Full Singapore corporate structure comparison

SummaryTax resident LLCTax exempt LLCFast solution LLCFree zone LLCPLCLLPRepresentative officeBranch officeTrust
Best use of company?All purposesTrading/ holdingClose a customer
deal now
Global tradingSGX listingProfessional
services
Marketing &
research
Consolidate
losses
Tax planning
How soon can you invoice Clients/sign sales contracts?1 week1 week1 week1 week1 week1 week1 week1 weekNo
How soon can you hire staff?1 week1 week1 week1 week1 week1 week1 week1 weekNo
How soon can you sign a lease agreement?1 week1 week1 week1 week1 week1 week1 week1 weekNo
Travel required for business setup?NoNoNoNoNoNoNoNoNo
Travel required for bank account opening?NoNoNoNoNoNoNoNoNo
Corporate tax rate on annual net profits?17%0%17%17%17%0%0%17%0%
Legally tax exempt if properly structured?NoYesNoNoNoYesYesNoYes
Government grants available?YesNoYesYesYesYesNoYesNo
Resident director/partner/manager required?YesYesYesYesYesYesYesYesNo
Minimum paid up share capital?US$1US$1US$1US$1US$1US$1US$1US$1None
Can bid for Government contracts?YesNoYesYesYesNoNoYesNo
Corporate bank account location?DBS SingaporeSwitzerlandOCBC SingaporeUOB SingaporeCitibank SingaporeDBS SingaporeSBI SingaporeSCB SingaporeOCBC Singapore
Can secure trade finance?YesNoYesYesYesNoNoYesNo
Limited liability entity?YesYesYesYesYesYesNoNoYes
Average total engagement costs?US$8,980US$8,940US$11,560US$8,790US$6,980US$6,980US$6,800US$8,750US$25,000
Average total engagement period?9 weeks9 weeks14 weeks9 weeks9 weeks9 weeks9 weeks9 weeks4 weeks
Accounting and tax considerationsTax resident LLCTax exempt LLCFast solution LLCFree zone LLCPLCLLPRepresentative officeBranch officeTrust
Must file an annual tax return?YesYesYesYesYesNoNoYesNo
Access to double taxation treaties?YesNoYesYesYesYesNoYesNo
This entity enjoys Government incentives?YesNoYesYesYesYesNoYesNo
Company registrationTax resident LLCTax exempt LLCFast solution LLCFree zone LLCPLCLLPRepresentative officeBranch officeTrust
Minimum number of shareholders/partners?111112Parent companyParent company0
Maximum shareholding for foreigners?11111111None
Minimum number of directors/managers?11111111None
Minimum statutory paid up share capital?US$1US$1US$1US$1US$1US$1NoneNoneNone
Shelf companies available?YesYesYesNoYesNoNoNoNo
Time to incorporate a new entity?1 week1 week1 week1 week1 week1 week1 week1 weekNone
Can easily convert to a PLC?YesNoYesNoYesNoNoNoNo
Public register of shareholders and directors?YesYesYesYesYesYesYesYesNo
Can have preference shareholders?YesYesNoNoYesNoNoNoNo
Business considerationsTax resident LLCTax exempt LLCFast solution LLCFree zone LLCPLCLLPRepresentative officeBranch officeTrust
Can invoice customers in your company name?YesYesYesYesYesYesYesYesNo
Restrictions on nature of business activitiesNoYesNoYesNoNoYesNoYes
Company can hire local staff?YesNoYesYesYesYesYesYesNo
Maximum number of staff allowed?No limitNo limitNo limitNo limitNo limitNo limitNo limitNo limitNone
Good entity for trademark registration?YesYesYesYesYesNoNoNoNo
Can secure an import and export license?YesNoYesYesYesYesNoYesNo
Other useful information 
What will be included in my customer sales invoice?(click link)
This country has signed free trade agreements?Yes
This country is a member of WIPO/TRIPS?Yes
This country is a member of the ICSID?Yes
Average customs duties suffered?0
Government foreign investment approval required?No
Average monthly office rental? (US$ per sq m)37
Minimum statutory annual salary?None
Average monthly US$ salary for local skilled employees?US$3,800
S$ deposit interest rate? (1 year average)0.004
US$ deposit interest rate? (1 year average)0.001
Overseas remittance currency controls?None
Banking considerations
Multi-currency bank accounts available?Yes
Corporate visa debit cards available?No
Quality of e-banking platform?Excellent
Crowd funding available in this country?Yes
Can be wholly foreign owned?YesYesYesYesYesYesYesYesYes
Government approval required for foreign owners?NoNoNoNoNoNoNoNoNo
Temporary physical office solutions available?YesYesYesYesYesYesYesYesNo
You need a local resident as bank signatory?NoNoNoNoNoNoNoNoNo
GST payable on sales to local customers?7%0%7%0%7%7%0%7%None
Withholding tax on payments to shareholders?0%0%0%0%0%0%0%0%None
Group HQ tax incentives?YesNoYesYesYesNoNoNoNone
Must file annual financial statements?YesYesYesYesYesNoNoYesNo
Must appoint an auditor?NoNoNoNoYesNoNoNoNo
Withholding tax on payments to parent company?0%0%0%0%0%0%0%0%None
Monthly GST reporting to the Government?YesNoYesYesYesYesNoYesNone
Dividends received are legally tax exempt?YesYesYesYesYesYesYesYesYes
Security deposit to be kept with Government?NoNoNoNoNoNoNoNoNo
Must sign an office lease agreement?NoNoNoNoNoNoNoNoNo
Shareholders and directors documents to be attested?NoNoNoNoNoNoNoNoNo
Foreign director needs a tax number?NoNoNoNoNoNoNoNoNo
Foreign director needs a residence visa?NoNoNoNoNoNoNoNoNo
Shareholders and directors documents to be translated?NoNoNoNoNoNoNoNoNo
The entity will likely be regulated by?ACRAACRAACRAACRAACRAACRAACRAACRANone
Sponsorship by a local citizen required?NoNoNoNoNoNoNoNoNo
Expatriate to local staff ratio?NoneNoneNoneNoneNoneNoneNoneNoneNone
Company can rent local office space?YesNoYesYesYesYesYesYesNo
Can secure residence visa for business owner?YesNoYesYesYesYesYesYesNo

Contact us

For additional information on our business registration services in Singapore, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi
singapore business federation Singapore Ministry of Manpower (MOM) Institute of Singapore chartered accountant (ISCA) Institute of Singapore chartered accountant (ISCA) saicsa icsa - institute of chartered secretaries and administrators SIngapore exchange ltd - The Asian Gateway | SGX