Why should I incorporate a Private Limited Company in Singapore?
Along with being one of the world’s top financial centres with wide availability of funding and assistance schemes for start-ups or established companies, the city-state of Singapore is also known for its ease of doing business and pro-business regulatory environment, along with a very attractive corporate tax framework.
Singapore also has comprehensive trade agreements with over 100 regions of the world, excellent connectivity, strategic geographical location, proximity to world’s largest emerging markets including India and China, and robust IP protection.
What is the major advantage of incorporating a private limited company in Singapore?
Apart from the huge tax advantage, and benefits of over 100 comprehensive trade agreements, one of the major advantages of incorporating a private limited company is that it is a separate legal entity and is limited by shares. As a result, shareholders of a Singapore company are not liable for its debts and losses beyond their amount of share capital.
What are the different types of business structures in Singapore?
There are five different structures to choose from – Sole-Proprietorship, Partnership, Limited Partnership, and Limited Liability Partnership (LLP), and the most common and flexible business entity – the Private Limited Company. Do note that all companies in Singapore must be registered and abide by the country’s Companies Act.
What are the key requirements to incorporate a company in Singapore?
- - at least one shareholder which may be an individual or a corporate entity
- - one resident director (either a Singapore citizen, permanent resident, Employment Pass holder or a Dependant Pass holder)
- - one resident company secretary
- - initial paid-up share capital of at least S$1, or equivalent in any currency
- - a physical Singapore office address, and cannot be a PO Box
What are the various types of companies in Singapore depending on the number of shares and types of shareholders?
- - Exempt private company (EPC): – If the number of shareholders are 20 or less, and there are no corporate shareholders
- - Private Limited:- If the shareholders are more than 20 but less than 50.
- - Public company:- If the number of shareholders exceeds 50, it becomes a public company.
Read more information about incorporating a company in Singapore at Singapore Company Incorporation website.
