Conditions for registering a company in Singapore

Characteristics of Singaporean companies with limited liability (limited).

  • Company with 100% foreign capital investment in Singapore;
  • Minimum registered capital: 1 Singapore dollar (without specifying the nominal value of shares).
  • Requirements for company formation: 1 shareholder and 1 director who must be a Singapore resident (i.e., a nominal service).
  • For private companies, a tax rate of 4.25% is applied to the first S$100,000 of chargeable income, and half of the standard rate is applied to the next S$200,000 of income.
  • The standard tax rate of 17% applies to profits exceeding S$300,000 per year. 
  • Possibility to obtain exemption from mandatory audit (subject to several conditions); otherwise, audit is mandatory. 
  •  Territorial taxation principle: if the company's management is outside Singapore, profits from foreign sources are not taxed in Singapore if they are not remitted to Singapore.
  •   The company must have a registered address and a resident secretary living in Singapore (nominal service).

Service prices:

Company registration and first year of operation - 5500 euros;

Annual company renewal (paid after one year) - 4100 euros;

Opening an account in one of the specified banks - 2500 euros;

Payment system - 1500 euros;

Virtual office - from 300 euros/month;

Formalization of necessary company documents (Certificate of Good Standing; Incumbency) - 1300 euros per document (the certificate shows that the company is operating and has no debts).

Nominal service depends on the selected service (calculated annually).

Nominal director (bank account not included in the service) - 2250 euros;

Nominal director and bank account in Singapore - 3750 euros;

Nominal director and bank account abroad - 7500 euros.

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