Your Guide to Incorporating a Company in Singapore

Your Guide to Incorporating a Company in Singapore | Bestar

Company Incorporation in Singapore Guide

What is a Company Corporation in Singapore?

A company corporation in Singapore is a sophisticated legal structure that is entirely separate from its owners. This fundamental feature of separation means the entity itself possesses its own legal rights and liabilities, offering a critical layer of protection for its shareholders and directors. Owners are not personally liable for the corporation's debts or obligations, a benefit known as limited liability.

To legally establish this entity, businesses must file articles of incorporation with the Accounting and Corporate Regulatory Authority (ACRA), Singapore’s national regulator of business entities.

Key Types of Companies

In Singapore, the two primary corporate structures are:

1. Private Limited Company (Pte Ltd): This is by far the most common and popular type of company in Singapore. It offers maximum flexibility and control.

   
   

   • Shareholders: Can have a maximum of 50.

   • Public Offering: Shares cannot be offered to the general public.

     
     

2. Public Limited Company (Ltd): This structure is for larger enterprises that plan to raise capital from the public market.

   
   

   • Shareholders: Can have an unlimited number.

   • Public Offering: Shares can be offered and traded publicly.

Why Choose Singapore for Incorporation?

Incorporating a company in Singapore is a move chosen by international entrepreneurs and established firms alike, primarily due to its reputation as a global business hub. The compelling advantages include:

• Favorable Tax System: Singapore boasts a low headline corporate tax rate of 17%. Crucially, there are no capital gains taxes or dividend taxes for shareholders, making it an extremely tax-efficient location.

  
  

• Exceptional Ease of Doing Business: Singapore is consistently ranked among the world's easiest countries for business operations. The regulatory environment is transparent and efficient, and the government actively supports businesses with various programs.

  
  

• Strategic Location: Positioned centrally in Southeast Asia, Singapore provides an excellent strategic base for businesses aiming to tap into the region's rapidly growing markets.

  
  

• Skilled Workforce: The country has a globally recognized, highly skilled, and educated workforce, ready to drive innovation and growth.

The Process: How to Incorporate a Company in Singapore

The process for incorporating a company in Singapore is streamlined, but requires attention to legal detail. Here are the core steps:

1. Name Selection and Approval: Choose a company name and verify its availability and obtain approval from ACRA.

   
   

2. Appoint Key Personnel: A mandatory requirement is to appoint at least one Company Secretary (must be a resident of Singapore) and at least one resident director.

   
   

3. File Incorporation Documents: Prepare and submit all necessary legal documents with ACRA.

   
   

4. Pay Fees: Settle the required incorporation and government filing fees.

   
   

5. Post-Incorporation: Once approved, you must proceed to open a corporate bank account and secure any necessary business licenses and permits specific to your industry.

Expert Assistance for Incorporating Your Company

Your Guide to Incorporating a Company in Singapore

While Singapore offers a simplified process, navigating the regulations and ensuring full compliance can be complex, especially for overseas entrepreneurs.

If you are thinking about incorporating a company in Singapore, leveraging an expert service provider can ensure a swift and error-free start. Bestar is a leading company incorporation service provider in Singapore that can help you with every step of the process.

Benefits of Choosing Bestar

By partnering with an experienced firm like Bestar, you gain:

• Expertise and Compliance: A team of experienced professionals ensures your setup is fully compliant with ACRA and local laws from day one.

  
  

• One-Stop Convenience: Bestar acts as a single point of contact for all your setup needs, saving you time and effort. Services include:

  
  

  • Company name search and reservation

  • Preparation and filing of all legal incorporation documents

  • Assistance with opening a corporate bank account

  • Provision of a mandatory registered office address

  • Ongoing Company Secretarial Services

    
    

• Affordable and Custom Solutions: Bestar offers competitive rates and a variety of customizable packages tailored to the unique needs of different businesses.

If you are ready to take advantage of the opportunities offered by incorporating a company in Singapore, contact Bestar today for a free consultation to determine the best path for your business.