Singapore is located in the heart of Southeast Asia and is an ideal bridge connecting Asia with the rest of the world, facilitating import and export trade and regional business cooperation. Singapore has signed free trade agreements with many countries and regions, providing convenience for enterprises' cross-border operations. The corporate income tax rate for companies registered in Singapore is 17%, and corporate income tax can be reduced or exempted in the first three years. In addition, Singapore is tax-free for overseas dividend income and has signed double taxation avoidance agreements with many countries, further reducing the tax burden of enterprises. Singapore's financial market is highly open, and companies can freely receive and pay foreign exchange and realize free conversion between different currencies, which greatly facilitates the settlement of international trade payments. In addition, the Singapore Exchange, as one of the important financial centers in Asia, provides companies with convenient listing and financing channels. As an international financial center and trade hub, Singapore is highly recognized in the global business field, which helps to enhance the image and credibility of enterprises and facilitates the expansion of international market business. Companies that register companies in Singapore and conduct physical operations and taxation have the opportunity to obtain family relocation opportunities in Singapore and apply for green cards. This not only provides entrepreneurs with a higher quality of living environment, but also injects new vitality into the long-term development of enterprises. (Adam)

Table of Contents

Advantages of Singapore Company Registration Singapore Company Registration Process Singapore Company Registration Requirements Singapore Company Registration Fees Singapore Company Corporate Documents Singapore Company Bank Account Opening Singapore Company Taxation Singapore Company Support Services

Advantages of Singapore Company Registration

01 Superior geographical location, business advantages radiate to Southeast Asia and even the world, an excellent trade and logistics center;

02 Extremely low business and personal taxes, the best place to transfer personal assets;

03 Relaxed foreign exchange control, a gathering place for global banks, and a leading international financial center;

04 Mature credit system, strict business regulations, the safest country for doing business;

05 Five-hour flight distance, more convenient to manage business in Singapore and China;

06 Register a Singapore company and meet the corresponding conditions to get the opportunity to immigrate to Singapore

Singapore Company Registration Process

1) Company name verification

2) Sign the entrustment contract and fill in the application form

3) Pay the registration fee and formally submit the application

4) Government approval

5) Receive documents

Singapore Company Registration Requirements

Company name: Ordinary companies end with PTE. LTD.; Singapore foundations end with foundation LTD. or LTD.

Shareholders and directors: Ordinary companies, at least 1 local director; public companies at least 2 directors (including 1 Singaporean)

Registered capital: The standard capital is SGD 10,000, there is no strict time limit for full payment, and no stamp duty is levied

Business scope: Our company provides a project list for customers to choose (no more than 2 items), special industries require special approval from the government

Legal secretary: Our company can serve

Registered address: provided by our company

Singapore Company Registration Fees

The registration fee includes Singapore government fees and agency service fees, etc. For detailed fees, please consult Zhuoxin professional consultants.

Singapore company registration time

Singapore general company registration time: 1-2 weeks

Singapore public company registration time: 2-3 weeks

Singapore Company Corporate Documents

1: Company business license

2: Announcement of establishment

3: Registration paper

4: Share certificate

5: Steel seal, oval seal, 1 each

6: Authorization letter of nominal director

7: Authorization document of business secretary

8: Announcement of registered address

9: First board resolution

10: Articles of association

Singapore Company Bank Account Opening

Banks available: DBS Bank, OCBC Bank, UOB Bank, Standard Chartered Bank, RHB, Citibank, etc.

Please consult Zhuoxin account opening consultant for specific bank opening information.

Singapore Company Taxation

Singapore is a low-tax country. Standard corporate tax: 17%, with progressive tax rates.

1. Tax incentives for newly established companies:

For newly established companies in the first three tax years after their establishment:

Taxable income of S$100,000 or less: tax exemption

Taxable income of S$100,001 to S$300,000: 50% tax rate, equivalent to 8.5%

Taxable income exceeding S$300,000: 17% tax rate

2. For established companies, Singapore's tax policy is as follows:

Taxable income of S$10,001 or less: 75% exemption, equivalent to 4.25% tax rate

Taxable income of S$10,001 to S$300,000: 50% tax rate, equivalent to 8.5% tax rate

Taxable income exceeding S$300,000: 17% tax rate

Starting from the 2020 tax year, new tax incentives will be implemented. For example, if the pre-tax profit of a Singapore company in the first three tax years after its establishment is less than S$100,000, 75% of the tax will be exempted, and if the pre-tax profit is between S$100,000 and S$200,000, 50% of the tax will be exempted.

Singapore Company Support Services

1) Annual Review of Singapore Companies

All companies must hold an annual general meeting (AGM) every year, submit an annual profit and loss statement, beneficial owner information, an electronic register of directors/secretaries/auditors/CEOs, and company information changes.

The annual review includes: serving as an annual legal secretary, registered address of a Singapore company, annual fees for new directors, providing business secretary services, and preparing materials for the annual general meeting of shareholders

2) Accounting and tax filing

For operating companies, the annual review must include: accounting + accounting reports + tax filings

-Documents to be provided: annual bank statements + invoices + commission agreements (if any)

-Documents after accounting: balance sheet, income statement, trial balance, and an accounting report (1 copy) issued by an accountant based on the financial report

-Documents for government tax filings: tax calculation signature form + 2 returns after submission to the government

3) Change/transfer secretary/cancellation

Zhuoxin Enterprise provides supporting services such as change, transfer secretary, and cancellation of Singapore companies. For details, please consult our professional consultants