Incorporating in Singapore

Benefits of Incorporating in Singapore

Singapore has always been very welcoming towards businesses, both big and small. Starting or incorporating of a private limited company in Singapore holds many benefits that are crucial, especially for start-ups and new companies who need all the help they can get to get their business going and on-track.

Here are 6 benefits of incorporating your private limited company in Singapore:

1. Low Tax Rates
In Singapore, for newly incorporated companies, there is a 0% tax rate on the first S$100,000 of income. The maximum corporate tax rate in Singapore is also very reasonable, capped at just 17% of income. This is extremely beneficial for companies as it helps to ensure that the cash flow in the company will be sufficient for further expansion and growth.

2. Your company can be 100% foreign owned
In Singapore, while the incorporation requires a local director, there is no requirement that requires a local shareholder. This means that a company can be 100% owned by a foreigner, since a director holds no ownership over the company and is solely the person in charge of managing the affairs of the company.

To find out more about directorship in Singapore, visit our article on directorship here: Duties of a Company Director

3. Many Pro-growth Policies in Singapore
The Singapore government is very supportive of new companies. They provide many grants, incentives and assistance schemes to start-ups. These benefits are applicable for all companies, regardless of company structure.

4. Good location and Infrastructure
Singapore is located in a good position. It serves as a central point, with convenient access to South East Asia and the rest of the region. Regardless of your mode of transport, Singapore’s infrastructure is well-equipped to get you to your destination. Singapore houses the best airport facility in the world with flights landing and departing every 80 seconds. Singapore also has well-built seaports, roads, transport system and amenities to make sure you stay well-connected in or around Singapore.

5. Low Corruption and English speaking Workforce
The primary language in Singapore is English, making it very convenient and easy to communicate with Singaporeans. In the multi-cultural society of Singapore, you can also find other languages such as Mandarin, Malay or Tamil. We also have a wide variety of Eurasians, foreign nationals as well as dialect speakers, giving you a vast choice of language to speak with.

In Singapore, there is also a low corruption rate that contributes to a safe business environment for all companies incorporated or working in Singapore. In 2019, Singapore ranked the 3rd out of 180 countries in the Corruption Perceptions Index, proving Singapore to be relatively corruption-free and safe for business activities.

6. Ease of Incorporation
In Singapore, incorporation for both foreigners and locals are equally and fairly straight forward. There are very few barriers to entry, as well as many experienced corporate secretarial firms that can assist you with your incorporation, helping you to get your business on track smoothly.

To find out more about company secretary, find out here: Corporate Secretarial Services

 

 

Ready to start your company in Singapore?

Same Price For Foreigners And Locals

Basic Requirements for
Singapore Company Registration

 


Incorporation Package
  • Processing and Filing Fees – S$180
  • Government Fees – S$315
  • 50% OFF 1st Year Secretarial Service – S$300
  • FREE Co-sharing Lounge and Business Clubhouse usage for 3 months from incorporation (worth S$165)
  • FREE Marketing services (worth S$5,000+)
  • FREE usage of Conference & Meeting Room for 3 months from incorporation (4 hours/month, worth S$200)
  • FREE due diligence of up to 2 local officers (worth S$200)
  • FREE Share Certificates
  • FREE Company Profile
  • FREE assistance for bank account opening with a bank of your choice
  • FREE Memorandum & Articles of Associations
  • FREE First Director’s Minutes
  • FREE E-Certificate of Incorporation
  • FREE Attestations and Witnessing

Why Choose Lionsworld?

As an established Incorporation service provider since 1982, we are able to assist you in your incorporation process and make it smooth and fuss free.

Singapore is well-recognized as a global business hub and is an excellent choice for aspiring entrepreneurs to start their business ventures. At Lionsworld, you will receive complete assistance at every step of the process of establishing a business entity in Singapore. Our comprehensive Singapore Incorporation services help you set up and establish your company in the most cost effective and efficient manner.

Lionsworld helps you decide on your ideal business vehicle

Your decision on the ideal business vehicle to conduct your business activities will influence the ease of business formation and exit, business ownership transfer, how much taxes you need to pay, the extent of personal liability you are potentially exposed to, the set of rules applicable to your business, the amount of administration and paperwork you need to perform, and the ability to obtain loans and borrowings.

One of the most popular choices of business structure adopted by many entrepreneurs is to conduct their business under a private limited company. The key advantages of a private limited company include limitation of personal liability exposure of the shareholder as well as utilising income tax benefits and incentives specific to corporate entities.

The biggest advantages of incorporating a Private Exempt Limited Company in Singapore is that the liability of its members is limited only to the share capital that they have made invested in the Private Limited Company.

Moreover, a Singapore Incorporated Private Limited Company is exempted from annual audit requirements if the company’s turnover is less than 5 Million, and has less than 20 Shareholders and if all shareholders are individuals.

Let us advise you on the ideal business structure for your business. Let us help you assess the scale of your business plan and operation structure before recommending to you the best structure to carry out your business as well as the relevant licenses and permits your business may require.

*Government fees not included. Clients also required to take up 1-year secretarial service, provided at 50% OFF.
**Additional Charges (If applicable)

  • The package fee covers 2 persons for incorporation. Each additional person will be charged at $50.
  • A fee of $50.00 will be charged for each Corporate Shareholder.
  • A fee of $30.00 will be charged for any change in company’s name after reservation.
  • A fee of $60.00 will be charged for conversion from Business to Pte. Ltd. Company.
  • Payment by Credit Cards or NETS will be subjected to additional processing charges payable to government.
  • Package does not include customized M&AA or different Capital Structure