Establishing a Company in Singapore

Singapore is among the world's most attractive jurisdictions for global entrepreneurs for a variety of reasons. Several important points to consider when establishing a company in Singapore include:

The Singapore economy is modern, dynamic and globalised. Singapore is the world's 17th wealthiest country per capita, resulting in a strong domestic consumer market. Establishing a company in Singapore also allows foreign entrepreneurs to take advantages of international tax-efficient trading from one of the world's most reputable jurisdictions.

Establishing a company in Singapore is completed through the Accounting and Regulatory Authority of Singapore (ACRA). The cost to register a company with ACRA is S$300. After company establishment, the company details (for example full shareholders' and directors' information), are available for public viewing on the ACRA online public register.

After establishing a company in Singapore, annual financial statements are submitted to both ACRA and the Inland Revenue Authority of Singapore (IRAS). Every Singapore company (with the exception of a Representative Office) must also submit annual tax returns to the IRAS.

Growing numbers of international investors are establishing a company in Singapore, often as a regional or global headquarters. More than 4,000 companies have chosen to make Singapore their global headquarters.

The Singapore Companies Act 1963 governs company establishment. Corporate regulations for establishing a company in Singapore include the requirement for a Singapore resident director, and at least one shareholder, who can be resident anywhere. Both individual and corporate shareholders are permitted. The minimum authorised share capital for a Singapore company is S$1.

After incorporating the company in Singapore, it must register for goods & sales tax (GST) if annual sales exceed S$1 million (US$801,539) in a calendar year. Singapore levies a 7% GST in lieu of value added tax (VAT) and import duty. However, Singapore company sales to international customers are GST-exempt.

The process for registering a company in Singapore is simple and efficient, as confirmed by the World Bank's ranking of Singapore as the world's easiest place in which to do business in it's Doing Business 2011 Survey.

Investors establishing a company in Singapore access a wide range of double taxation treaties Singapore has signed with 65 countries, including Japan, China, Germany, France, the UK and Canada.