Singapore - Pte. Ltd./Other jurisdictions
The Republic of Singapore is located in Southeast Asia on the island of the same name and a number of small islands at the southern tip of the Malay Peninsula.
Until 1959, Singapore was a colony of Great Britain, after which it was in the Malaysia Federation for 6 years. But in 1965, he withdrew from it and became a fully independent state.
Politically Singapore is considered one of the most stable countries in the world. Singapore’s legal system is based on Anglo-Saxon law inherited from the former metropolis, the United Kingdom. The highest governing body of the state is the parliament.
The place of the Singapore economy in the world is among the most intensively developing. In the field of shipping, trade, high technology and financial services, the country is one of the main economic centers of East Asia.
There are no tax-free companies in Singapore, however, Singapore’s tax laws are favorable for international business, providing the opportunity to use the companies registered here in the preferential tax regime.
about jurisdictionArea – 707 кв. км
Population – 4.600.000
Government - Monarch
Capital – Singapore
Official language – english, malay
Official currency – Singapore dollar (SGD)
Time zone – GMT + 8
Company typePrivate Limited Company (Pte. Ltd.)
Directors of the companyAmount: at least one
Status: individuals only
Residents: one director must be a resident of Singapore, the rest may be residents of any country
Information about directors: only in the Singapore Enterprise Register
Nominee directors: allowed
Shareholders of the companyAmount: at least one
Status: natural or legal persons
Residents: residents of any country
Information about shareholders: only in the register of enterprises of Singapore
Nominee shareholders: allowed
Secretary CompanyQuantity: at least one
Status: individuals only
Residents: resident secretary
Secretary information: only in the Register of Enterprises of Singapore
Nominee secretary: allowed
Authorized capital of the companyStandard declared capital is 100.000 SGD.
Minimum paid-in capital – 1 SGD.
Company nameMust end with the abbreviation '' Pte. Ltd. ''. Registration of names containing the words "Bank", "Insurance", "Trust", "Fund Management", "Financial Institution", etc., is allowed only after obtaining the appropriate licenses.
Information about the real owner of the companyInformation about the real owner is submitted only to the registered agent and is confidential.
Annual ReturnAnnual Return is submitted every 12 months after company registration.
Financial StatementThe submission of a financial statement certified by an auditor (Financial Statement) is carried out annually.
TaxationIf certain criteria are met, profits up to 100,000 SGD (approximately 70,000 USD) are not taxed during the first three financial years.Profits up to 300,000 SGD (approximately 210,000 USD) are taxed at a rate of 9%.Profit is above 300.000 SGD, taxed at the rate of 18%.
Double tax treatiesContracts have been concluded with more than 30 countries, including the United Kingdom, Switzerland, Russia, and others.
The term of registration of a new company15-18 business days; The term of receipt of a full package of documents - 7-8 weeks.
Acceptance of third-party companies for service FIVECONSULTOnly in consultation with the previous servicing agent in Singapore.
A set of constituent documents of the company1) registration certificate (Certificate Confirming Incorporation of Company) - a copy in English, certified by a notary of the Ministry of Foreign Affairs of Singapore;2) Memorandum and Articles of Association (Memorandum and Articles of Association), signed by the first founders of the company (Subscribers);3) the initial protocol on the creation of the company (Pre - Incorporation Memorandum of Association), signed by the first founders of the company (Subscribers);4) protocol on the appointment of nominee directors and shareholders (Written resolution of Directors);5) two general powers of attorney (General Power of Attorney), signed by nominee directors - when buying a company, they are filled in with a specific name;6) a printout from the database of the Register of Enterprises of Singapore (Company Business Profile);7) confirmation of nominee directors of the transfer of the company to its actual owner (Agreement for the provision of nominee services and indemnification of the nominee);8) share certificate signed by nominee directors;9) Stamp of the company;10) full package of documents containing copies of documents 1;,2, 3, 4, 5 ,6) and certified by a notary public and the UK.
"Ready-made" companiesWe are ready to register a company for your order in this jurisdiction.
FIVECONSULT comment:Singapore registered companies are not tax-free, and this is what makes Singapore companies very prestigious. However, the tax system in this country provides the possibility of using a simplified tax regime. The inconvenience can be only the fact that Singapore has not joined the Hague Convention, and - accordingly - does not issue an apostille. Therefore, in some cases it may be necessary to conduct consular legalization of constituent documents of Singaporean companies.