Jurisdictions
Regions
Industry Sectors
Fact File
Fact File Supplied By:
Bird & Bird ATMD LLP
Location
South East Asia
Time Zone
Greenwich Mean Time +8
Population
5.64 million
Capital
Singapore
Airport(s)
Changi International Airport
Language
English, Mandarin, Malay, Tamil
Currency
Singapore Dollars
Political System
Democracy
Dialing Code
+65
Legal System
Based on English Common Law
Centre's expertise
Financial services, international banking, holding and operating companies, international HQs, insurance and reinsurance, fund management, trustee services, merchant banking, asset, project and trade finance.
Personal income tax
0-22%
Corporate income tax
17%
Exchange restrictions
None
Tax Treaties
104 (DTAs , Limited Treaties, EOI arrangements and Agreements signed but not yet ratified)
Permitted currencies
All
Minimum authorised capital
No requirement
Minimum share issue
One ordinary share (no par value)
Shelf companies
No, but companies can be incorporated within a day if all requirements are met
Timescale for new entities
One day formation possible, unless approval or review required from authorities
Incorporation fees
S$15 for name application fee. S$300 for companies limited by shares, S$300 for companies limited by guarantee.
Annual fees
No annual fees imposed by the Accounting and Corporate Regulatory Authority of Singapore (ACRA), nominal filing fees
Minimum number
One
Residency Requirements
All companies require at least one resident director, which means a person ordinarily resident in Singapore.
Corporate directors
Not permitted
Meetings/ frequency
None,unless required by the company
Disclosure
Yes (No for variable capital companies)
Bearer shares
Not permitted
Minimum number
One
Public share registry
Yes (No for variable capital companies)
Meetings/ frequency
Annual, unless applicable requirements for exemption are satisfied
Annual return
Yes
Audit requirements
Yes, unless audit exemption requirements are fulfilled
Registered office
Singapore
Domicile issues
Inward re-domiciliation permitted since 11th October 2017
Company naming restrictions
Names claiming activities related to banking, trusts and other regulated activities such as names including the word "bank", "hospital" or "institution" require licensing and approval from relevant authorities.
