Seeking a Reliable Jurisdiction for Your Undertaking? Consider Singapore!
Singapore has been a real draw for entrepreneurs for many years as it worked hard to improve its attractiveness for foreign capital. You can take advantage of excellent infrastructure, top-notch banking services, and a bustling business environment. Singapore is a large hub that can serve as your gate to international business. Company registration may be just a little bit challenging, but you can entrust the matter to professionals and enjoy all the benefits of reliable jurisdiction without much hassle.
If you are new to the world of companies formed abroad, we invite you to our portal where you can read a guide on how to open an offshore and see what it takes – with or without our help. There are cases when an expert’s help is indispensable, though. Our portal offers a lot of articles focused on international business and banking, investment, tax optimization, asset protection, and more – so you are sure to find something for yourself if you want to accumulate or preserve capital.
You can also book a session with a qualified specialist to discuss all the matters that may seem a problem to you. We know that many customers struggle with the choice of a destination to form a company or open an account. In this case, we help for free: you will provide all the information for us to make a thorough analysis, and we will provide a shortlist of options to you. And if you decide to entrust company registration to us, our experts will handle all the administrative issues for you at an affordable fee!
Singapore Company: Main Benefits
Singapore is a midshore (that is, it stands somewhere between an offshore and an onshore destination). And this is a very good choice as offshore destinations are experiencing increasing pressure on the part of international regulators. Choose a jurisdiction with a high reputation in the world of international business – and enjoy all the related perks!
Here are the main advantages of a company registered in Singapore:
- Tax benefits. Singapore’s authorities understand very well how hard it may be for a business to start making a profit. With that in mind, the country’s corporate legislation is very supportive and stimulating to new businesses: you will have generous tax incentives and preferences at the start!
- Reputation. When you form your company in an offshore jurisdiction, you should be prepared for some mistrust on the part of some business parties. And though the offshores are no longer used for aggressive tax optimization or all kinds of illegal schemes, they are still perceived as suspicious and high-risk destinations at times (and it may cast a shadow on your company). Singapore is a “clean” jurisdiction that will only improve your company’s reputation.
- Straightforward registration procedure. There are many jurisdictions where bureaucratic procedures make company registration a long-lasting painstaking procedure that sometimes takes months. However, you will find nothing of the kind in Singapore as it has worked hard to minimize the red tape: you will have to fulfill minimum requirements and file basic documents. Your company can sometimes become fully operational in a matter of 2-3 days, which is incredible!
- Non-residents are welcome! Not all countries are hospitable to foreign businesses as they may create problems for their economy. However, Singapore is friendly to foreigners who come here for business, and it does not impose any serious restrictions. You will have the same rights and privileges as a local entrepreneur, which will help you make your business a prosperous affair in the long run.
- Political and economic stability. Business prospers in stable environments only, and this is the rule of the thumb. Any major upheavals or crises hit businesses hard or even ruin them, making any asset protection or diversification efforts simply impossible. Singapore does its best to keep the situation stable, and changes that occur usually have a positive effect on the business.
- Excellent banking. It often happens that entrepreneurs set up a company in one jurisdiction and open a corporate account in another one as it is very hard to find a combination of top-notch banking with a pro-business environment. However, Singapore has it all: you can not only establish a legal entity here but also open a business account with a reliable bank.
- Wide opportunities. Singapore offers a really extensive choice of legal forms, reputed banks, additional options and features, programs and incentives for businesses – in short, everything an entrepreneur may need. Book a session with our experts to get a list of business opportunities in Singapore tailored to your specific needs and preferences!
And that is not all: we are ready to tell you more whenever you want.
Singapore Company: Details
Let’s look at the main things related to the formation of a company in Singapore:
- Name. We recommend providing several alternatives as your company name will only be accepted by the registrar if it is unique. Make sure to mention the legal form of your business in the name.
- Director. You can have only one director if you want to, but he/she must be a Singapore resident or a work permit holder. The nominee service is officially allowed.
- Shareholders. The number of company shareholders may vary from 1 to 50, and they can be residents of any country. Directors can be shareholders as well.
- Secretary. This position can only be held by a local resident who has appropriate qualifications, which is the reason why most foreign entrepreneurs use the services of a nominee secretary. If you have a director who is a shareholder, he/she cannot be a secretary.
- Paid-up capital. There is no minimum threshold: you can formally start a company with 1 Singaporean dollar.
- Registered address. A physical address is a must for a Singapore company, and you cannot have just a mailbox for correspondence. We will help you get a legal address at an extra fee.
- Registered agent. If you are a non-resident, engaging a registered agent who will register a company for you is a mandatory condition.
Interested in the opportunities provided by Singapore? Follow the above link to read a useful guide on offshore company registration or book a session with our expert to discuss any questions or order the services of hassle-free company registration. Use the live chat in the link above to contact a representative.