testing page

Languages: 
Singapore company registration

DOING BUSINESS IN SINGAPORE

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 LLCFast solution LLC
Free zone LLCLLP
Best use of company?All purposesTrading/ holdingClose a customerGlobal tradingProfessional services
How soon can you invoice Clients\sign sales contracts?
1 week
1 week
1 week
1 week
1 week
How soon can you hire staff?
1 week
1 week
1 week
1 week
1 week
How soon can you sign a lease agreement?
1 week
1 week
1 week
1 week
1 week
Travel required for business setup?
NoNoNoNoNo
Travel required for bank account opening?
No
NoNo
NoNo
Corporate tax rate on annual net profits?
17%
0%
17%
17%
0%
Legally tax exempt if properly structured?
No
Yes
No
No
Yes
Government grants available?
Yes
No
Yes
Yes
Yes
Resident director/partner/manager required?
Yes
Yes
Yes
Yes
Yes
Minimum paid up share capital?
US$1
US$1
US$1
US$1
US$1
Can bid for Government contracts?
Yes
No
Yes
Yes
No
Corporate bank account location?
DBS SingaporeSwitzerlandOCBC SingaporeUOB SingaporeDBS Singapore
Can secure trade finance?
Yes
No
Yes
Yes
No
Limited liability entity?
Yes
Yes
Yes
Yes
Yes
Average total engagement costs?
US$6,980US$8,940US$11,560US$8,790US$6,980
Average total engagement period?
9 weeks9 weeks14 weeks9 weeks9 weeks
Table 2

Supplier checklistYour Selection
Engagement costing 
sdds
Did I contact local suppliers in the country, including i) 5 lawyers ii) 5 accountants and iii) 5 small local boutique consultants (just like Healy Consultants)?

 

Did my manager approve my excel spreadsheet of cost comparisons from 5 different suppliers?

 

What percentage discount did Client give Healy Consultants?

 

Supplier selection 
Does my preferred supplier timely answer my email requests?

 

What is your specific supplier staff name and cell phone number?

 

Over the coming months, is your specific supplier due to go on extended leave?

 

What is the name and cell phone number of the backup staff of your specific supplier?

 

Did I speak at least once on phone or through skype with my preferred supplier?

 

Does my preferred supplier give accurate and complete answers to my emails requests?

 

Does my preferred supplier provide complete engagement costs?

 

Is my preferred supplier experienced in engineering the specific corporate structure I want?

 

Is the supplier senior partner involved in the engagement?

 

Does my preferred supplier provide all services including bank account, nominee, accounting and tax?

 

Do I have a quality back up supplier ready to go, if my preferred supplier does a poor job?

 

Did the supplier follow us on our blog?

 

Is the supplier a lawyer or accountant?

 

Supplier due diligence 
  
Was my preferred supplier transparent and open to my due diligence request from Healy Consultants?

 

Did I receive at least a i) copy of passport ii) recent proof of address iii) certificate of incorporation and iv) the latest annual return from my supplier?

 

Will your specific supplier contact receive cell phone calls over their weekend (relevant for Middle East)

 

Did I receive evidence that my preferred supplier has a license to conduct his business?

 

My supplier is regulated by what Government body?

 

Did Cai Xin do a due diligence Google review of my preferred supplier?

 

Complete the attached and answer each question re social media linx from supplier

 

Supplier email template

Signature of the exclusive service agreement 
  
Did the supplier complete and sign each page of the service agreement and its appendixes?

 

Did supplier review our country webpage and provide feedback as to how we improve that page?

 

Did the supplier follow us on Facebook?

 

Did I the IT Department add a reciprocal link to supplier business web site?

 

Did Xin review and approve the service agreement?

 

Did my supplier sign off the detailed project plan?

 

Did I request multiple suppliers to sign off the detailed project plan? (for complex engagements only)

 

Did the supplier confirm we can pay i) 100% after the engagement is complete or ii) 50% before and 50% after completion of engagement?

 

   
CRODirectorLegal and Compliance Dept.
Print

Luxembourg fees and timelines page

This is testing page

SummaryWholly foreign owned LLC Fast business setup solutionFree zone LLCLocal nominee owned LLC Representative Office
Also known asPMAPT-PMA conversionKPB companyPTKPPA
Best use of company?All products and servicesClose a customer deal nowManufacturing and export tradingTo secure public fundingMarketing & research
How soon can you invoice Clients/sign sales contracts?3 months6 weeks3 months6 weeksCannot
How soon can you hire staff?3 months6 weeks3 months6 weeks3 months
How soon can you sign a lease agreement?1 week1 week1 week1 week1 week
How long to supply corporate bank account numbers?4 months10 weeks4 months10 weeks4 months
How long to supply company registration/tax numbers?3 months6 weeks3 months6 weeks3 months
Corporate tax rate on annual net profits?25%25%25%25%0%
Limited liability entity?YesYesYesYesNo
Government grants available?YesYesYesYesNo
Government approval required for foreign owners?YesYesYesYesYes
Resident director/partner/manager/ legal representative required?YesYesYesYesYes
Minimum paid up share capital?US$200,000US$40,000 within 2 months and US$200,000 within 1 yearUS$200,000From US$3,745none
Can bid for Government contracts?YesYesYesYesNo
Corporate bank account location?Bank NegaraSCB Indonesia Citibank IndonesiaBank MandiriDBS Indonesia
Can secure trade finance?YesYesYesYesYes
VAT payable on sales to local customers?10%10%10%10%None
Average total business set up engagement costs?US$29,740 US$60,200US$18,100US$16,900US$19,250
Average total engagement period?4 months4 months4 months3 months4 months
—————————————————————————–END—————————————————————————————–

Business entities in Singapore

There are several types of companies our Clients can set up, the most common being the private limited company (LLC), branch office and representative office.Singapore LLCSingapore branch officeSingapore offshore company

New company/
separate entity

Expanding your existing
company (not a separate entity)

Tax-free
entity

  • The private limited company (Pte. Ltd.)

      Singapore company setup requirements for different business entity types
    • The most commonly set-up company in Singapore is the private limited company, which is abbreviated to “Pte. Ltd.”. This company type is functionally equivalent to the LLC in other jurisdictions, with shareholders’ liability being limited to the amount unpaid on their shares;
    • Thanks to the relaxed rules on opening a private limited company, requiring only one shareholder, one director, a company secretary, a registered address and no minimum share capital, foreign investors overwhelmingly favour the Pte. Ltd. when entering the Singaporean market. This entity can engage in any commercial or industrial activity, and there are no restrictions on foreign investment;
    • Singaporean private limited companies may have up to 50 shareholders. If there are likely to be either i) more than 50 shareholders or ii) regular share transfers, then an unlisted public limited company is a better option;
    • This entity can be incorporated within one week without the need for our Clients to visit Singapore or contribute any share capital. However, at least one of the company’s directors must be resident in Singapore.
    • Best uses: General purpose – A private limited company fulfils the needs of almost every application for doing business either within or outside of Singapore. These entities have low administrative requirements and can be turned to almost any use as long as share liquidity is not required. These attributes of the Singapore LLC make it ideally suited for use as a subsidiary or as an entrepreneurial vehicle. The private limited company’s flexibility also means that it can be used in the following ways:

      Special Purpose Vehicle (SPV)

    • SPVs can be used to i) hold designated assets on behalf of its investors while insulating the shareholders from liability and ii) raise funds from the market;
    • Holding company

    • This vehicle is used to hold and manage long-term investments including debt, real estate, and shares in other businesses. Holding companies derive their income primarily from dividends, interest payments and rental fees, depending on the types of assets held;
    • In Singapore, a holding company can be incorporated as a paper company (offshore company) to manage international investments in a tax-efficient manner.
    • Singaporean companies can be used as private wealth vehicles to manage family assets. Visit Healy Consultants’ page on family wealth vehicles to learn more and compare different structures that can be used to run a family office.

Loading map...

Loading

—————————————————————————–END—————————————————————————————–

Contact us

Live chat me