Overview of Location
Singapore is currently acknowledged as a global economic hub with a perfect central location in the Southeast part of Asia. Singapore Limited company may have a number of benefits offered by the local legislative framework, such as a business-friendly and investment-focused environment, stable political climate, enhanced protection of intellectual property, lower corporate income tax rate with a variety of exemptions available, and many more. Being ranked as the third largest global financial center, Singapore is one of the most effective locations for setting up a company for operating a business.
Singapore’s government puts an enormous effort to facilitate the development of local legislation to foster the country’s economy and its growth. Here are some examples of it: corporate and personal capital gains tax are not subject to tax, the country’s VAT (or Goods and services tax) is set to 8% only, while the main corporate income tax is set to 17% which is considered one of the lowest tax rates. Further to it, there are numerous tax incentives providing an exemption of up to 75% of the taxable income, while under certain conditions income can be claimed as totally tax-free and be not subject to CIT at all.
Another prominent example of Singapore’s business-oriented approach is that Singapore has been one of the world’s economies that created and implemented a legislative base for limited companies engaged in virtual currency business activities like ICOs, STOs, crypto exchanges, and others. Cryptocurrencies became a top area for Fintech Investments in Singapore back in 2022.
Our team at Corpheroes would be pleased to seize an opportunity and assist with your business interests and company formation in Singapore. We are happy to offer our tailored corporate governance services and full-time support for you to benefit from all advantages of this location. Being one of the most modern global financial centers, offering crypto-friendly legal regulations, various tax incentive schemes, and more – all these make it the perfect location to establish your business in Singapore.
Required Documents
List of files necessary for setup.
- Certified copy of your passport;
- Certified copy of your utility bill.
- Additional files may be requested for CDD purposes.
Features and Benefits
Peculiarities associated exactly with this jurisdiction.
- Annual maintenance of company: preparation of documents to hold the Annual General Meeting;
- Preparation and filing of annual financial statements;
- Assistance with corporate account opening;
- Registered address in Singapore;
- Nominee director and secretary;
- Acquisition of Common Seal and Company Stamp;
- Identifying Registrable Controllers for maintenance of Register of Registrable Controllers;
- Maintenance and annual review of UBO register.
Formation package includes:
- Our genuine daily support;
- Name availability check and reservation;
- Prepared constitution and filing of all the necessary Forms with the Accounting and Corporate Regulatory Authority (ACRA);
- Electronic Certificate of incorporation with unique registration number;
- Company business profile extract from the ACRA;
- Drafting of first Board Resolution.
Formation Steps
Define your business activities and choose a name that suits your brand.
Name check and reservation. Preparation of the KYC (Know-Your-Customers) and other due diligence files.
Registering an entity with Accounting and Corporate Regulatory Authority (ACRA). Acquisition of the corporate files.
Corporate accounts opening.
Need more details?
Inquire now to get all information about this jurisdiction.
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