Basic US$ 1,699 for Locals

Services including in Basic:

• Constituting companies in Singapore handling and all government fees US$ 699
• Nomination as a local company secretary for 1 whole year at US$ 600
• Office address registration for! The whole year US$ 400

Starter Plan US$ 5999 for Foreigners

Everything in Basic, plus:

• Nomination for a resident director for 1 whole year at US$ 2100
• Security deposit is refundable of US$ 1500
• Bookkeeping services for 1 year (100 transactions) for US$ 700
• FinTech account opening via online banking 

Premium US$ 7399 for Foreigners

Everything in Starter, plus:

• Singapore employment pass work visa for director US$ 900
• Conventional business / corporate bank account opening US$ 500

Important points to know by intelligent startups

Here, you will get to know some basic details about getting started.

Process time

The process of establishing a new company here will take not more than 2 days, but the whole of the process might take longer but not more than 2 weeks in which company name check, engagement planning, shareholders, the appointment of director and secretary are included.

Basic requirements

• The minimum paid-up share capital for a company in Singapore is one Singapore Dollar (SGD). 
• Directors and shareholders of any nationality are allowed. 
• At least one director must be a local resident in Singapore. This can be fulfilled by hiring a nominee director. 
• The company must have a physical address in Singapore registered as its local office.

Registered address

Your company will have to use an eminent address at Cecil Street, Raffles Place, Singapore. The office that will be located here will be conveniently managed in a professional manner that will comply with Singapore’s corporate regulations.

Accounting & Tax

• According to the Singapore Companies Act, all companies incorporated in Singapore must maintain accurate and up-to-date accounting books in compliance with the Singapore Financial Reporting Standards (IFRS). 
• Newly incorporated Singapore Pte Ltd is eligible for the ‘Tax Exemption Scheme for New Start-Up Companies’, which offers a 75% discount on the first SG$100,000 chargeable income and another 50% discount on the next SG$100,000 of that income of a financial year for three consecutive years of assessment.

Noticeable points

• Singapore Pte Ltd (Private Company Limited by Shares) is a legally distinct entity from its members, officers, and managers, meaning they cannot be held personally liable for the company’s unlimited debts and losses. 
• It is the most preferred commercial entity for doing business in Singapore.

Easy Registration Method

The registration process is quite convenient. You can get special assistance from our experts from start to finish, and you will have nothing to do but sit back and relax.

1. Make your passport 

2. Think of a unique business name

3. You will need to get approval from ACRA

4. Get electronic docs for your new business

Why start a company in Singapore profitable?

Business hub location

Being the busiest airport in the Southeast Asian region, Singapore has direct or indirect access to markets of more than 2.8 billion.

Evolution of FinTech

As Singapore has become one of the countries with advancements in Fintech ecosystems, it helps generate digital banking platforms like Aspire.

Standard of living

Singapore offers its residents a high standard of living, with excellent public and private housing, top-quality healthcare, and a safe and secure environment.

A good force of labor

As a developed economy with a highly educated workforce, Singaporean workers are among the most competitive in the world.

English speakers

Here in Singapore, English is the main language used in schools and businesses; Singapore has a strong workforce. 

Capital markets

Singapore is now the 3rd largest foreign exchange center in the world and has recognized foreign exchange dealers.

Ask anything you want to know about

Is it possible for foreigners to start a business in Singapore?

Singapore is very accepting of foreigners or international nomads who wish to incorporate a company. The sole requirement is that you must have a Singapore national or permanent resident act as a resident director. A nominee director can be hired to fulfil this requirement, and you as a foreigner can be appointed as another director of the company.

What is the role of a nominee director?

The nominee is a Singaporean resident who is appointed to take the role of a director of your company’s board of directors on behalf of the beneficiary owners. The nominee director has the same statutory obligations and responsibilities under the Singapore Companies Act and the common law. However, the nominee cannot exercise directorship power without the owner’s consent, meaning you are still in full control of your company. 

In simple words, there will be more than 2 directors if you will show your interest in attaining our “Starter” or “Premium” package”: you and the nominee, while all the shareholders can be foreigners.

What is an employment pass?

The Employment Pass is a working visa issued to foreign professionals. It allows the holder to work for a specific Singapore company and bring their family to Singapore. The Employment Pass is renewable after 1 to 2 years of stay. 

If you apply for an Employment Pass for your new company as the director, you will only need the nominee director service when waiting for the approval, which is about half a year. You can be the sole director of your company afterward.

What is the process of starting a company here?

To incorporate a foreign company in Singapore, you will need to have foreign directors and shareholders. You will need to provide a copy of their passport and proof of foreign address. You will also need to reserve a company name and have it approved. 

You will need to submit the following documents to ACRA (Accounting and Corporate Regulatory Authority):

– The proposed English name of your company

– It’s business activities

After your application is submitted to the BizFile+ (ACRA’s online filing and information retrieval system), the approval can be done within one business day. After that, you will receive a certified copy of the incorporation and your company’s business profile.

Which kind of businesses need to get a license in Singapore?

Some certain types of businesses in Singapore need to get a license as per the nature of their business, including employment agencies, financial services, educational institutions, import/export of goods, moneylenders, restaurants, and alike. 

For further queries, contact us

Why choose Stephen M.S Lai & Co CPA Limited?

No hidden charges

We assure you that all of our services are transparent, and there will be no hidden charges. We are totally honest and clear with our customers when it comes to costs and services.

Hassle-free packages

We make things easy for our customers, which is our priority to satisfy customers. We pay special attention to providing hassle-free packages in which you do not need to worry about anything but focus on your business as it will take only 2 days to complete incorporation. 

Reliable experts

Our expert team has day-to-day local knowledge of the market and is experienced in handling the Singapore incorporation process.

High-end services

We pave the path and make it easy for your foreign businesses to be smoothly operational while we will be providing you with annual support. 

24-Hour support

All the members of specialists in our team are highly dedicated to attending your calls 24-Hours to serve you and answer your queries. 

Complete solutions

Our local representatives will be supporting you in all the incorporation matters; you will not need to find any further assistance.

What other services can you get from us?

Have a glimpse of the solutions you can get from Stephen M.S Lai & Co CPA Limited as our past clients are already enjoying these services.

Formation of remote company in Hong Kong

You can remotely register your HK Limited Company, open an account of multi-currencies, and get special compliance requirements. You can settle the first transaction as short as one day.