Options to register companies in Singapore from CONFIDERI

Singapore is one of the most reliable and prestigous jurisdictions which contributes for creating an attractive image for the resident companies, meanwhile the cost of registering and maintaining business in Singapore is cheaper than in any European country.

Company in Singapore is not only an alternative to the classic offshore companies and to Cyprus (income from foreign sources received outside Singapore is not taxed), but also to onshore ones.

The Singapore company could be also used as a holding. Up to date Singapore has already concluded 71 double taxation avoidance agreements, which makes it an attractive partner for many countries. Also Singapore is located in the heart of the rapidly developing Southeast Asian region (Singapore has agreements on avoidance of double taxation with the neighboring countries as well). Another great advantage of this jurisdiction is the absence of capital gains tax, meaning there is an opportunity to set up a business in Singapore, to develop it and then to sell it having saved all the revenue.

Moreover, today Singapore is perhaps the only country in the world where you can move to being a director of a local company. Meanwhile total costs of moving are insignificant comparing to those involved in case of moving to Europe or America. Thus, Singapore is one of the most attractive countries for business immigration. Plus the presence of world-class schools and universities makes moving even more attractive for parents who wish to secure the future of their children.

Singapore companies can be also used to protect assets - as a trustee when setting up trusts.

We offer 3 standard sets of services for entrepreneurs wishing to register a business in Singapore:

1. Company in Singapore

- For those who wish to register a business in Singapore and manage it from abroad without moving to Singapore.

Service package for entrepreneurs who wish to register a business in Singapore but not planning to move to Singapore in the near future. In this case we offer the services of a local nominee director, because under the law at least one of the company directors must be resident in Singapore.

Set of services "Company in Singapore" includes the following:

Company registration

  • Reservation of the company name
  • Preparation of documents for registration of the company, including Charter
  • Company registration in the Company Registry of Singapore
  • Certificate of Incorporation
  • Extract of the company Profile from the Registry of Companies
  • Share certificates
  • Notarial certification of the company constituent documents
  • Seal of the company
  • Impression seal (kept by the secretary of the company)
  • Government fees and payment for our services
  • Sending documents by courier (to any country)

Company Secretary for 1 year

Nominee local director for 1 year

Registered office for 1 year

Notes:

In case of using the services of a local nominee director, a deposit of USD 2 500 should be paid. It is refundable when the director resigns.

No deposit is charged under the following conditions:

1. Company bank account is opened outside Singapore;

2. Company has a foreign director and shareholder.

Management and control of the company and a bank account being opened outside Singapore provide not only for non-payment of a deposit, but also ensure a tax-free regime for the company.

As of the second year, the following services are included:

  • Company Secretary for 1 year
  • Nominee local director for 1 year
  • Registered office for 1 year

Notes:

As from the second year, the Singapore companies are required to submit financial statements. The cost of reporting documentation preparation depends on the number of primary documents and bank account transactions.

The cost of preparing financial statements for companies with no more than 200 transactions on the bank account per financial year, is estimated at USD 1 200 -1 500.

If revenue exceeds USD 5 million during the fiscal year, audit is required. The cost of preparing audited financial statements is from USD 3 000.

2 . "Company in Singapore + Working visa (Employment Pass)"

- For those who are planning to move to Singapore to run their own business.

This service package is for entrepreneurs who wish to register a company in Singapore and relocate there to run a business. This case we register a company first, and then apply for a working visa (Employment Pass).

Set of services "Company in Singapore+ Working visa (Employment Pass)" includes the following:

Company registration

  • Reservation of the company name
  • Preparation of documents for registration of the company, including Charter
  • Company registration in the Company Registry of Singapore
  • Certificate of Incorporation
  • Extract of the company Profile from the Registry of Companies
  • Share certificates
  • Notarial certification of the company constituent documents
  • Seal of the company
  • Impression seal (kept by the secretary of the company)
  • Government fees and payment for our services
  • Sending documents by courier (to any country)

Company Secretary for 1 year

Submission of application for one Employment Pass (working visa)

Nominee local director for 3 months

Registered office for 1 year

Submission of application for one dependent pass (visa for a dependent - wife, children, parents)

Notes:

Application for Employment Pass can be submitted to the appropriate authority only after the company is incorporated.

The decision on granting or refusing to issue Employment Pass is taken by the authorized authority and can not be guaranteed.

In case of using the services of a local nominee director, a deposit of USD 2 500 should be paid. It is refundable when the director resigns.

As of the second year, the services include the following:

Company Secretary for 1 year

Registered office for 1 year

Notes:

As from the second year, the Singapore companies are required to submit financial statements. The cost of reporting documentation preparation depends on the number of primary documents and bank account transactions.

The cost of preparing financial statements for companies with no more than 200 transactions on the bank account per financial year, is estimated at USD 1 200 -1 500.

If revenue exceeds USD 5 million during the fiscal year, audit is required. The cost of preparing audited financial statements is from USD 3 000.

3 . "Entrepreneurial visa (EntrePass) + Company in Singapore"

- For those who have an original business idea in order to implement which it is being planned to move to Singapore and register a local company.

This service package is for entrepreneurs with an original business idea who wish to move to Singapore under EntrePass. This case we apply for a business visa (EntrePass) first, and then, after its approval, we register a company.

Set of services "Business visa (EntrePass) + Company in Singapore" includes:

Sumbission of application for EntrePass (entrepreneurial visa):

  • Business plan preparation (requirement of the authorities)
  • Filling in the application form and supporting documents
  • Acting as a sponsor to apply for EntrePass
  • Sumbission of application for EntrePass to the relevant authority
  • Monitoring the status of the application before the decision is taken

Company registration

  • Reservation of the company name
  • Preparation of documents for registration of the company, including Charter
  • Company registration in the Company Registry of Singapore
  • Certificate of Incorporation
  • Extract of the company Profile from the Registry of Companies
  • Share certificates
  • Notarial certification of the company constituent documents
  • Seal of the company
  • Impression seal (kept by the secretary of the company)
  • Government fees and payment for our services
  • Sending documents by courier (to any country)

Company Secretary for 1 year

Registered office for 1 year

Submission of application for one dependent pass (visa for a dependent - wife, children, parents).

Notes:

  • If your EntrePass is not approved for any reason, we will compensate you USD 3 000 .
  • You do not need to register a company before you get EntrePass.

As of the second year, the services include the following:

Company Secretary for 1 year

Registered office for 1 year

Notes:

As from the second year, the Singapore companies are required to submit financial statements. The cost of reporting documentation preparation depends on the number of primary documents and bank account transactions.

The cost of preparing financial statements for companies with no more than 200 transactions on the bank account per financial year, is estimated at USD 1 200 -1 500.

If revenue exceeds USD 5 million during the fiscal year, audit is required. The cost of preparing audited financial statements is from USD 3 000.

4. Other options of service packages.

In case you have not found among these packages the one that best suits you, please contact us and we will develop a customized solution for your business case.

Most of our clients choose one of the proposed sets of services (1 or 2, or less frequently 3rd one). If these packages do not satisfy your needs, we are ready to modify any of them according to your requirements.

We provide the following services for entrepreneurs interested in doing business in Singapore:

  • Company Registration;
  • Nominee local director;
  • Nominee director, resident of the offshore jurisdiction;
  • Nominee local shareholder;
  • Nominee shareholder, resident of the offshore jurisdiction;
  • Secretary;
  • Registered address;
  • PO address;
  • Opening bank account in Singapore;
  • Opening bank account in Switzerland, Liechtenstein, Latvia and Hong Kong;
  • Opening bank account in offshore jurisdictions;
  • Applying for working visa (Employment Pass);
  • Applying for business visa (EntrePass);
  • Applying for dependent visa for your family members (Dependent Pass, Long Term Visit Pass),
  • Financial reporting and auditing;
  • Litigation in Singapore;
  • Setting up trusts using the Singapore company as trustee;
  • Consulting on creation and management of business in Singapore;
  • Advisory services on business immigration to Singapore;
  • Obtaining a certificate of tax residency, certificate of legal status and financial position of the Singapore company, and other documents;
  • Obtaining D-U-N-S® Number for a Singapore company;
  • Other services related to doing business in Singapore. (Please, request the information about the services you are interested in by contacting our specialists by this email: singapore@confideri.com).