Streamlined company incorporation in Singapore
BoardRoom’s premium company incorporation services walk you through the entire process with maximum ease and efficiency. Our aim is to set you up for success; we ensure your new entity complies with all local regulatory requirements in Singapore, so you can concentrate on establishing a secure presence in the region. By providing tailored advice, we ensure that your business is maximising improvement opportunities and tax incentives from the outset.
To help you capture every advantage Singapore has to offer, we can help you establish a:
- private limited company;
- branch office;
- partnership;
- sole proprietorship;
- public company (50+ shareholders required);
- representative office (a non-taxable, temporary legal entity); or
- variable capital company.
Establish a strong presence in Singapore
For ambitious entrepreneurs and business leaders looking to expand, Singapore is a popular location to set up a company due to its:
- #7 2022 Global Innovation Index ranking for innovation performance;
- #3 IMD World Competitiveness Ranking 2022 ranking for economic competitiveness;
- official language being English, which makes it easy for many foreign investors to conduct business;
- comparatively low tax rate of 17% on chargeable income for local and foreign companies;
- Avoidance of Double Taxation Agreements with about 90 jurisdictions, meaning you will get relief from double taxation on the same earnings;
- single-tier corporate tax system, meaning post-tax profits can be distributed to shareholders tax-free;
- no local shareholder requirement, meaning your entity can be 100% foreign-owned;
- lack of a share capital requirement, meaning you can register a business with just SGD 1.00; and
- wide range of business support and incentive schemes for start-ups and certain industries e.g. tax incentive schemes offered via Enterprise Singapore and the Economic Development Board.
With these facts in mind, it is not surprising that the World Bank consistently rates Singapore as the best country in Asia – and the second-best nation in the world – in which to do business.
BoardRoom’s company incorporation services
The incorporation requirements and post-incorporation obligations for Singapore entities differ depending on the type of company you choose to establish, as do the associated costs.
Our company registration team in Singapore provides tailored advice to ensure your decisions align with your short- and long-term business objectives. They will assist you through each step of the incorporation process.
01 Choosing the best company type
To help you choose the right type of company to establish, we begin by assessing:
We then review the regulatory implications of your existing entities and render advice from a tax efficiency and compliance perspective. Depending on your goals, you might choose to form a trading company or an investment holding company.
Our team also provides specialist tax advice at this stage. For example:
02 Preparation for incorporation
In this phase, we work closely with you to complete the incorporation process, ensuring you meet all statutory requirements relating to company registration in Singapore.
We can help you:
- select a unique business name, reserve the name with the Accounting and Corporate Regulatory Authority (ACRA) and handle the appeal process if your name is rejected;
- Nominate a local resident director (BoardRoom provides nominee director services to help fulfil this requirement);
- establish a registered address (if you do not yet have a local office space, BoardRoom can provide one);
- prepare incorporation documents;
- complete the Know Your Customer (KYC) documents.
When you have provided the necessary information and have fully satisfied all eligibility requirements for the incorporation of a company in Singapore, online company incorporation usually takes about 1–5 business days.
03 Support after incorporation
Once the company registration is complete, we help you perform a range of administrative tasks to ensure your regulatory obligations are met.
We can help you:
If you wish to convert your business into a public-listed company, we also assist with initial public offering (IPO) applications. Our close connection with the Singapore Stock Exchange means we can advise you on the listing pathways available (e.g. Mainboard, Catalist, secondary listings and special purpose acquisition vehicles (SPAC)).
BoardRoom can also assist with string off applications and members’ voluntary liquidation should you decide to exit Singapore. In Singapore, any capital gains you make through your divestment will not be subject to tax.
YOUR POINT OF CONTACT
Samantha Tai
Managing Director Asia, Corporate Secretarial
Frequently Asked Questions (FAQs)
1. How do I set up a company in Singapore?
There are several steps that need to be followed when setting up a company in Singapore. First and foremost, you will need to choose a company name and decide what type of company you want to establish. Options include an exempt private company, private company limited by shares, public company limited by shares, public company limited by guarantee, unlimited private company, unlimited exempt private company, or unlimited public company.
From there, you need to decide when your financial year ends and determine what you need to file every year. On top of that, it is essential to appoint company directors, secretaries and other key personnel while also working out the share capital and the shareholders within the business. A registered office address and constitution will also need to be provided.
More details about company incorporation in Singapore can be found here.
This process can be a lengthy one, but with the help of BoardRoom, it becomes much quicker, convenient and seamless. Contact us should you have any queries or require assistance or advisory services for company registration and incorporation in Singapore.
2. What do I need to incorporate a company in Singapore?
Incorporating or registering a business in Singapore can be a relatively straightforward process. However, the degree of complexity will largely depend on your company structure and intention.
You will need to make decisions on the following:
- Company Name
- Type of Business Activity
- Appointing Directors, Company Secretary and Other Key Personnel
- Share Structure
- Registered Office Address
- Company Constitution
- Financial Year End
For these reasons and more, many companies choose to outsource their company registration to a firm like BoardRoom.
3. How much does it cost to open a company in Singapore?
The basic company registration fee in Singapore is $300, however, there are several other charges that you will need to pay and take note of prior to the completion of the set-up process. A full list of company-related fees can be found here.
To ensure a fuss-free company set up and registration process, BoardRoom is committed to walk you through the incorporation procedure from start to finish, so that you can hit the ground running when your application is approved by Singapore’s Accounting and Corporate Regulatory Authority (ACRA).
4. What are the requirements to register or incorporate a company in Singapore?
Singapore’s company registration process consists of six key requirements.
- The business must have between 1 and 50 shareholders. In Singapore, 100% of the company can be owned by foreign shareholders.
- A share capital minimum of $1 is needed to set up a company in Singapore
- Company directors must be named. Directors can be both Singapore citizens and foreigners, but at least one must be a Singapore resident.
- A company secretary must be appointed within six months of the incorporation date.
- A registered address in Singapore must be provided, and it must be where the company keeps all its statutory documents. This means the address provided during the company registration process cannot be a PO box.
- Lastly, a company name that has been pre-approved by Accounting and Corporate Regulatory Authority (“ACRA”) to be given.
5. How to start a company in Singapore for foreigners?
Foreigners can open a company in Singapore almost as easily as a Singapore resident can with minor differences. It is important to note that foreigners must appoint a local Singaporean director and work closely with a registered filing agent to register their company.
Another challenge is in setting it up correctly – especially as a foreigner without any understanding of the tax and legal systems. This is why many foreigners who set up a business in Singapore choose to do so with the help of a corporate secretarial firm, like BoardRoom.
6. Why should you choose BoardRoom as your preferred incorporation service provider?
Company incorporation can be a lengthy and complicated process in Singapore as there are many steps to take before the registration procedure is complete. BoardRoom has a team of professional and knowledgeable staff with plenty of experience in helping people set up their businesses in the country.
Get the assistance you need during the set-up, registration and incorporation phases while also ensuring every step you take is in accordance with legal and regulatory requirements. BoardRoom is committed to being there with you from start to finish and providing peace of mind assisting in every way possible during the set-up of your company in Singapore.