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The Republic of Singapore is a Commonwealth country located at the tip of the Malaysian peninsula and occupying an area of 622 square kilometers. Total population is in excess of 4million. The country’s four official languages are Chinese, English, Malay, and Tamil. Chinese is the primary language spoken in the majority of homes. Local currency is the Singapore Dollar.
Due to its close past connections with Britain, the business language remains English and the English common law system applies. Singapore is a sophisticated communications, banking and trading center. There is an excellent professional infrastructure in place. Singapore is regarded as a stable and cost effective jurisdiction, very suitable for international trade and investment, particularly in the Asian region. |
Singapore Private Limited Companies
A Singapore incorporated company may be resident or non-resident depending on its place of central management and control and the origin of its trading income. A Singapore resident company is only taxed on Singapore source income and income derived overseas and which is remitted to Singapore.
Non-resident company – Where a company has the majority of its directors resident outside Singapore (there must always be one Singapore-resident director) and does not carrying on business in, or derive profits from, Singapore it will generally only be taxable on income remitted to Singapore. Utilization of Singapore’s network of Double Taxation Avoidance Treaties is restricted to those companies which are resident in Singapore.
Exempt Private Companies
A company incorporated in Singapore may qualify as an Exempt Private Company, depending upon its turnover and shareholders Status. The company would be exempted from audit and statutory filing of accounts.
Highlights
- Establish reputation globally, not regarded as an IFC or tax haven
- No restriction on foreign ownership of business
- Favourable taxation terms for non-resident companies
- No capital gains tax
- Double taxation agreement with nearly 60 countries
- Non disclosure of beneficial ownership to any of the authorities including OECD (Singapore not a member)
- Confidentiality on shareholders information through use of nominees
- Well developed professional infrastructure and financial services sector
- Neutral tax jurisdiction
- No exchange controls
General Information
| Type of Company | Private Limited Company | |
| Companies Law | Singapore Company Act | |
| Minimum Director | One (resident) | |
| Minimum Shareholder | One | |
| Bearer Shares Permitted | No | |
| Corporate Shareholders | Yes | |
| Corporate Directors | No | |
| Disclosure of Ownership | Yes (although use of nominee shareholders permitted) | |
| Disclosure of Directors | Yes | |
| Corporate Seal Required | Yes | |
| Annual accounts filing | Yes | |
| Annual returns filing | Yes | |
