Singapore Incorporation Incentives

Healy Consultants has helped hundreds of clients complete their Singapore company registration. One Singapore government department, Enterprise One, has the specific aim of sparking enterprise and creating Singapore company incorporation incentives for entrepreneurs. Following is information for entrepreneurs interested in the various Singapore government incentives, grants and other benefits available from Enterprise One for Singapore incorporation:

There are many benefits available specifically for start-ups in Singapore, in the form of grants, tax incentives and equity financing in order to encourage incorporation. The Singapore government is highly supportive of enterprise and wishes to instill entrepreneurial drive in the country.

Examples of grants available for start-ups in Singapore are i) ideas.inc Business Challenge, that provides up to S$65,000 of funding as well as mentorship, for young entrepreneurs to advertise and innovate their business and idea ii) Young Entrepreneurs Scheme for Start-Ups, that provides up to S$50,000 given a 20% personal investment (i.e. S$4 granted for every S$1 invested)

Tax incentives available for start-ups in Singapore are i) R&D Incentive for Start-Up Enterprises (RISE) Scheme, that provides up to S$20,250 to companies spending at least S$150,000 in research and development in the first 3 years of business ii) Tax exemption for start-ups, giving 0% tax on the first S$100,000 of income in the first 3 years of business and 50% tax exemption on the next S$200,000 of income.

Equity financing available for start-ups in Singapore are i) Business Angel Funds (BAF), providing S$2 investment from SPRING SEEDS capital for every S$1 investment from a recognized Business Angel Group up to a maximum of S$1.5 million from SPRING SEEDS ii) Early Stage Venture Funding Scheme (ESVF), that provides up to S$10 million by giving S$1 from the National Research Foundation (NRF) for every S$1 invested by a third party investor - for technology start-ups only iii) Spring Start-Up Enterprise Development Scheme (SPRING SEEDS), that provides S$1 for every S$1 invested, up to a maximum of S$1 million, in the funding of creating new and better products, processes and applications.

Following is a summary of business surveys highlighting Singapore's recognition as a leading international business hub.

There are several other tax incentives available to firms in Singapore, that may also be of interest to start-ups.

Singapore is recognized as a hub for foreign direct investment, and foreign companies play a major role in the Singapore economy. Singapore's Enterprise One puts a strong emphasis on having regional or international company headquarters in Singapore, and various tax incentives are available specifically for foreign firms. i) Regional Headquarters Award ii) International Headquarters Award

Goods traders and manufacturers are important to the Singapore economy and an extensive selection of tax incentives are available on the Enterprise One website. These include the i) Zero GST Warehouse Scheme, ii) Excise Factory Scheme, iii) Major Exporter Scheme, among others.

Singapore prides itself on being a center for innovation, and the Singapore government supports this through Enterprise One with various tax incentives for product development and innovation. These include the i) Investment Allowance, ii) Pioneer Incentive (PC-M or PC-S), iii) Research and Development Tax Allowance (RDA) Scheme, among others listed on Enterprise One's website.

For additional information on Singapore incorporation incentives, email email@healyconsultants.com or call us in Singapore at (+65) 6735 0120.