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Advantages of Singapore company

1- Excellent geographical location, commercial advantages relates to Southeast Asia and the world, an excellent trade and logistics center

2-Very low business and personal taxes, the best place to transfer personal assets, a tax haven in Asia

3-Easy foreign exchange control, a gathering place for global banks, a premier international financial center

4-Mature credit system, strict business norms, the safest business country

5-five hours flight distance, more convenient to take care of business between Singapore and China

6-Register Singapore company, once meet the requirements,directly immigrate to Singapore

 

Requirements for Singapore's directors

Any person or company from any country can set up a Singapore company, but the company must has at least one director who over 18 years old, and the Singaporean director must meet one of the following conditions:

1) Singapore Citizens

2) Singapore permanent residents

3) Holders of employment permit (permit for more than 1 year)

4) Basically approved employment permit holders or relatives permit holders

 

Documents required:

1.Articles of Association

2. Affidavit of compliance

3. Letter of appointment and affidavit of qualifications of directors.

4. Identity certificate.

5. Report form of the company's registered address and office hours.

6. Details sheet and share issue record of the managing director, company secretary and auditor shall be submitted within 1 month after the establishment of the company.

 

Basic conditions of the company

1.Company name

Fill in the English name of the company and close with pte. LTD. / limited.

2. Registered capital

No maximum limit, no strict time limit for fully paid-up capital.

3. Business scope

can choose up to 2 business items

 

Other registration conditions

1. Company legal secretary

A statutory secretary must be appointed within 6 months after the establishment of the company.

2. Company registered address

Must have a local legal registered address in Singapore.

3. Auditor

Must have a local legal registered address in Singapore.

A Singapore company must appoint a registered accounting firm as its auditor within 3 months of its establishment. Private companies with less than S $ 5 million revenue are exempt from annual audits.

 

Financial reporting

Singapore is taxed on the principle of territoriality, that is, any person (including a company or an individual) whose income in or is derived from Singapore, or who receives or is deemed to have received in Singapore, is taxable income in Singapore, need to pay taxes. The main types of taxes in Singapore are: corporate income tax, personal income tax, consumption tax, real estate tax, stamp tax, etc.

 

Corporate income tax

The corporate income tax adopts a corporate income tax system of single level and unified tax rate.There is no new tax on the dividends paid by the company to its shareholders by the stakeholders under the single-tier corporate income tax system.

 

Companies that qualify for the tax exemption plan must:

1. The company was established in Singapore;

2. The company's business control and management must be exercised in Singapore;

3. The company has no more than 20 shareholders;

4. At least one individual shareholder shall hold no less than 10% of the shares.

 

More details about registering company in Singapore, please don't hesitate to contact us GZ-Timely. Tel: +86 18902250059.