Singapore company formation
Singapore - General Information
Singapore is situated at the southern tip of the Malaysia Peninsular, spanning just over 622 sq km.
3+ million. 75% are Chinese and 25% ethnic Malays and Indians.
Singapore is politically stable. The Singapore government is very pro-business. It actively woos international investors with tax and financial incentives. It believes in creating a business environment that is predictable, transparent and conducive to investors.
Infrastructure & Economy:
Singapore has an excellent infrastructure, with state of the art communications and transport facilities. It is well served by most major international banks and as well as law, accounting and other professional firms.
It is the leading trade and financial center in Asia.
English and Chinese are widely spoken. Malay and Tamil are also official languages.
Type of Law
Restriction on Trading
Generally, no restrictions except for financial services, education, media-related, defence and other sensitive businesses
Income Tax Returns
Required annually. Nil returns may be filed for dormant companies.
Goods and Services Tax
Registration for GST is required only if company supplies goods or services in Singapore in excess of S$1 million per annum.
Annual Board Meeting
May be held anywhere in the world.
17% on income earned in Singapore.
Overseas income are generally not taxable; Unless these are income of Singapore residents and are remitted into Singapore.
We can introduce your company to local and digital bank bank account.
As per our experience, brand-new companies require to operate with a digital bank account before apply for a local one.
After six months / one year we can apply for an account with OCBC, DBS and other similar banks