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
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
