The Groundwork Before Incorporation in Singapore

There is a belief among foreign entrepreneurs that the best destination for business is Singapore. Singapore is also considered the best place to live in because of the quality of life there. All the advancements in technology are present in Singapore. Moreover, when it comes to comforts, tourists, foreign entrepreneurs, as well as the residents are cherished. They have all the facilities needed to live. Singapore has a good growth in its GDP which resumed being one of the fastest growing economies worldwide. For this specific reason, businessmen are keen to start a Singapore company and discover the first class business operation in Singapore.

The very first attraction of company incorporation in Singapore is the tax benefit obtained. New companies do not pay for any tax on their initial S$100,000 of annual income for the foremost three successive years. Moreover, there is another 50% exemptions for S$200,000 from the chargeable revenue.

The second one is about the requirements needed for Singapore company registration, which looks difficult on paper, but it is not the case, because of the very structured way of working of the Singaporean government.

The applicants should act in accordance to:
•Have a minimum one shareholder, one company secretary and one director who is a resident.
•Pay at least a primary paid-up share capital of S$1
•Need a proper address so that the Singapore office is properly registered.

There are some other requirements also which need to be filled such as:

• Register the company via ACRA before incorporation happens. Note that the name for your company should be unique.
• Atleast one if the director should be a resident in Singapore. Even if he is a foreigner it does not matter as long as he has the required pass.
• A minimum of one shareholder is needed and the director can be the same person too. You can have till 50 of them.
• The secretary should be a local in Singapore and he should be appointed within 6 months of Incorporation in Singapore.

Hence, following all this properly, you properly will be properly set up.

Rules to Follow for Singapore Company Incorporation

The most asked question is who can incorporate a company in Singapore. If you are over 18, you can do it. Actually, no specific age is required, except that you need to be over 18. Also, there are some others factors like:

• The person should be residing in Singapore (a local)
• Someone who is staying in Singapore or it can be someone from another country having a local address.
• When it comes to foreigners, they should have a pass, either Employment pass, dependent one or Entrepreneur pass.

So, these people are eligible for Singapore company incorporation.
In addition to what is said before note that the director should not have been bankrupt in the past or been involved in any dishonest practice.

There are several other requirements which need to be fulfilled in order to have successful company incorporation in Singapore.

• Shareholder (s)
•  A director
•   A secretary

Keep in mind that the director and the shareholder can be the same person. However, it is advised to have a separate shareholder because most of the time, financial institutions need two signatures. The company secretary should be a native of the country and should be appointed within 6 months of incorporation.
When it come to the name of the company, make sure it is unique. If it is not, it will be rejected. Singapore Standard Industrial Classification (SSIC) needs to be supplied too. Also, the company should have an address, a local one.

For the regulation of businesses in Singapore, it is the Accounting and Corporate Regulatory Authority (ACRA) which is responsible.

At the end of the day, to make this successful, what is needed is only to follow everything properly. When it comes to foreigners, it is better to appoint a service provider which will guide you all the way.

Service Providers Facilitates the Incorporation in Singapore

Your tax filling is killing you? And you feel like banging your head against the door? Now come the phase: to whom do I go for help? Well, there is nothing to worry about. Impossible is nothing. The one choice you have is: incorporate a Singapore company to benefit low taxes and even tax exemptions. The best part is that there are service providers who can guide you through this.

It is all about hiring an experienced service provider. The law itself says that you need someone in the process because you cannot self-register. You need to be sure about them though because if they are not experienced enough and they miss out on some papers, obviously this will result in the failure of your company. When you hire one, it will all work on the trust factor. They know best about the taxation and can guide you thoroughly in what kind of business activities you should indulge in.


The same tax provider can help you with all the necessary documents and any other information. If you had to do this all by yourself, you will be running here and there for everything. This can have a bad impact on your life. Hence, these providers will facilitate your life. In this way, your personal as well as professional life is balanced.

 The one main worry of anyone incorporation a company in Singapore is any financial deficits. There can even some monetary troubles which can give a halt to your business activities. Incorporation in Singapore should hence be prepared for duty preparation which means that being stuck in any monetary crisis is out of question.

To benefit low tax or tax exemptions for Singapore incorporation it is necessary to hire the trustful and experienced service provider because he will be the one who will be guiding you through the whole processes as well as documentations.