Corporate governance failures lead to costly consequences. Protect your business and reputation by understanding the new rules of the game. Our guide breaks down everything you need to know.
Singapore, a flourishing global business epicenter, offers an enticing blend of economic resilience and strategic advantages.
Novo Solution is dedicated to simplifying your entry into this thriving market, providing expert guidance on every aspect of company formation in this dynamic Asian hub.
The Company Registration Journey in Singapore
Beginning with the crucial step of company name selection, we navigate the intricacies of ensuring your business name meets the standards set by Singapore’s Accounting and Corporate Regulatory Authority (ACRA).
We help streamline this process, handling the nuances of name reservation and ensuring compliance with Singapore’s specific regulations about business nomenclature.
Selecting an Appropriate Business Structure
Singapore’s business landscape offers a range of structures, each tailored to different corporate needs. Our role is to help you decipher whether a Pte. Ltd., LLP, or a sole proprietorship best suits your business objectives.
We delve into the specifics of each option, offering clarity on aspects like legal liabilities and fiscal responsibilities, ensuring your decision is informed and strategic.
Local Features
| Feature | Details |
| Type of Legal Entities Available | Private Limited Company, Public Limited Company, Sole Proprietorship, Partnership |
| Company registar | Accounting and Corporate Regulatory Authority (ACRA) |
| Minimum Capital Requirements | No minimum capital requirement for Private Limited Companies; S$1 is commonly used as the nominal share capital |
| Company Incorporation Process | Electronic registration with ACRA through BizFile+ |
| Timeframe for Company Formation | Typically within 1-3 days, provided all documents are in order |
| Registration and Licensing Fees | Approximately S$300-S$600 for company incorporation, including name application fee and registration fee |
| Taxation System | Territorial taxation system; corporate tax rate capped at 17%, with various tax exemptions for startups and small-medium enterprises (SMEs) |
| Reporting and Compliance Requirements | Annual returns and tax filings; mandatory to have company accounts audited if the company does not meet the "small company" criteria |
| Foreign Ownership Restrictions | No restrictions on foreign ownership |
| Privacy and Confidentiality | Shareholder and director information is public; use of nominee directors or shareholders is possible for confidentiality |
| Ease of Doing Business | Highly favorable; consistently ranked as one of the easiest places to do business globally |
| Special Economic Zones or Incentives | Various tax incentives and grants available for startups, R&D, and specific industries; no special economic zones but overall pro-business environment |
| Labor Laws and Employment Regulations | Comprehensive labor laws ensuring worker rights; relatively flexible employment regulations |
| Residency or Citizenship Requirements | No residency requirements for shareholders; at least one local resident director is required |
| Banking and Financial Services | Highly developed, globally connected financial sector adhering to international standards |
| Intellectual Property Protection | Strong IP protection framework in line with international standards |
Navigating the Incorporation Process
Incorporating your company in Singapore is marked by precision and adherence to regulatory requirements.
We guide you through each step, from the preparation of critical documents to their submission to ACRA, ensuring a smooth transition from planning to execution.
Establishing Your Corporate Banking Relations
Establishing a corporate banking relationship is a fundamental aspect of setting up your business in Singapore.
Our assistance extends to helping you choose and set up the most suitable corporate bank account, aligning with your operational needs and compliance with financial regulations.
Ensuring Ongoing Regulatory Compliance
We are committed to ensuring your business meets Singapore’s corporate laws and regulations. From regular financial reporting to adhering to tax obligations, our services are designed to keep your business on the right side of Singapore’s legal framework.
Next Steps
Embarking on your business journey in Singapore is a path laden with opportunities. At Novo Solution, we ensure your venture into Singapore’s business world is seamless and successful.
Reach out to us to begin your business journey in one of the most dynamic economic environments in the world.
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Contact Us
Make Your Business Dream a Reality in Singapore. Partner with Us for Seamless Company Formation. Reach Out to Our Specialists
Contacts:
Dubai: +971585519574
contact@novo-solution.net
Dubai, UAE:
Meydan Grandstand, 6th floor,
Meydan Road, Nad Al Sheba
Meydan Grandstand, 6th floor,
Meydan Road, Nad Al Sheba
