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Singapore – Private Limited Company (Pte. Ltd)
  • The Republic of Singapore is situated on a chain of islands in Southeast Asia between Thailand and Malaysia. Until 1959, Singapore was a British colony. It then joined the Federation of Malaysia for 6 years. In 1965 Singapore left the Federation and became an independent state.
  • The highest management body of the country is the Parliament. Singapore is considered to be one of the most stable countries in the world in terms of politics.
  • The Singapore economy is one of the most intensively growing financial systems in the world. The country is one of the key economic centres of Southeast Asia in such areas as shipping, trade, high-tech, and financial services.
  • The Singapore legal system is based on Anglo-Saxon law which is a legacy of its former master country being Great Britain.
  • In Singapore, there are no tax-free companies. However, Singapore’s tax legislation is very favourable for global business as it offers the opportunity to use companies incorporated there in a favourable tax regime.

GENERAL INFORMATIONTotal area – 710 sq km
Population – 5,000,000
Location - click here to see the map of offshore jurisdictions
Political status – republic
Capital – Singapore
Official language – English, Malayan
Official currency – Singapore dollar (SGD)
Time zone – GMT + 8
Company typePrivate Limited Company (Pte. Ltd.)
Directors/OfficersSingapore companies require a minimum of 1 Director, who must be a natural person.
At least one Director must be a resident of Singapore, others may be residents of any country.
Each Singapore company must file a Register of its Directors with the Register of Enterprises of Singapore.
ShareholdersSingapore companies require a minimum of 1 shareholder, who may be a natural person or a corporate body from any legal jurisdiction.
Each Singapore company must file a Register of its shareholders with the Register of Enterprises of Singapore.
SecretarySingapore companies require a minimum of 1 Secretary, who must be a natural person.
At least one Secretary must be a resident of Singapore, others may be residents of any country.
Each Singapore company must file information on its Secretary with the Register of Enterprises of Singapore.
Authorised share capital There is no requirement to state particular amount of authorised capital in foundation documents. Minimum paid up capital – 1 SGD.
Company Names The name of a Singapore company must end with the words Private Limited or the suffix "Pte.Ltd.".
Company names containing restricted words such as "Bank", "Insurance", "Trust", "Fund Management", "Financial Institution", etc. will not be permitted unless an appropriate national operating licence has been obtained by the company.
Beneficial Ownership information Information with regard to ultimate beneficial ownership must be disclosed to the Registered Agent of a company and is held by the agent on a confidential basis.
Filing of Annual ReturnAn Annual Return must be submitted every 12 months after the date of registration.
Filing of Financial StatementsFinancial Statement must be submitted annually.
Requirement for the auditors report applies, depending on a type of activity of a company, its corporate structure and a turnover for a year.
Corporate Taxation- A profit up to 100.000 SGD (approximately 70.000 USD), depending on particular criteria, during first three financial years is not taxed.
- A profit up to 300.000 SGD (approximately 210.000 USD) is taxed under the rate of 9 %.
- A profit above 300.000 SGD is taxed under the rate of 18 %.
Tax TreatiesSingapore has entered into Double Tax treaties with more than 70 countries, including the Great Britain, Switzerland, Russia, etc.
Timeframe for incorporation 15/18 working days. A complete set of company documents can be delivered in 7/8 weeks.
Takeover of management & secretarial services for an existing Singapore companyPossible, following verification of Beneficial Ownership and agreement with and discharge of liabilities to previous corporate service provider in Singapore.
Description of incorporation documentsClick here for itemised description of company documents.
"Ready-made"("Shelf") companiesToday we have 2 "Ready-made" companies available in this jurisdiction
Price of Singapore companyEUR 4,740, including preparation of foundation documents, incorporation costs, the registration duty, full domiciliary (Registered Agent/Office) costs, services of local director and legal support services for one year.
Also the guarantee deposit (2.000 EUR) for preparation of financial statements and performance of legislative requirements has to be placed by the client.
Cost of annual support servicesEUR 2,950 per year, including full domiciliary (Registered Agent/Office) costs, delivery of Annual Return, Government Duty, services of local director and legal support services for each year.
Also, there are additional fees for preparing of financial statement, depending on complicity of a statement.
  • INTERNATIONAL OVERSEAS SERVICES has the following comments:
  • Companies incorporated in Singapore are not exempt from tax. However, the applicable tax legislation of the country provides an opportunity for Singapore companies to operate in a favourable tax mode.
  • As a non-resident of the EU, a Singapore PTE company is an appropriate instrument for the purchase of goods in EU countries and their further export to countries outside of the EU. In the event that a Singapore company is used, export from the EU becomes obvious, whereas if a company registered in any EU country is used for this purpose, the seller of the goods may not be sure whether the relevant operation is treated as export from the EU or not.
  • Singapore is not a party to the Hague Convention and hence is unable to issue an Apostille, which may be inconvenient. Consequently, in some cases Consular legalisation of corporate documents of Singapore companies may be required.