Singapore company registration


Singapore Company Registration

Since 2003, Healy Consultants Group PLC assists our Clients with i) business registration ii) regulatory licensing iii) business banking iv) immigration visas and staff recruitment strategies and v) office rental solutions.

SummaryTax resident LLCTax exempt LLCFree zone LLCLLPRepresentative officeBranch company
Best use of company?Asian headquartersTrading/holding companyInternational tradingProfessional servicesLocal marketing and researchBank branches
Legally tax exempt if properly structured?NoYesNoYesYesNo
Corporate bank account location?HSBCHSBC Hong KongSBISHSBC LondonStandard Chartered BankCitibank
Client must travel to Asia?NoNoNoNoNoNo
Can secure trade finance?YesNoYesNoNoNo
Limited liability entity?YesYesYesYesNoNo
GST payable on sales to local customers7%0%0%7%0%7%
Withholding tax on payments to shareholders?0%0%0%0%0%20%
Average total engagement costs?US$6,980US$7,940US$8,790US$6,980US$6,800US$8,750
Average total engagement period?9 weeks9 weeks10 weeks9 weeks9 weeks9 weeks
Accounting and tax considerationsTax resident LLCTax exempt LLCFree zone LLCLLPRepresentative officeBranch company
Statutory corporation tax payable?17%0%17%0%0%17%
Must file an annual Singapore tax return?YesYesYesNoYesYes
Effective corporation tax rate on net profits of US$ 250,0009%0%9%0%0%17%
Must file annual financial statements?YesYesYesNoYesYes
Investment income is tax exempt in Singapore?YesYesYesYesYesYes
Access to double taxation treaties?YesNoYesYesNoYes
This entity enjoys Government incentives?YesNoYesYesNoYes
Monthly GST reporting to the Government?YesNoYesYesNoYes
Legally tax exempt entity?NoYesNoYesYesNo
Dividends received are legally tax exempt?YesYesYesYesYesYes
Company registrationTax resident LLCTax exempt LLCFree zone LLCLLPRepresentative officeBranch company
Resident director\partner\manager required?YesYesYesYesYesYes
Minimum number of shareholders\partners?1112Parent companyParent company
Minimum number of directors/managers?111111
Minimum paid up share capital?US$1US$1US$1US$1NoneNone
Shelf companies available?YesYesNoNoNoNo
Time to incorporate a new entity?1 week1 week2 weeks1 week1 week1 week
Can easily convert to a local PLC company?YesYesNoNoNoNo
Can have preference shareholders?YesYesNoNoNoNo
Business considerationsTax resident LLCTax exempt LLCFree zone LLCLLPRepresentative officeBranch company
Can invoice local customers?YesNoNoYesNoYes
Can hire local staff?YesNoYesYesYesYes
Can rent local office space?YesNoYesYesYesYes
Secures a residence visa for business owner?YesYesYesNoYesNo
Good entity for trademark registration?YesYesYesNoNoNo
Other useful informationTax resident LLCTax exempt LLCFree zone LLCLLPRepresentative officeBranch company

Singapore has signed free trade agreements?Yes, see this page
This country is a member of WIPO and TRIPS?Yes
The country is a member of the ICSID?Yes
Average customs duties suffered?0%
Government foreign investment approval is required?No
Average monthly office rental? (US$ per sq m)US$37
Minimum statutory annual salary?None
Average monthly US$ salary for local employees?US$2,900
Singapore $ deposit interest rate? (1 year average)0.4%
US$ deposit interest rate? (1 year average)0.1%
Overseas remittance currency controls?None
Public register of shareholders and directors?Yes
Banking considerations
Multi-currency bank accounts available?Yes
Corporate visa debit cards available?Yes
Quality of e-banking platform?Excellent
Crowd funding available in this country?Yes

  • Singapore is an excellent location to set up company headquarters in the Asia Pacific region;
  • Our Clients may choose to establish a tax resident LLC if they wish to transact with local customers. This company will be subject to 17% corporate income tax;
  • Alternatively, our Clients may incorporate a 100% corporate tax exempt LLC with a non-Singapore bank account if they will not transact with local customers;
  • The Singapore government provides a vast number of government grants to new companies;
  • Foreigners setting up a company in Singapore will need to appoint a resident director;
  • Singapore is ranked the most expensive country in the world, an important consideration for new businesses.

Healy Consultants’ video on registering a business in Singapore

Frequently asked questions

Download the full Singapore country report here

Contact us

For additional information on our business registration services in Singapore, please email us at 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