Establishing a Company in Singapore

Last updated 1 July 2020
Establishing a Company in Singapore

What Encourages Investment in Singapore?

Government Support

The government provides support to small startup companies in Singapore. It has allocated a billion-dollar fund to support those companies in the past few years.

Strategical Location

Singapore borders some countries with a strong economy, such as Malaysia, which facilitates the process of carrying out trade exchanges between the two countries.

Also read: A Simplified Definition of Commercial Law

Tax System

The taxes imposed on companies are low compared to some other countries, in addition to having multiple tax incentives. The first hundred thousand dollars earned by the company will be completely tax free. As for the next two hundred thousand dollars, the tax rate will be 9% only.

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Economy Situation in Singapore

The individual’s annual income in Singapore is considered to be high, and it can be said that the individual’s income in Singapore is one of the highest in Asia.

Also read: The Importance of Having a Commercial Lawyer Before Starting Your Investment

Types of Companies in Singapore

  • Limited liability company.
  • Company limited by guarantee.
  • Limited stock company.
  • Unincorporated company.

Requirements for Establishing a Company in Singapore

  • The founder must be at least eighteen years old.
  • The company may appoint one or more managers, but at least one of them must be a resident of Singapore.
  • There are no restrictions on the nationality of the directors, so all directors can be foreigners.
  • Choosing a company name in English.
  • Determining the company address.
  • Determining company goals and capital.
  • A copy of the founders’ ID or passport.
  • A company secretary is required.
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Also read: The Most Important Branches of Commercial Law

اقراء المقالة باللغة اخرى : العربية

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