Singapore has been recognised across the world as financial vehicles that can be successfully utilised in a variety of business activities, carry out commercial and industrial activities.
Singapore Pte, is a limited liability company which conducts its trading and business outside the Singapore and is intended for offshore activities. It takes up to 10 days to incorporate a company in Singapore.
The Directors of the company may be of any nationality and may reside anywhere. At least one director is required and there is a requirement to appoint at least one local resident director.
The Shareholders of the company may be of any nationality and may reside anywhere. At least one shareholder is required, this can be the same person as one of the directors. There is no upper limit to the number of shareholders and a shareholder can be a person or a corporation
The standard share capital of a Singapore company is $1,000 SGD and it has to paid up. Your company's share capital can be issued in any currency.
Company Secretary / Registered Office / Registered Agent
The company must have a registered agent, registered office and company secretary in the Singapore.
The details of Shareholders do appear on public record compared to Directors details which are fully accessible.
The company must maintain accounting records, however it does not have to keep records in the Singapore. There is a requirement for audited financial statements and submit details of the directors and shareholders to companies' house.
Corporation and other taxes
There are no corporate taxes for a Singapore if no fund is deposited in the country. There is also an annual government levy of SGD20 for standard share capital.
Why use a Singapore Company.
Singapore offshore companies are commonly used for
- Holder of bank accounts, fixed deposits, investment plans and any other financial or commercial title;
- Owner of the shares of other companies or legal entities;
- Manager and promoter of international business transactions;
- International leasing of aircraft, vehicles, machinery and others;
- Borrowing or lending money, paying or receiving commissions, royalties or others;
- Marketing and promotion of products and services;
- Other commercial and financial activities
- Payment service provider used to transfer funds
- Electronic Money Licensing (E-Wallets)
- Investment in Asian countries
Our Formation Package
- Registered Address and Agent
- Company Secretarial Maintenance
- Government fees
- Certificate of Incorporation
- Memorandum & Articles of Association
- Appointment of First Directors
- Consent Actions of the Board of Directors
- Share Certificates
- Register of Directors and Members
- Company Seal
We also offer Nominee and Management Services (Substance requirements) along with bank account opening and international tax planning.
Prices and fees included on our website
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.