- April 29, 2020
- Posted by: coseclinicadmin
- Category: Sharing
Everything You Need To Know About Company Incorporation in Singapore.
Planning to start your business in Singapore? Read this guide to know about the company incorporation Singapore.
Robust financial economy, good tax benefits, connected marketplace, and effective business environment are some of the reasons why entrepreneurs prefer beginning a business in Singapore. To legally achieve this you need to incorporate your company in Singapore.
What is Company Incorporation?
Company incorporation is a legal procedure to register and establish a company in Singapore. It helps to formally organize your business and separates the cash flow of the company from owners and investors.
Advantages of Company Incorporation in Singapore
Along with being a legal requirement to establish a company in Singapore, there are certain advantages of company incorporation. They’re listed below:
When incorporating a business in Singapore you’ll be obliged to various tax benefits including:
- Tax-free dividends
- No tax on capital gains
- The corporate tax rate is 17% and can be lowered with certain tax exemptions in compliance with Inland Revenue Authority of Singapore
Robust Economy and Infrastructure
Incorporating a company in Singapore provides you access to a rising and competitive global economy. According to the World Bank, Singapore is a high-income economy and renowned as the best country in human capital development. This helps you attract capital and business growth opportunities as well as admittance to world-class infrastructure and logistics.
Avoidance of Double Taxation
Singapore has an extensive network of DTA with over 50 countries. DTA or Double Taxation Agreement is a tax agreement that ensures the avoidance of double taxation occurring during cross-border economic transactionsbetween two countries. The list of partner countries is available on the Inland Revenue Authority of Singapore. Hence incorporating a business in Singapore will make sure you are safe from double taxation.
Ease of Incorporation and Operation
With extensive tax benefits, a productive workforce, and cooperative policies the incorporation process of Singapore is simplest compared to other nations. According to The World Bank Ease of Doing Business Index Singapore tops the list, thanks to its most business-friendly regulations. The requirements of incorporating a company in Singapore is simple and on average it takes less than 3 steps to incorporate a business.
Most companies are registered as private limited companies in Singapore and have the following suffixes as a part of their brand names:
- Private Limited
- Pte Ltd
The registration process is done through ACRA, a national regulator of business entities, public accountants, and corporate service providers in Singapore.
Features of a Private Limited Company
The features of a private limited company are listed below:
- It can own property in Singapore
- It’s an independent legal entity and shareholders are not personally liable for debts and losses of the company
- It should have a minimum of 1 shareholder and a maximum of 50 shareholders.
Minimum Qualifications To Register a Private Limited Company in Singapore
To qualify for the incorporation procedure, a private limited company should have:
- 1 Shareholder
- Resident Director
- Physical Singapore Address
- Company Secretary
CoSeClinic has proven experience in incorporating companies and meeting your business aspirations. We will make the company registration easier and hassle-free for you. If you have any queries related to the company incorporation, feel free to contact us today at 62701163.
Find out what CoseClinic Group of Companies can do for your business:
- Singapore Company Incorporation Services
- Singapore Company Secretary Services
- Singapore Bookkeeping Services
- Singapore Audit Services
- Singapore Accounting Services
- Singapore Tax Advisor
- Singapore Accredited Tax Advisor
- Singapore Accounting Firms
- Singapore Virtual CFO Services
- Singapore IPO Consultancy Services