

Any individual over the age of 18 can form a company in Singapore. Even foreigners can own 100% shares in a company.

In Singapore, you can incorporate the following business structures or entity types for maximising benefits.

  • Private Limited Company (Pte Ltd)
  • Subsidiary Company
  • Branch Office

 

Singapore Company Incorporation Services

Private Limited Company (Pte Ltd)

The local and foreign individuals prefer to incorporate a private limited company in Singapore. It is a tax-efficient and dynamic structure most suitable for business growth.

  • It can have 1-50 shareholders.
  • At least one director must be ordinarily resident (Singapore citizens, Permanent Resident, or an Entrepass holder).
  • Singapore corporate income tax is in the range of 0%-17%.
  • It has a separate legal identity from company shareholders.
  • It has perpetual existence.
  • It is a legal person having rights of a natural person.
  • It can buy or sell property in its name.
  • It can sue or be sued in its name.
  • The company is responsible for its losses or debts.
  • Transfer of ownership of shares is easy.
  • It is credible to investors, financial institutions, suppliers, & customers.

As a tax resident, a private limited company gets all tax benefits and incentives offered by the authorities.

 

Subsidiary Company

The foreign corporate entities can start their business activities by incorporating a Singapore subsidiary company.

  • It has a separate identity from its parent company.
  • The parent company can own 100% shareholding in its Singapore subsidiary.
  • A subsidiary is treated as a local company. It gets the tax benefits, exemptions, and rebates provided by the authorities.
  • A subsidiary is liable for its debts and losses. The parent company’s liability is limited to its share capital.

Subsidiary Company Registration + Employment Pass  – For Quote Contact Us.
 

Branch Office

The foreign companies can also register their branch office in Singapore.

  • The branch office has no separate identity from its foreign parent company.
  • It is taken to be the extension of its parent company.
  • The parent company is liable for its branch’s debts and losses.
  • The management of the Singapore branch office deals with issues regarding shareholding, business activities, and structure by referring to the Memorandum & Articles of Association of the parent company.
  • It is not treated as a local Singapore company. It cannot claim the tax benefits, exemptions, and rebates offered by the local authorities.

Before incorporating your company, discuss your needs with your agent. Because, with the right business structure, you can manage the risk, liability, growth, & branding of business effectively.

 

Key Requirements for Singapore Company Incorporation

You need:

  • Minimum paid-up capital of $1
  • At least one shareholder
  • At least one local or resident director
  • At least one company secretary
  • Registered local address

 

Incorporating a Business in Singapore for Foreigners

Registered Filing Agent: You, as a foreign business owner, can simplify your task by appointing a registered filing agent. A number of Singaporean accounting firms, law firms, or corporate secretarial firms act in this capacity.

Local Director: Most importantly, you need to appoint a local director who is ordinarily resident of Singapore. Singaporeans, Permanent Residents, and EntrePass holders are eligible to act a local director for a new Singapore Company Formation.

Singapore Company Incorporation + Employment Pass  – For Quote Contact Us.

 

3 Steps for Incorporating a Company in Singapore

Step 1: Apply & get your company’s name approved from ACRA

Supply a list of 3-5 names to the agent. They will check them for availability in BizFile+ portal.

For the quick approval of the company name:

  • Choose a unique name that will hint at the nature of your business
  • ACRA rejects names containing vulgar or obscene words
  • It should not violate copyrights or trademarks

If your application gets referred to the higher authorities, the approval can take up to 2 months.

The approved company name is reserved for 60 days. The agent can extend the period by another 60 days by applying to ACRA.

 

Step 2: Prepare incorporation documents

Following is a list of documents that you need to submit at the time of forming a Singapore company.

  • Approved Company name
  • Description of business activities
  • Registered local address
  • Particulars of shareholders, directors, company secretary
  • Foreign Individuals: a copy of passport & proof of residential address (overseas)
  • Foreign Companies: Memorandum & Articles of Associations, Certificate of Incorporation
  • Singapore Residents: A copy of their Singapore identity card

 

Step 3: Submit an application to ACRA

The process to incorporate a company in Singapore is online. Submit your documents to your agent who can visit online portal BizFile+ for the task.

 

Activities After forming Singapore Company

Certificate of Incorporation

After the successful incorporation of the company, ACRA sends an email. It contains the registration number of company, date, etc. The email is good enough as a certificate of incorporation in Singapore. The agent can apply to ACRA for its hard copy.

 

Business Profile

The business profile contains details of the company. It can be downloaded in PDF format after paying a small fee.

  • Company name
  • Registration number
  • Previous names for the company, if any
  • Registration date
  • Principal Business Activities
  • Paid-up capital
  • Registered address
  • Particulars of Shareholders/Directors /Company Secretary

You need a business profile for opening a corporate bank account, signing documents for office lease, subscribing to utilities.

 

Get Licenses and Permits

If your company needs licenses or permits, apply and get them before starting the business activities.

 

Goods and Service Tax (GST) Registration

If you expect to cross S$1 million in annual turnover, register your company for GST.

 

Company Seal & Stamp

The company seal and stamp lends credibility to the documents. You need the company seal if your company constitution says so.

 

Share Certificates

The share certificates are proof of shareholders’ ownership in the company. The company secretary issues them to the shareholders of the company.

 

First Board Resolution

After incorporating a company, its shareholders meet and pass resolutions to hire directors, company secretaries, auditors, etc.

 

Tips for Singapore Company’s Compliance

Accounting: Singapore companies need to keep accounting books in order. It means updating general ledgers, accounts payable and account receivables, or fixed asset ledger, etc. And filing of annual financial statements with ACRA in XBRL format.

Annual General Meeting: Every company must convey its AGM in every calendar year and table its financial statements for the shareholder’s scrutiny.

Annual Returns Filing: It must file Annual Returns with a month of its AGM.

Corporate Tax: The due dates of company tax filing are 30 November (paper-filing) and 15 December (e-filing).

Determine Financial Year: The company can choose any month to start its financial year.

SBS Consulting Pte Ltd is a reliable registered filing agent. We assist our clients in incorporating a company in Singapore. If you have any queries about it, call us on +65 6536 0036 or send an email at info@sbsgroup.com.sg to know more.

Anyone over the age of 18 years can set up a Singapore company and be its shareholder (owner). As a shareholder, you have the right to appoint a local director (employee).

Unlike Singapore citizens and its Permanent Residents who can incorporate a company and act as its local or resident director (employee), Foreigners need a work pass like Entrepreneur Pass to act in this capacity. With the pass, you can relocate and work in Singapore. You can apply to the Ministry of Manpower & get this pass.

Foreigners who don't have work pass can choose to appoint a nominee director, an individual who is ordinarily resident of Singapore to act as your local director. It is essential to have at least one to complete the process successfully.

*Being a shareholder (owner) of a company and working for it as a local director (an employee) are two different things.

The Employment Pass, Dependent, and other pass holders can also set up a company and be its shareholder. However, they need to appoint a nominee director to complete the registration process. They cannot act as its resident director or take any other position in it as its employee.

Basic cost of company incorporation with ACRA involves two things, company name application (S$15) and the Singapore company registration fees (S$300).

However, it goes higher if you consider other mandatory requirements like Company Secretary, Registered Address, etc.

Understanding the need SBS Consulting Pte Ltd offer a cost-effective package of S$699* which covers the ACRA fees for the company name application (S$15) and the Singapore company registration fees (S$300).

Our cost of S$699* coverts FREE Company Secretary (worth S$299*) and FREE Registered Address (worth S$239*) for 1 year. It also offers free assistance for the opening of a corporate bank account in the name of your private limited company.

*Our fees are transparent without any hidden costs.

As a leader in the industry, we provide quality assistance to locals & foreign individuals & companies. We extend our end-to-end support to the clients for completing all the requirements of Singapore company formation

Time to Incorporate a Company in Singapore is the time required to complete two procedures:

  1. Company Name Approval from ACRA: You need to take approval for the name of your proposed company from ACRA. The agency wants to maintain uniqueness in the company names to avoid the confusion in the minds of investors. You need to provide us with a list of names which we check against the ACRA database and register the available one for your use. If the given name is available, it takes only 15 mins to reserve the name.
  2. Application to ACRA for Company Setup: It actually takes only 1-3 days for the successful incorporation of the company. However, if the application gets referred to the higher authorities, you may need to wait for it up to 2 months.
*All prices exclusive of 7% GST (Goods and Services Tax)

*I want to register:

Private Limited CompanySubsidiary CompanySole ProprietorshipBranch OfficeLimited Liability Partnership (LLP)Representative Office

*Register with:

I've Resident Director (Save 1,500)Employment PassEnterPassNominee Director






*All prices exclusive of 7% GST (Goods and Services Tax)

Please feel free to contact us on +65 6536 0036 or drop in an email at info@sbsgroup.com.sg

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Company RegistrationAccounting ServicesTaxation ServicesCorporate SecretarialAuditing ServicesPayroll ServicesBookkeeping ServicesVisas and Passes ServicesXBRL Filing