To incorporate a company in Singapore, you must meet the following requirements:
Company name: The company name must be unique and not too similar to the names of existing companies. You can check the availability of company names on the Accounting and Corporate Regulatory Authority (ACRA) website.
Company type: There are several different types of companies in Singapore, including private limited companies, public limited companies, and sole proprietorships. You need to choose the type of company that is most suitable for your business needs.
Directors: At least one director of your company must be a Singapore resident. You can also appoint foreign directors, but they must have a local resident director to act on their behalf.
Shareholders: There must be at least one shareholder of your company. Shareholders can be individuals or other companies.
Company secretary: Within six months of incorporation, you must appoint a company secretary who is a qualified professional.
Registered address: Your company must have a registered address in Singapore. This can be either a residential or commercial address.
Paid-up capital: You must have a minimum paid-up capital of S$1.
Once you have met all of the requirements, you can submit your application to ACRA. You can do this online through the BizFile+ portal. The application fee is S$315.
If your application is approved, your company will be incorporated and you will receive a Certificate of Incorporation. You can then start operating your business in Singapore.
Here are some additional things to keep in mind when incorporating a company in Singapore:
You must file an annual return with ACRA within six months of the end of your company's financial year.
You must also file an annual audit report with ACRA if your company meets certain criteria, such as having a turnover of more than S$10 million or more than 50 shareholders.
Singapore has a favorable tax regime for businesses. Companies pay a flat tax rate of 17% on corporate profits. However, there are a number of tax exemptions and incentives available for certain types of businesses.
If you need help incorporating a company in Singapore, you can contact Bestar qualified corporate service provider
Bestar is a qualified corporate service provider in Singapore. We offer a wide range of services, including company incorporation, accounting, tax, and financial compliance. We have a team of experienced professionals who can help you with all of the necessary steps and paperwork to incorporate your company in Singapore.
Here are some of the benefits of using Bestar to incorporate your company in Singapore:
Convenience: Bestar can take care of everything for you, from choosing a company name to filing the necessary paperwork with ACRA.
Expertise: Bestar has a team of experienced professionals who can help you choose the right type of company for your business needs and ensure that you comply with all of the relevant laws and regulations.
Affordability: Bestar offers competitive prices for its services.
If you are considering incorporating a company in Singapore, contact Bestar for a free consultation. We can help you understand the process and determine if our services are right for you.