Company Incorporation in Singapore
SHORTS Business Services offers incorporation services in Singapore to both the local and foreign business owners.
Looking for Reliable Incorporation Services Company in Singapore?
Shorts Business Service’s company incorporation services in Singapore provide expert company incorporation advice at every stage. From selecting an optimal business structure and legal documentation management through compliance auditing and registration – let us assist you in forming your new venture efficiently in one of the world’s premier business hubs!
What are Company Incorporation services in Singapore?
Company secretary services encompass a range of crucial responsibilities aimed at streamlining administrative tasks, ensuring meticulous compliance with regulations, and fostering the seamless operation of a business. This multifaceted role involves overseeing various aspects, including registration processes, meticulous document preparation, and unwavering adherence to legal requirements.
At the forefront of providing comprehensive company secretary services in Singapore is Shorts Business Services. With a commitment to excellence, Shorts Business Services takes on the intricate tasks associated with company secretarial duties, offering tailored solutions to meet the unique needs of businesses.
Company incorporation in Singapore refers to the legal process of creating a new company within the country, generally registered with Accounting and Corporate Regulatory Authority (ACRA) which is Singapore’s national regulator of business entities and public accountants.
How long does ACRA take to Approve a Company?
The (ACRA) Accounting and Corporate Regulatory Authority takes around 1-3 days to register the company. However the approval process could take around 14 – 60 days as it is being referred to the Ministry.
Things to Know Before you Incorporate a Company
Before incorporating a company in Singapore, it's important to understand several key factors to ensure a smooth and successful business incorporation in Singapore:
Business Structure:
Private Limited Company:
This business structure is the most common and a preferred structure due to its separate legal entity status, limited liability and a huge potential for growth
Sole Proprietorships:
Ideal for small businesses and individuals, however lacking legal protection.
Partnerships:
Partnerships encompass general partnerships, limited partnerships and limited liability partnerships; each type offers different degrees of liability and legal status.
Legal Requirements:
Company Name:
To comply with ACRA approval and remain legally compliant.
Directors:
At least one director must reside in Singapore; at least one shareholder, either individual or incorporated entity (full foreign ownership is permissible) must also reside there.
Company Secretary:
When incorporating, companies are required to appoint appropriately qualified company secretary within six months.
Registered Address:
When incorporating, companies are required to appoint appropriately qualified company secretary within six months.You must register using an address located within Singapore that cannot be a P.O. Box address.
Minimum Paid-up Capital:
A minimum paid-up capital requirement for incorporation is SGD 1. However, this figure can be increased post incorporation as necessary.
Documents:
To Submit For Each Director and Shareholder and The Company Secretary
Constitution of Your Company:
Your company's Constitution will establish internal rules and regulations.
Consent Forms:
Signed consent forms to serve as director and company secretary are needed before acting as such.
Taxation:
Flat Corporate Tax Rate:
Singapore has adopted a flat corporate tax rate of 17% as the basis of its corporate income tax law system.
Tax Incentives:
Startups may qualify for tax exemptions and incentives in their early years, especially those working within specific sectors or markets.
GST Registration:
An GST registration may be mandatory if your annual turnover surpasses SGD1 Million.
Compliance and Reporting:
Annual Returns:
These must be filed with ACRA each year.
Financial Statements:
Companies are expected to keep proper accounting records as required under ACRA requirements as well as provide audited statements (unless exempt).
Annual General Meeting (AGM):
Annual General Meetings are required within six months from the financial year-end date.
Employment Regulations:
Work Visas:
Foreign employees must acquire appropriate work visas such as an Employment Pass or S Pass before starting to work abroad.
Central Provident Fund (CPF):
Employers are required to contribute towards the Central Provident Fund for employees located within their boundaries.
Bank Account:
A corporate bank account in Singapore is essential to conducting successful business operations and transactions.
Professional Services:
Consultancy:
Engaging professional services (such as attorneys, accountants and corporate secretaries ) can assist with navigating the incorporation process more smoothly while meeting local regulations.
Business Plan:
Market Research:
Evaluating Singapore's marketplace, competitors and customer base in order to develop your plan effectively.
Business Strategy:
Define and document clear goals and growth plans.
Company Incorporation in Singapore for Foreign Individuals
SHORTS provides foreign individuals looking to establish companies in Singapore with a smooth incorporation experience without physically being present in Singapore. Our services span everything from remote management setups and relocation assistance through employment permits or the Entrepreneur Pass scheme (EntrePass). Our expertise ensures foreign entrepreneurs can effectively start and oversee their ventures in one of Asia's dynamic business hubs.
Why Choose Shorts for Company Registration Services in Singapore?
SHORTS Business Services also provides company registration services exclusively for Singapore citizens. We at SHORTS ensure a streamlined registration process by offering expert guidance and support from start to finish. Whether it is your inaugural venture or expanding operations - our dedicated team will assist you with legal requirements such as accounting or company secretarial needs to make this journey effortless and stress-free!
Company Registration Services for Singapore Citizens
We at SHORTS make company registration services in Singapore quick and efficient, with seamless service from start to finish. As a comprehensive corporate service provider, we provide accounting, taxation, corporate secretarial, and company formation solutions tailored to suit the needs of SMEs and individuals.
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