Singapore Corporate Formation

Singapore corporate formation is a secure, tax efficient way to conduct international business. The following is an overview of how Singapore corporate formation can benefit your global business strategies.

Singapore corporate formation has a positive image because Singapore is a well-respected jurisdiction with a stable government, expanding economy and sophisticated infrastructure.

If properly structured, the international income of a Singapore company is legally tax-exempt (see the Inland Revenue Authority of Singapore website). Furthermore, the first S$200,000 (US$132,500) of profits sourced in Singapore can be tax-free for three years following incorporation.

In accordance with Singapore corporate law, every Singapore company requires at least one director ordinarily resident in Singapore.

After Singapore corporate formation, an annual audit is required if turnover or sales exceeds S$5 million (US$3.5 million). Annual accounts must be also submitted to the Inland Revenue Authority of Singapore.

Healy Consultants will open a corporate bank account to support the Singapore company.

Healy Consultants can advise clients on the double taxation agreements Singapore has signed with 58 countries, including Japan, China, Germany, France, the UK and Canada.

Singapore has recently agreed to follow standards set by the Organisation for Economic Cooperation and Development (OECD) members. Singapore still offers beneficial confidentiality law standards.

Following Singapore corporate formation, Healy Consultants can assist our client to register for goods & sales tax (GST), applicable if annual sales exceed S$1 million (US$700,000) in a calendar year.

Healy Consultants will assist clients to obtain Singapore residence and employment visas.

Singapore corporate formation can be used as a Regional Headquarters for Asia. The Singapore government encourages company set up by offering a range of grants and financial incentives through the Singapore Economic Development Board.

Healy Consultants' Singapore corporate formation costs are US$2,100 in Year 1 and US$1,400 from Year 2 onwards.

For more information on Singapore corporate formation, contact email@healyconsultants.com or call us in Singapore at (+65) 6735 0120.