Amazon Singapore Starter Pack Offer

Incorporating a company in Singapore is easy and straightforward. To set up your company, you are advised to choose your business structure, register your company with ACRA and get a corporate bank account. Sleek helps you do all of that online and at nominal costs.

Yes! Foreign entrepreneurs are welcome to begin their Singapore company registration process with an employment pass. The employment pass allows foreign professionals, managers and executives to work in Singapore. You will need to complete your company registration before applying for the employment pass and your application is subject to approval by authorities.

To avoid any hassle or uncertainty, foreigners are advised to hire a corporate secretary firm like Sleek, who can help clients with the whole incorporation process.

It is super easy to check whether or not a company is registered in Singapore. Head to ACRA’s search platform and type in the company name that you would like to check. Right after that, if the company is registered, you will get the company’s information that would include – company name, office address, Unique Entity Number (UEN) and more.

ACRA is the Accounting and Corporate Regulatory Authority in Singapore. The Accounting and Corporate Regulatory Authority regulates Singapore’s business entities, public accountants and corporate service providers. Their role is to generate synergies between the monitoring of corporate compliance with disclosure requirements and regulations of public accountants performing statutory audit.

ACRA is responsible for administering the matters related to accountants, companies and business name registrations.

The Unique Entity Number (UEN) is an identification number issued by the Singapore government to all entities in Singapore. You will receive your UEN upon the completion of your Singapore company registration.

Entities that can get an UEN are local companies, LLPs, societies and representative offices.The Accounting and Corporate Regulatory Authority (ACRA) is responsible for issuing an UEN to all the entities with limited partnership, limited liability partnerships, foreign companies and public accounting firms.

In order to incorporate your company in Singapore, the Accounting and Corporate Regulatory Authority (ACRA) in Singapore would require you to provide your company name for name registration, a brief description of your business activities, details of your shareholders and directors, as well as their KYC (Know Your Customer) information. You will need a registered Singapore business address, share capital details and your company’s constitution.

Gathering all the right information for your company registration could be the trickiest part, get in touch with Sleek if you need any assistance.

You can appoint 1 or more directors for your company. They have to be individuals and at least 18 years old. Every company also needs at least one local resident director, i.e. a Singapore citizen or a Singapore permanent resident. If he or she is not a Singapore resident and wishes to fulfil the local resident requirements, the director must have an Entrepreneur Pass or be an Employment Pass holder and have a letter of consent from MOM to act as a Director (if applicable).

To incorporate your company in Singapore, you will need 1-50 shareholders. A shareholder can either be an individual or a corporate entity.

You only need S$1 paid-up capital for your Singapore company registration. The share capital can be increased any time after your incorporation.

Every Singapore company must appoint a secretary within 6 months of incorporation in Singapore. A company secretary has to be an individual (and not an entity) and a local resident in Singapore.

All Singapore registered companies must have a registered address in the country. It must be a place with a physical local address. A P.O. box is not accepted.

Singapore offers many business-friendly tax benefits as incentives to encourage companies to register in the country.

• New companies that are incorporated in Singapore enjoy 75% of their first S$100,000 corporate profits exempted for the first 3 tax filing years.
• They also enjoy 50% further tax exemption on up to S$100,000 taxable income.
• Newly registered Singapore companies can even enjoy further partial tax exemption for 8.5% tax rate on taxable income on up to S$100,000 per annum.
• In terms of shareholding, shareholders of Singapore companies can enjoy 0% tax for both dividends and capital gains.
• Singapore has also signed the Double Taxation Avoidance Agreements (DTA) with over 50 countries including China, Japan, Canada, France and the UK.

You can choose between the following business structures:

Private Limited Company
Private limited companies have less than 50 shareholders and its shares should not be accessible to the public. A private limited company has the most flexible business structure. It is a separate legal entity from its shareholders and directors. It enjoys limited liability.

Sole proprietorship
Sole proprietorship essentially means there are no partners in the business. This means the owner can earn all the profits but also bears higher risk if anything happens. Sole proprietorship is not a separate legal entity from the business owner. You have to be a Singapore citizen, Singapore permanent resident or entrepreneur pass holder in order to register a sole-proprietorship in Singapore.

Limited liability partnerships (LLP)
LLP allows companies to operate as partnerships while enjoying the benefits of a private limited company. LLP are separate legal entities. Partners will not be held liable for any losses or debts from the business.

• You will receive a Certificate of Incorporation from the ACRA. The incorporation certificate will have your Singapore business registration number as a soft copy.
• You will receive your own Business Profile. This profile will be the identity card for your new company.
• After you have successfully completed the company registration process, you will be able to open a corporate bank account. If you incorporate with Sleek, you get a business account free of cost.
• Apply for a business license if your business requires one.
• Register for Goods and Services Tax if you expect the annual turnover of your business is likely to exceed S$1 million.

Company registration in Singapore can take from just a few hours to days. It mostly depends on how quick your shareholders and directors can send over their personal documentation to the company secretary to process. These personal documents include their identification and residential address. The formation of a company can be complex and stressful for entrepreneurs.

At Sleek, we provide one-stop Singapore company incorporation services as well as accounting services. Call us now or leave us your email from the form above to know more about the package prices of our company registration services.