Ways of Incorporating a Company in Singapore

While there are a lot of options for foreigners to incorporate a company on various countries

, Singapore remains to this day a popular investment destination due to its competitive tax incentives.

The great thing about Singapore is that new companies are required to pay zero dollars in taxes on the first S$100,000 of chargeable income for the first three consecutive years. Aside from that, there is a 50% tax off on the next S$200,000 of chargeable income.

Foreign investors looking to put up a company in Singapore may form a Sole Proprietorship, a Limited Liability Partnership or a Private Limited Company. And of all the companies incorporated in Singapore, most are incorporated as Private Limited Companies.

Companies or businesses that belong to this classification are registered with the Accounting & Corporate Regulatory Authority (ACRA).

It is necessary for all companies in Singapore to adhere its laws and regulations stipulated in the Singapore Companies Act.Local and foreign entrepreneurs are subject to different terms and regulations as per Singapore Companies Act.Investors can either be individuals, foreign companies, Singapore Residents and offshore companies.

Below are the requirements the companies have to meet before being able to incorporate a Singapore Company.

Directors must meet certain requirements before being appointed by a Private Limited Company. In this regard, the following are the added requirements for a company to be considered as a Singapore Private Limited Company:

1. For a registered business, there should be at a minimum of one shareholder, one resident director and one company secretary.

2. Only at a minimum of $1 paid-up capital is required as a share

3. Office address in Singapore

A foreigner can acquire full ownership of a company in Singapore.Singapore Law however states that companies are required to name at least one director that is a Singapore citizen, a permanent resident, an EntrePass holder, an Employment Pass holder or a Dependants' Pass holder.

Ways of Incorporating a Company in Singapore

By: Nathan Bellevis

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