Checklist On Setting Up A Company In Singapore
Why Singapore Is The Top Choice For Business?
LOW TAX RATE
- Start-up Companies Tax exemption for setting up a company.
- Non-Start Up Companies Corporate tax rate at 17%.
- Tax Rebate will be extended to YA 2019 at 20% of the corporate tax payable, subject to a cap of $10,000.
- Usually, corporate taxes for incorporation companies are only 8.5% up to S$300K profits due to very attractive tax rebates for start-up companies.
- No capital gain, dividend or estate/inheritance taxes in Singapore.
POLITICAL STABLE & SECURED ENVIRONMENT
- Singapore provides a politically stable environment to entrepreneurs to setting up a business in Singapore.
- Entrepreneurs will find ease of setting up business within 24 hours. As a regional business centre in Asia, it is one of the best choices to have a headquarter in Singapore.
FREE TRADE AGREEMENT
- Robust Trade Eco-System Singapore has established 76 DTAs (Double Taxation Agreements) and 20 FTAs (Free Trade Agreements).
EASIER ACCESS TO CAPITAL
- Capital funding is easy with multiple banks providing SME loans that are supported by the government. Crowd funding, venture capital and various legitimate financing facilities are readily available to aid entrepreneurs.
STRONG INTELLECTUAL PROPERTY LAW
- Protection for your ideas and innovations is easy and straightforward at $1,200 onward.
What Are The Types Of Company?
SINGAPORE EXEMPTED PRIVATE COMPANY LIMITED BY SHARE (EPC)
PRIVATE COMPANY LIMITED BY SHARES (PC)
PUBLIC COMPANY LIMITED BY SHARES
A company limited by Singapore is a separate legal entity for overseas business owner who want minimal cost to set up business.
A separate legal entity with a corporate shareholder.
It can be listed on a stock exchange and raise capital by issuing shares and debentures.
Great for start-up company because the audit exemption for any company with less than $10 million in turnover and its flexibility in obtaining loan easily with banks.
Great for company who would set up a subsidiary and benefits for reduced corporate rate for 1st 3 years.
Great for company actively looking for investors.
Unable to have more than 20 members.
Unable to obtain additional by issuing shareholder to more than 50 members.
Auditor must be appointed within 3 months and auditor must be prepared within 6 months of Financial Year End.
More than 50 members.