Singapore Private Company Formation Service
in Hong Kong
Remote company formation is ensured, our Incorporation Package of Singapore Private Company Limited by Shares (Pte Ltd) has come with a 1-year appointment service of nominee local resident director and company secretary already.
|Including the following items:|
|Incorporation Handling & Government Fee (One-off)||US$ 799-|
|Nominee Local Company Secretary (Per Year)||US$ 650-|
|Nominee Resident Director (Per Year)||US$ 2,500-|
|Refundable Security Deposit (One-off)||US$ 2,500-|
|Registered Office Address (Per Year)||US$ 450-|
Refundable Security Deposit is a withholding fee collected by the nominee director. It is a common practice in Singapore.
Singapore Pte Ltd is the best commercial entity for carrying on businesses in Singapore.
Singapore Pte Ltd is a separate legal entity from its members, officer, and manager, so they are not personally liable for unlimited debts and losses of company.
Singapore Pte Ltd allows wholly-foreign ownership.
(YA 2020 onward) Newly incorporated Singapore Pte Ltd is eligible to the “Tax Exemption Scheme for New Start-Up Companies” in which the company can enjoy a 75%-off discount on the first SG$ 100,000 chargeable income and further a 50%-off discount on the next SG$ 100,000 of that income of a financial year for three consecutive Years of Assessment.
The Singapore Companies Act requires all companies in Singapore to maintain proper books of accounting in accordance with the Singapore Financial Reporting Standards (IFRS). Our cost starts at US$ 1,500.
To reduce regulatory burden and compliance cost for smaller Singapore companies, a Singapore Pte Ltd can be exempted from the obligation of annual audited account in a financial year if it qualifies as a “small company” in the financial year, the concept of small company requires that the company must be a private company in the financial year in question; and meet at least 2 of 3 following quantitative criteria for immediate past two consecutive financial years:
Once a Pte Ltd acquires the “small company” status, it will be exempted from audit unless the company is disqualified. It occurs when the company:
Only certain activities in Singapore require your company to acquire proper licenses, such as: education institutes, employment agencies, financial services, import/export of goods, liquor / tobacco distributors, moneylenders, restaurants, and travel agencies.
* Definition of Ordinary Resident: the person who has the legal right to ordinarily reside in Singapore over the long-run i.e. Singapore citizen, Singapore Permanent Resident or the holder of residential visa including Employment Pass and EntrePass.
For updated requirement, please refer to ACRA (Setting up a local company).
In addition to the nominee services of the local director and secretary, the registered office address service and incorporation handling service are designate to make the company formation process totally remote and hassle-free.
The incorporation process is as short as 2 business days. However, the actual time spent is around 2 weeks, including the engagement planning, company name check, the appointment of director, shareholders and secretary.
Provision of a nominee to act as Company Secretary of your Singapore Pte Ltd to fulfilling the statutory requirement for the initial setup of your Singapore business
Beside, the secretary is able offer the following for your firm for additional service charges:
Your company will be sharing the prestige address at Chevron House, Raffles Place, Singapore. The office located at this address is managed professionally to ensure the compliance of company registration.
The nominee is a Singapore resident who is appointed to take the role of a director on your company board’s of directors, on the behalf of the beneficiary owners. The nominee director has the same statutory obligations and responsibilities by the Singapore Companies Act and the common law. However, you are still holding the full control of your company because the nominee cannot exercise the directorship power of the company without the owners’ consent.
As foreigners, you must hire the professional service firm like us in handling the documents and payment transaction with ACRA’s Bizfile of Singapore. On our customers behalf, we need the foreign directors and shareholders to provide the following documents:
You will undergo the Company Name Reservation and Approval process. In order to ensure a quick name approval procedure, you should not use include words which are related to the restricted businesses in Singapore in your proposed company name. You should provide the following:
We will utilize the sample Constitution provided by the ACRA to create the constitution of your company which is the legal document of your company and is required by the ACRA.
After your application is submitted to the Bizfile, the approval can be done within one business day. After the approval, you will receive the electronic copy of the Certificate of Incorporation and the Business Profile of your company.
|Legal System:||English common law system|
|Currency:||Singapore Dollar (SG / Currency code: SGD)|
|Time Zone:||GMT +8|
|Official Name:||The Republic of Singapore|
|Company Registry:||Accounting and Corporate Regulatory Authority|
|Entity:||Private Company Limited by Shares (commonly known as “Pte Ltd”)|