Singapore Company Formation

Singapore company formation is the most attractive, tax-efficient corporate structure in the world to conduct international business. The following points will assist your Firm decide whether Singapore company incorporation is the optimum corporate solution to fulfill your international business objectives. Further information can be found in our Singapore company registration guide.

Due to the positive image of a Singapore company, Singapore company formation is an excellent corporate vehicle to promote to customers, suppliers, investors, venture capitalists, governments and banks. Global international surveys confirm positive perceptions about Singapore. These comparisons of jurisdictions around the globe, by respected organisations, help to demonstrate the potential of company incorporation in Singapore and provide Singapore incorporation incentives for entrepreneurs.

If properly structured, a Singapore company can be legally tax exempt, as outlined by the Inland Revenue Authority of Singapore. For onshore profits, S$200,000 (approximately US$156,000) of corporate profits earned in Singapore can be legally tax-exempt for the first three years of business trading. These benefits make Singapore company formation a secure long-term solution compared to jurisdictions such as the British Virgin Islands or Cayman Islands. To highlight Singapore's tax advantages, private companies voted Singapore as the state with the least burdensome taxes in the world, according to a survey by Grant Thornton International.

A Singapore company is not perceived as an offshore company in a tax haven. Singapore is a reputable, highly regulated, global trading jurisdiction. Singapore is ranked the 5th least corrupt country in the 2011 Corruption Perceptions Index by Transparency International. This survey is a measure of corruption amongst public officials and politicians in 178 nations.

Interview with Aidan Healy on Singapore Company Registration.

After Singapore corporate formation, an annual statutory financial audit is not required if corporate turnover/sales is less than S$5 million (US$3.87 million). Furthermore a Singapore company is obliged to register for goods & services tax (GST) if annual sales exceed S$1 million (US$774,000). GST registration by a non-resident Singapore company enjoys GST refunds from the Singapore government.

Unlike jurisdictions such as Dubai, it is not necessary to rent a physical office to incorporate a company in Singapore. Healy Consultants offers a full Singapore virtual office service, from short-term Singapore office rental to daily telephone answering and mail forwarding services.

To counter the effects of the global economic downturn, the Singapore government offers a range of incentives and initiatives to assist investors choosing Singapore company registration. Ask Healy Consultants to learn more about the different Government incentives for Singapore company incorporation.

Singapore company formation is popular with foreign investors, and multi-national companies, setting up regional or global headquarters. As a global private banking and wealth management hub, Singapore is rapidly becoming the preferred financial services centre and an attractive place to live for the world's wealthy. Singapore is the most proficient English speaking country in Asia, thus a strategic advantage for western companies.

Singapore has tax treaties with approximately 86 countries, minimizing withholding tax on funds transfers between countries Singapore is also a member of ASEAN meaning free trade access (such as no import duty) with Indonesia, Malaysia, the Philippines, Thailand, Brunei, Burma, Cambodia, Laos and Vietnam.

Singapore is an excellent location to register intellectual property (IP), including global trademarks and patents. Singapore is a signatory to international conventions including the World Trade Organisation's (WTO) Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS), which helps protect against IP rights infringements. Healy Consultants assists clients to complete Singapore, and international, trademark registration.

Investors undertaking Singapore company formation are attracted by a high standard of living. According to the 2010 Quality of Living Survey by Mercer Human Resources, Singapore offers the highest standards of living in Asia. For clients relocating to Singapore, Healy Consultants assists in obtaining employment and residence visas.

Because so many international companies wish to designate Singapore as their Asian headquarters, Singapore is increasingly becoming an expensive city to base a business. A rise in property prices is just one factor contributing to Singapore's 11th position in the latest Mercer Human Resources' global Cost of Living Survey. As a services and export-based economy Singapore is vulnerable to i) high global oil and food prices and ii) the health of the global economy.

Setting Up Your Business In Singapore

More detailed information re setting up a company in Singapore is located in the menu on the top left corner of this page. In addition, the Singapore company articles contain a range of detailed information related to Singapore company formation. Not only procedural aspects of registering a company in Singapore but also key elements for entrepreneurs to consider when setting up a business, such as laws, culture, customs and lifestyle.

Contact Us

For more information on Singapore company registration, contact email@healyconsultants.com or telephone us in Singapore at (+65) 6735 0120.