Private Limited Company
Singapore is one of the leading international financial centers in the region; offshore investors that want to incorporate a company in Singapore will have the advantage of being close to major banks, financial institutions, investment management companies and accounting and legal firms. It is the world leader in foreign trade and investment with least corrupt economy in the world.
Advantages and Benefits
- Limited Liability for shareholders
- 100 % foreign ownership
- Legal entity on its own; separate from its shareholders and directors
- Multi-lingual jurisdiction
- Straightforward and stable tax system
- Low or no withholding tax on overseas dividend received by the holding company
- No capital gains tax levied
- Tax efficient legislation with a broad treaty network of more than 70 double taxation agreements in force.
- No controls or restrictions on repatriation of profits to investors
- No public disclosure of beneficial ownership information
- Highly efficient infrastructure
- Transferrable of ownership, either wholly or partially.
- Effective corporate tax rate of 17% on income sourced in Singapore
- Minimum share capital
- Minimal annual statutory filling fees
- Multiple classes of shares
- Shareholders are not liable for the company’s debts beyond its subscribed share capital.
Exempt Private Company
Exempt private company is a private limited company, of which all shares are not held directly or indirectly by any corporation and which has not more than 20 members. It is also exempted to account auditing if the annual revenue is less than $5 million.
Jurisdiction | Singapore |
Type of Entity | Private Limited |
Type of Law | Common Law |
Shelf Company available | Yes |
Time to establish a new company | 3-5 working days |
Taxation on Foreign income | Nil |
Double Taxation treaty access | Yes |
Standard currency of share capital | SGD$ |
Other permitted currencies of capital | Any |
Minimum paid up share capital | SGD$1 |
Usual authorized share capital | SGD$ 100,000 |
Minimum number of Directors/Managers | 1 |
Local Directors/Managers required | Yes |
Publicly accessible record of directors/managers | No |
Locations of directors/managers meeting | Anywhere |
Location of members meeting | Anywhere |
Minimum number of shareholder | 1 |
Company secretary required (Local/Qualified) | Yes |
Requirement for audited accounts | Yes |
Requirement to file accounts | Yes |
Publicly accessible accounts | No |
Requirement to file annual return | Yes |
Change in Domicile permitted | No |
Requirement to prepare accounts | Yes |
Bearer shares | No |