Singapore Company Incorporation Services
Incorporating a business in Singapore will be your good choice. Why to register a company in Singapore? Well, being as the home to the busiest port in the world, Singapore is a developed country in one of the fastest growing economies in the world. Singapore is rated as 1st for ease for doing business in the world by World Bank. Not to mention, Singapore is ranked as the 3rd wealthiest nation in the world by Forbes magazine. Singapore has been ranked as the 3rd most globalized economy among 60 of the world’s largest economies in the recent released Ernst and Young 2011 Globalization Index. Besides, Singapore values entrepreneurs.
Apart from that, Clear Tax Scheme enables Singapore to attract more entrepreneurs. Singapore has a territorial tax regime, which means that you’ll only be taxed on business that take place in Singapore.
In order to register a company in Singapore, you are required for following information and documents:
- Company Name
- Brief Description of Business Activities
- Shareholders Particulars
- Directors Particulars
- Registered Address
- Company Secretary Particulars
- Memorandum and Articles if Association (MAA). Singapore Company Registrar provides a standard MAA document that is suitable for most instances.
There are a few business structures that are available for registration, which include sole proprietorship, partnership, company, limited liability partnership and limited partnership. The most popular business entity registered in Singapore is in the form of private limited company.
A company is not required to prepare an Audited Report if:
For a company with its financial year beginning prior to 1 July 2015:
- The company does not have any corporate shareholders
- The total number of individual shareholders must be less than 20,
- Annual turnover of the company must be less than $5 million.
For company with its financial year beginning on or after 1 July 2015, the Company must qualify as a small company for the immediate past two consecutive financial years. A company qualifies as a small company if (a) it is a private company in the financial year in question; and (b) it meets at least 2 of 3 following criteria for immediate past two consecutive financial years:
- Total annual revenue is not more than $10m
- Total assets is not more than $10m
- Total assets is not more than $10m
- Number of employees is not more than 50
For a company which is part of a group, to qualify to the audit exemption
- The company must qualify as a small company
- The entire group must be “a small group”
As for Private Limited Company, you can have between one and 50 shareholders. Shareholders can be individual or entities, local or foreign. After incorporation, you can issue or transfer shares to shareholders.
When registering for a new company in Singapore, you can consider to employ the services of a professional accounting firm to make your incorporation process easy and trouble-free. When you turn to 3E Accounting, you are assured of quick yet thorough processing that results in an incorporated company that complies with all existing statutes, laws and regulations.
3E Accounting is a Singapore-based firm that provides professional incorporation, accounting, tax, immigration and compliance services for start-ups and small- to medium-sized firms. It is their mission, to provide 3 Es: Efficiency, Effectiveness, Economy services to their customers. 3E Accounting is providing incorporation service at just $963.
As a leading corporate service provider with an experienced and professional team, 3E Accounting is providing premium cost effective One-Stop Solution service to their customers. 3E Accounting has received numerous awards and recognitions, such as Top 10 Premium Compliance Service Providers of 2016 in the APAC region, etc. They also partnership with the SME portal, the most visited and trusted portal by Singapore SME’s owners and emerging entrepreneurs. Plus, 3E Accounting has incorporated more than 1,500 businesses and companies in Singapore.