Fact File Supplied By:
South East Asia.
Greenwich Mean Time +8.
Changi International Airport.
English, Mandarin, Malay, Tamil.
Based on English Common Law.
Financial services including international banking, merchant banking, all aspects of financing, insurance, reinsurance and fund management; Manufacturing and R&D of high value-added items in industries including electronics, chemicals, biomedical sciences and automation; Education.
Personal income tax
0 to 22%. From YA 2024 – 0 to 24%.
Corporate income tax
106 Double Tax Agreements, Limited Double Tax Agreements, Exchange of Information Arrangements (including those which are signed but pending ratification).
Practically all currencies.
Minimum authorised capital
Minimum share issue
One ordinary share (no par value).
These are available but of less relevance as companies can be incorporated easily and expediently.
Timescale for new entities
A new entity can generally be set up within one to seven days from the submission of all required documents. For a Variable Capital Company, the set up may take up to 14 days.
The filing fees for the set-up of most entities including a company range from S$115 to S$315 onwards. The filing fees for the set-up of a Variable Capital Company is from S$8,015 onwards.
These range from S$30 to S$60. For a Variable Capital Company, this is S$1,600.
All companies require at least one resident director, which means a person ordinarily resident in Singapore.
Not permitted. Directors must be individuals, but corporations can be represented on the board of directors through the appointment of nominees.
Based on provisions in the company’s constitution. Typically, these will also provide for virtual meetings and/or circular resolutions.
The shareholders of the companies are a matter of public record. Additionally, companies are required to maintain a Register of Registrable Controllers comprising beneficial ownership information. This register is available only to public agencies and upon their request.
Public share registry
Annual, unless applicable requirements for exemption are satisfied.
Yes, unless audit exemption requirements are fulfilled.
Must be in Singapore.
Inward re-domiciliation possible in accordance with statutory regime.
Company naming restrictions
The names must not be undesirable (eg of an obscene nature or likely to cause oﬀence to a country, religion, etc), identical to the business name of another entity, or of a kind the Minister of Finance had directed the Registrar of Companies not to accept (eg “Temasek”). Names claiming activities related to banking, trusts, hospitals and other regulated activities require licensing and approval from relevant authorities.