Singapore

General Information on Singapore
Singaporean company

General Information on Singapore:

About Singapore:

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The Republic of Singapore is situated in South East Asia in the Malaysian Peninsula.  It is a British Commonwealth country adn gained its independence from Britain in 1965.  It has a population of approximately 3,000,000 with about 75% being Chinese and about 25% being Malays, Indians or other nationalities.  Today Singapore is a member of the British Commonwealth.

Legal system in Singapore:

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Independent legal system based on English Common Law.

Infrastructure in Singapore:

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It has a thriving technological infrastructure, communications are excellent with state of the art equipment and an international airport which serves as a regional hub for over hundred destinations.

Singapore Economy:

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Singapore has a high level of educational and professional infrastructure, and is a major centre for financial institutions, international banks, investment management companies, audit firms and legal firms.

Currency in Singapore:

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Singapore Dollar (S$)

Language in Singapore:

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English is the official language, but also Mandarin and Malay are used as official languages.

Time Zone:

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(GMT +08:00)

Singaporean company:

Types of a Singaporean company:

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Resident or non Resident company

Company Law in Singapore:

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Singapore Companies Act.

Capital requirement in a Singaporean company:

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Minimum paid up capital - S$1.
Usual authorized share capital - S$100,000. 
Classes of shares:     Ordinary shares, preference shares, redeemable preference shares.

Restrictions on activity in a Singaporean company:

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Not allowed to undertake business in financial services, education, media or politically sensitive businesses, unless special consent or license is given.

Taxation of a Singaporean company:

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Resident companies: 24.5%
Non Resident companies: 24.5%
Exempt companies: N/A

Taxes can be reduced to NIL for business qualifying for tax incentives with its extensive tax treaties and tax reliefs.

Double Tax Treaties between Singapore & other countries:

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Yes, a large number.

Annual Returns in a Singaporean company:

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Not required.

Annual License Fee of a Singaporean company: 

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Annual statutory filing fee - S$35.

Annual Financial Reporting in a Singaporean company:

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Yes, must be audited by Singaporean auditors and filed at the Registrar.  Exempt companies are not required to have their accounts audited.

Registered Office & Registered Agent in Singapore:

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A Registered Office must be maintained in Singapore.

Company Secretary in a Singaporean company:

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Yes, must be a physical person, resident in Singapore.

Directors in a Singaporean company:

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Minimum of two. One should be a physical person resident in Singapore.

Shareholders in a Singaporean company:

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Minimum of one.

Disclosure of Beneficial Ownership in a Singaporean company:

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Yes.

Disclosure of directors in a Singaporean company:

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Yes.

Bearer shares in a Singaporean company:

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No.

Exchange controls of a Singaporean company:

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None

Language of Name in a Singaporean company:

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Can be incorporated using any language in Latin alphabet.

Name restrictions of a Singaporean company:

Any name which the Registrar considers undesirable, obscene, offensive or politically sensitive.

Language of corporate documentation of a Singaporean company:

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English

Timescale for incorporation:

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One week.

Shelf companies available In Singapore:

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Yes

Legislation for Money Laundering Prevention in Singapore:

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Yes

Suffixes to denote Limited Liability of a Singaporean company:

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Private Limited, Pte Ltd.

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