Register Company in Singapore

Fionza Consultants specializes in facilitating seamless international company registration in Singapore. Our comprehensive service package encompasses swift company registration, nominee director provision, Singapore corporate bank account setup, and efficient visa application assistance. With our streamlined process, a Singaporean company can typically be registered in just one business day upon the submission of all necessary due diligence documents. Trust Fionza Consultants for a swift and hassle-free experience in establishing your business presence in Singapore.

Singapore

Company Registration – 1 Week
Local Director? – Yes
Bank Account Opening – 4 Weeks
Travel Required – No

Register company in Singapore

Fionza Consultants is your premier partner for international company registration in Singapore. Our comprehensive business expansion service package covers the seamless process of registering a company with the Accounting and Corporate Regulatory Authority (ACRA). We offer expertise in providing nominee directors, facilitating corporate bank account openings, and managing employment pass applications.

Singapore boasts one of the world’s most efficient and bureaucracy-free regulatory frameworks, consistently ranking among the top 2 countries for business in the World Bank’s Ease of Doing Business survey for over a decade.

Setting up a company in Singapore is remarkably straightforward, with ACRA typically approving new company registrations in less than a day. Our team ensures a simplified procedure, making annual compliance requirements easy and free from unnecessary or complicated paperwork. Trust Fionza Consultants for a swift and hassle-free experience in navigating Singapore’s business landscape.

Timelines to register Singapore company

Fionza Consultants ensures swift Singapore company registration, typically completing the process within 1 day upon receipt of necessary due diligence documents. Upon incorporation, our international clients receive a scanned copy of the newly established company’s business profile. Importantly, our client-centric approach eliminates the need for our clients to travel to Singapore during the company registration process.

Within the following 4 weeks, Fionza Consultants expedites the opening of either a local Singapore or international corporate bank account tailored to our client’s business requirements. In totality, our streamlined services enable our international clients to commence operations in Singapore within a span of 5 weeks from the initiation of engagement with Fionza Consultants. Trust us for a prompt and efficient start to your business endeavors in Singapore.

Requirements to register company in Singapore

When registering a company in Singapore, it is imperative to appoint at least one resident director, who must be a Singapore citizen, permanent resident, EntrePass holder, or an Employment Pass holder. Fionza Consultants offers nominee director services if needed, ensuring a legally binding agreement that underscores the passive role of the nominee local director without decision-making authority.

General Requirements for Company Registration:

Minimum of 1 resident director
Minimum of 1 shareholder
Minimum of 1 company secretary
Minimum paid-up capital of S$1 for initial setup
Registered address in Singapore for the office

Specific Requirements for Private Limited Company:

Private Limited companies, the most commonly chosen corporate entity in Singapore, have specific requirements:

According to the Singapore Companies Act, all companies must have a local registered address and company secretary.
For most business activities in Singapore, there is no minimum paid-up capital requirement.
Businesses in financial services, healthcare, or F&B industries may need to apply for specific licenses.

Fionza Consultants streamlines the registration process, ensuring compliance with these requirements, and offers expert assistance in meeting the unique demands of your business structure. Trust us to guide you through a seamless and efficient company registration process in Singapore.

Types of companies in Singapore

Before proceeding to register a company in Singapore, Fionza Consultants takes the time to thoroughly understand your business model. We then recommend the most suitable business structure to align with your long-term business needs, taking into account tax obligations and potential personal liability.

Limited Liability Company (Pte. Ltd.): The most common choice, suitable for onshore and offshore businesses. It provides a separate legal entity from directors and shareholders, limiting their liabilities. Requirements include at least 1 shareholder, 1 resident director, 1 company secretary, a Singapore registered office address, and a minimum paid-up capital of $1.
Limited Liability Partnership (LLP): Combining features of a partnership and a private limited company, LLP offers flexibility with a separate legal identity. Ideal for professional services, requirements include 2 partners (1 Singapore resident), 1 company secretary, a registered office address in Singapore, and a minimum-paid up capital of $1.
Branch Office: Suitable for foreign owners planning to register a company in Singapore as an extension of a foreign parent company. A Branch Office is not eligible for certain tax incentives, and liabilities are attributed to the parent company. Minimum requirements include at least 1 Corporate Shareholder, 1 Singapore Resident Agent, and a Registered Office Address in Singapore.
Representative Office: Ideal for foreign businesses assessing Singapore market opportunities or promoting their brand. Limited to a short-term period of up to 3 years, a Representative Office can’t engage in revenue-generating activities but can conduct market research. Requirements include a Sales Turnover of over US$250,000, at least 3 years of establishment, a maximum of 5 proposed key members, one Singapore resident representative, and a Registered Office Address in Singapore.

Fionza Consultants specializes in guiding businesses through the optimal choice of business structure for seamless company registration in Singapore. Trust us to ensure your business operates effectively within the regulatory framework and meets your strategic objectives.

How to register company in Singapore?

Fionza Consultants, with its wealth of experience in guiding numerous clients on incorporating a company in Singapore, offers an expedited company formation package. To streamline your new corporate home setup, it is recommended to read through this comprehensive guide to starting a business in Singapore and understand the crucial steps for a successful company formation process.

Step 1: Choosing a Suitable Corporate Entity Before initiating the incorporation process, Fionza Consultants’ expert team comprehensively understands your business goals to recommend the most suitable legal entity. You receive advice on optimal paid-up share capital, corporate structure, legislations, and potential license requirements.

Step 2: Reservation of Company Name Upon receipt of due diligence documents, Fionza Consultants conducts a name search through the BizFile+ online portal to reserve your preferred business name.

Step 3: Preparation of Supporting Documents Before incorporation, you provide required KYC documents. Fionza Consultants then drafts and notarizes the company’s Memorandum and Articles of Association, along with other necessary documents based on business activity and corporate structure.

Step 4: Filing for Registration with ACRA Following ACRA guidelines, Fionza Consultants ensures compliance with the necessity of a local registered office, resident director, and company secretary. Nominee resident director services are provided to international clients. Upon Registry approval, essential documents are couriered to your preferred address.

Step 5: Corporate Bank Account Opening After incorporation, Fionza Consultants assists in opening a corporate account with a bank of your choice, leveraging established partnerships with reputable banks. This process takes approximately 4 weeks, with the option for remote account setup. Once open, internet banking tokens and access codes are couriered to your address.

Step 6: Financial Reporting and Taxation Obligations With the business bank account established, Fionza Consultants ensures ongoing compliance and meets regulatory deadlines for financial reporting and annual tax returns to the IRAS. Dedicated consultants are available to clarify any queries regarding your company’s obligations.

Trust Fionza Consultants for a seamless and efficient process, ensuring your Singapore offshore company remains in good standing throughout its operations.

Advantages of setting up a company in Singapore

Before embarking on the process to register a company in Singapore, gaining a comprehensive understanding of the jurisdiction’s business landscape is crucial. This ensures that your newly established entity can safely and legally conduct business while aligning with your long-term business goals.

Singapore’s Corporate Tax Landscape: Singapore boasts a corporate tax rate of 17%, accompanied by a myriad of tax benefits for investors with companies incorporated in the country. When properly structured, a Singapore non-resident company can legally enjoy tax exemptions.

Economic Overview: Highly urbanized and with a robust economy, Singapore consistently ranks among the world’s top financial centers. Operating in an open and corruption-free environment, the nation features stable prices and a high per-capita GDP. It is also the world’s fourth-largest foreign exchange market and Asia’s second-largest over-the-counter derivatives trading center.

Geographical and Trade Advantages: Strategically located between the East and West, Singapore is labeled as Asia’s most competitive business country. Positioned at key Asian trading routes, it taps into the demand from the 600 million populations in the ASEAN economic region.

Logistical Infrastructure: Singapore’s container ports are among the busiest globally, handling over 60,000 containers daily and serving as the focal point for 200 shipping routes connected to 120 countries. The award-winning Changi International Airport, named the World’s Best Airport for seven consecutive years, provides unparalleled connectivity with more than 6,500 weekly flights to 300 cities in 70 countries.

Cultural and Language Dynamics: Singapore is a cosmopolitan society where people live harmoniously. English serves as the main business language, uniting its people. While the four official languages are English, Mandarin, Malay, and Tamil, various other languages are commonly spoken.

Legal Environment: Singapore boasts a reliable and internationally trusted legal system. It houses international courts, arbitration centers, and various alternative dispute resolution options. Commercial disputes are efficiently resolved in about 150 days, making Singapore’s dispute resolution process one of the fastest globally.

In summary, Singapore offers an advantageous business environment with its robust economy, strategic location, logistical excellence, and a harmonious, multicultural society. Understanding these aspects is vital for a successful company registration process in Singapore.

Post-registration formalities and compliances for Singapore Companies

After completing the initial steps of registering a company in Singapore, it is crucial for business owners to familiarize themselves with the yearly regulatory compliance obligations. Rather than considering these requirements as burdensome, it’s essential to recognize that they contribute to maintaining a transparent and business-friendly environment for both shareholders and founders.

Many of these yearly regulatory compliance obligations come with specific deadlines, allowing companies to plan ahead and meet these standards. Engaging Fionza Consultants provides the added advantage of timely reminders, ensuring your company stays compliant. This section offers essential information for company owners on maintaining compliance with Singapore’s yearly regulatory standards.

Government Oversight: Various government departments oversee yearly regulatory compliance obligations, with a focus on rules set by the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority of Singapore (IRAS).

Appointment of an Auditor: Unless excluded as a small company, directors must appoint an auditor within three months of incorporation. Small companies, meeting specific criteria, can be exempted. Fionza Consultants helps navigate this process.

Preparation of Financial Statements: Yearly compliance obligations include preparing financial statements after the financial year ends. Small private companies meeting specific criteria are exempt from a comprehensive statutory audit.

Annual General Meeting (AGM): AGMs for private companies must be held within six months after the fiscal year’s conclusion, while publicly traded companies have a four-month timeline. Certain private corporations may be exempt based on specific conditions.

Filing of Annual Returns: Singapore companies must file annual returns with ACRA, due within seven months for private companies and five months for public companies. Exempt private companies filing unaudited reports have simplified requirements.

Company Records: Companies must maintain various registers with ACRA, including those for directors, CEOs, secretaries, and auditors. Additionally, specific registers must be kept at the registered office.

Filing of Corporate Tax Returns: Singaporean companies must report earnings and submit Estimated Chargeable Income (ECI) within three months after the fiscal year ends. Annual corporate tax returns must be filed by November 30th of the following year.

Goods and Services Tax (GST) Registration and Return: Companies exceeding a turnover of S$1 million must register for GST and submit returns every three months or quarterly.

Business Licenses and Permits: Companies must obtain relevant licenses or permits based on their business activities. For instance, entities providing payment services require a Singapore Payment Institution license.

Fionza Consultants, with its expert team, facilitates a smooth process for meeting these compliance requirements. Trust us to ensure your company operates seamlessly within the regulatory framework of Singapore.

Find out more about how to register company in Singapore

Fionza Consultants is your comprehensive solution for Singapore company registration. Our all-inclusive package covers company formation, registered agent services, registered address provision, and assistance with opening a business bank account.

Contact us to discover more about the process of registering a company in Singapore. Our team of experts is poised to provide detailed insights within the next 24 hours.

Initiate a conversation with us to explore the intricacies of setting up a business in Singapore. Connect with our team of experts, and expect a prompt response within the next 24 hours.

FAQ

Can foreigner set up sole proprietorship in Singapore?

Yes, a foreigner can do so if he or she is a permanent resident of Singapore or a FIN holder who fulfils the requirements.

Foreigners who are not residing in Singapore but wish to set up a sole proprietorship would need to appoint and authorize at least one Singapore resident representative, as well as a registered filing agent who will submit the registration application on their behalf.

Can foreigner register company in Singapore?

Yes, a foreigner can do so. Besides the standard requirements to set up a company in Singapore, a foreigner will need to fulfill additional requirements such as appointing a local or resident director in Singapore, and engaging the services of a registered filing agent to file the application on the behalf of the foreign applicant.

Fionza Consultants can secure a nominee Singapore resident director and registered filing agent on behalf of our international clients and guide our clients through the entire incorporation process hassle-free.

Can a Malaysian register company in Singapore?

Yes, a Malaysian can register a company in Singapore if he or she is a permanent resident in Singapore or FIN holder who fulfils the requirements to incorporate a company.

Even if the Malaysian application is not a permanent resident or FIN holder of Singapore, he or she can incorporate a business in Singapore. Besides the standard requirements to set up a company in Singapore, a foreigner will need to fulfill additional requirements such as appointing a local or resident director in Singapore, and engaging the services of a registered filing agent to file the application on the behalf of the foreign applicant.

Fionza Consultants can secure a nominee Singapore resident director and registered filing agent on behalf of our international clients and guide our clients through the entire incorporation process hassle-free.

Can EP holder register company in Singapore?

Yes, an Employment Pass holder can incorporate a company in Singapore with full ownership of shares. However, the Employment Pass holder will have to appoint a local or resident director for the business.

How to register company name in Singapore?

This can be done through the BizFile+ online portal. After choosing a suitable and unique name for your business, a name search can be conducted through the BizFile+ online portal to check for its availability. You can then reserve your preferred business name.

How to check if company is GST registered in Singapore?

To do so, you can search the business’ tax reference number or name in the online IRAS register of GST-registered companies.

How much does it cost to register a company in Singapore?

The cost of reserving your business name in Singapore with the ACRA is S$15, while the registration fee for company registration with the ACRA in Singapore is S$300.

In addition, Fionza Consultants will recommend setting aside at least US$5,000 as your paid-up capital to fund your overhead expenditures as well as initial deposit for corporate bank account opening.

As for Fionza Consultants’ engagement fees, this depends on the exact services required from Fionza Consultants. Our fees are inclusive of government fees and all fees will be clearly stated in our engagement letter prior to the start of the engagement. Fionza Consultants believes in transparency with our valued clients and there are no hidden fees.

How long does it take to register a company in Singapore?

Company registration in Singapore usually only takes 1 business day after receiving required due diligence documents. Fionza Consultants can assist our clients to complete the whole incorporation process hassle-free.

How can a foreigner start a business in Singapore?

Fionza Consultants can assists our international clients with setting up a company in Singapore hassle-free. Fionza Consultants will first understand your unique business needs and goals in order to recommend the optimal business structure for your company. Next, Fionza Consultants will proceed to assist you to reserve your preferred company name as well as preparing the relevant documents needed for incorporation and the KYC process.

Fionza Consultants will then proceed to file for registration with the ACRA and courier the articles of incorporation, memorandum and business registration certificate to your preferred address, after which we will help you open a corporate account with a reputable bank so that you can begin conducing business transactions and activities. We will then assist your new corporate entity in staying compliant with accounting and tax regulations as well as other compliance measures.

How to register trading company in Singapore?

To set up a trading company in Singapore, we advise that the key steps below be followed:

Step 1: Register company in Singapore

Fionza Consultants will first assist our clients to register company in Singapore with the ACRA. Before Fionza Consultants can incorporate your company in Singapore, you are required to provide us with the required KYC documents. Some of these documents include the names of directors and identification proof.

Upon receiving all the necessary documents, Fionza Consultants will proceed to draft and notarize the company’s Memorandum and Articles of Association.

According to the business activity and corporate structure, Fionza Consultants will also draft articles of incorporation, business plan and other incorporation documents needed to be submitted to the ACRA.

Step 2: Set up Singapore Customs account

Fionza Consultants will then assist our clients to register an account with the Singapore customs. The company will need a Unique Entity Number (UEN) for the Customs Account to be activated and ready for use. The UEN will also be needed when the business applies for other relevant licenses, permits or certificates.

Step 3: Register for customs permit

After your Singapore Customs account is authorized and operational, Fionza Consultants will assist you to apply for relevant Customs Permits for import and export activites through TradeNet.

Step 4: Apply for Inter-Bank GIRO account

After successfully opening a Singapore Customs account, Fionza Consultants will assist you to apply for an Inter-Bank GIRO account which is needed to carry out transactions and payments for fees such as GST and tax duties to the Singapore customs. The entire application process typically takes 3 or 4 weeks. After setting up the Inter-Bank GIRO account, you can begin conducting trading activities with your new business.

Register Company in Singapore