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Singapore Company Formation

SINGAPORE
Type of Entity: Limited Liability Company
Type of law: Common Law
Shelf company availability: Yes
Incorporation time frame: 1-3 days (Company registration in Singapore is fully digitised by ACRA)
Minimum Government fees: SGD 300 for registration of the company with ACRA
Regular Corporate Income Tax: 17% and; ( 0% foreign income exemption)
Double Tax Treaty access: Yes, Companies have access to 74 tax treaties
Minimum issued share capital : SGD 1 can be issued in any major currency
Minimum paid up share capital on incorporation: SGD 1
Minimum number of Shareholders required: One shareholder is sufficient
Bearer Shares: No (Section 66 of the Companies Act)
Nominee Shareholders Permitted: Yes ( can be either an individual or corporate)
Minimum number of directors: One person, who is locally resident and there is no maximum unless otherwise stated in the constitution
Corporate directors permitted: No
Local directors required: Yes (Local directors are Singapore Citizens, Singapore Permanent Residents, an EntrePass holder or Employment Pass holder issued with such a pass to work in the company concerned and who has a local residential address)
Local meeting required : No (unless stated under the company's constitution, but generally a minimum of once a year)
Company secretary required : Yes ( must appoint a company secretary within 6 months from its incorporation and The position of company secretary must not be vacant for more than 6 months)
General Meetings of Shareholders: Yes
Local Registered office required: Yes
Exchange Control: No
Disclosure of beneficial owner to Company Registrar: Yes (should make the information available to public agencies upon request)
Government register of directors: ACRA Singapore
Annual return: Yes (all Singapore-incorporated companies are required to file annual returns with ACRA to ensure that the company’s information on ACRA’s register is up to date)
Submission of accounts: Yes (prepare year-end Financial Statements that provide a summary of its financial activities during the accounting year
Audit: Yes (by a licensed auditor or a public accountant)
Change of domicile Permitted Yes

We do our best to monitor the compliance of this jurisdiction with the latest international regulations set by OECD and other international institutions and countries.

At any moment, Damalion may decline any customer demand about this jurisdiction, at its sole discretion and without any obligation to provide any reason.

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