Singapore company registration – mockup

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Singapore Company Registration

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For over a decade, Healy Consultants has been efficiently and effectively assisting our Clients with i) business registration ii) business licensing iii) Singapore business banking solutions iv) visa options and staff recruitment strategies and v) workspace 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

Frequently asked questions

Download the full Singapore country report here