Whether you are Singaporean or from overseas, all companies that operate within Singapore will need to be registered before they can start operating; read on to find out more about Company Registration, and how Margin Wheeler can help you go about completing the process of registering your company. Not only that, we also provide One-Stop Solution for all your corporate needs, including Accounting Services.
Company Registration and Incorporation for Locals - $800
(with Free 1 year Company Secretarial Service)
If you’re Singaporean and you’ve been thinking about setting up shop here, some background reading would have given you some idea about the whole process. What we can do for you is help you alleviate some of the tedious processes during the business setup and Company Registration.
Company Registration and Incorporation with Foreigners - $1000
(with Free 1 year Company Secretarial Service)
If you are a foreigner wanting to incorporate a company in Singapore, you will also need to take the following into account:
You will have to engage a professional service to register a Singapore company. Foreign individuals or entities cannot register for their own company.
You will not be required to obtain a visa or relocate to Singapore. You can operate from overseas but you will need to find a locally residing director. Here at Margin Wheeler, we offer Company Incorporation Services, the services of a Local Nominee Director, and other Corporate Solutions and Accounting Services – Providing a convenient one-stop solution for all your corporate needs.
If you plan to relocate to Singapore, then you will need an Employment or Entrepreneur Pass to remain in Singapore for longer duration.
Useful information when incorporating your company in Singapore
Call Us at (+65) 6871 4838
These are some factors you will need to consider when starting your own company; and this is where we can help:
Company name
This is one of the first and most important steps in setting up your business. The incorporation of a company will take place only after the company name is approved in ACRA.
Directors
You need to have at least one director in your company; and this director will need to be a Singaporean Citizen, Permanent Resident, or a person who has been given a EntrePass, Employment Pass or Dependent Pass. Also, all directors must be aged 18 and above, and must not have a history of bankruptcy or malpractice. This is compulsory.
After which there is no cap on the number of additional directors (foreign or local) that a Singapore company can appoint. Directors may or may not be shareholders.
Find out more about our Nominee Director Services.
Shareholders
A private limited company is allowed to have 1 to a maximum of 50 shareholders. A shareholder can be an individual or another legal entity (a company or trust).
Both local or foreign shareholding are allowed. New shares may be issued and/or existing shares is allowed to be transferred to another shareholder or person any time after the company has been incorporated.
Company Secretary
According to Singapore Companies Act, Section 171, every company have to appoint a qualified person to act as a company secretary within the period of 6 months of the company’s incorporation. The sole director/shareholder cannot be appointed as the company secretary. The company secretary must be a neutral party and a resident in Singapore.
Find out more about our Corporate Secretarial Services.
Paid-up Capital
A minimum of SGD$1 must be provided as paid-up capital for registration of a Company in Singapore. Paid-up capital is commonly known as share capital and can be increased any time after the incorporation of the company.
Registered Address
In order to start your own company, you will also need to register your company to a Singapore address. The registered address must match a physical location.
Here at Margin Wheeler, we also provide companies who do not have a physical office with a prestigous corporate address at only $10/month ($120/year).
Taxation
Companies registered in Singapore not only enjoy tax exemptions but also numerous incentives. You can find out more about the various tax exemption from the Inland Revenue Authority of Singapore (IRAS) – Corporate Tax Rates, Corporate Income Tax Rebates, Tax Exemption Schemes and SME Cash Grant
Additionally, capital gains or dividend are not subjected to taxation.
Find out more about our Corporate Tax Services.
The process of Company Registration could be a complex and tedious process for those not familiar with the rules and regulation. Hence, here at Margin Wheeler our profession team can assist you in handling all the work of incorporating your company so that you can focus on the more important matter of running your business.
Not only that, we also provide Accounting Services and other Corporate Solutions to help you set up your business successfully in Singapore.