How We Work
The process of assisting with company formation in Singapore involves several stages. These are an initial consultation and selection of the optimal legal form, preparation of incorporation documents, interaction with ACRA, and engagement of a local resident director where necessary. After registration, we assist with opening a bank account and arranging corporate services. COREDO provides end-to-end support — from the first enquiry to the start of operational activities. Our experience working with Asian jurisdictions allows us to account for the specifics of local regulation and minimise the time required to complete all procedures.
Advantages of Company Formation in Singapore
Singapore offers a number of significant advantages for doing business. The corporate tax rate is a flat 17%, though the effective rate can be considerably lower thanks to tax incentives. Qualifying new companies benefit from an exemption scheme: 75% on the first S$100,000 and 50% on the next S$100,000 of chargeable income during the first three years of assessment. Income earned outside Singapore is generally not taxable unless it is remitted into the country — a territorial basis of taxation applies.
Other advantages include the absence of currency controls, minimal share capital requirements (from SGD 1), 100% foreign ownership in most sectors, well-developed infrastructure, and a business-friendly environment with electronic access to government services. Singapore also has an extensive network of double taxation avoidance agreements, making it a convenient base for international holding structures.
Types of Legal Entities
Singaporean legislation allows foreign entrepreneurs to register companies in various forms. The most popular options are:
The choice of the optimal legal form depends on the business objectives, the planned scale of operations, and liability requirements. For most foreign entrepreneurs, Pte Ltd remains the most practical option due to limited liability, the ability to attract investment, and a favourable tax regime.
Registration Procedure
The company registration process in Singapore is carried out through ACRA (Accounting and Corporate Regulatory Authority) via the BizFile+ online portal:
Documents and invoice
you provide the information and documents listed below, and COREDO issues the invoice for the registration of the company.
Name reservation
an application is submitted through BizFile+ (fee of SGD 15). ACRA’s review of the name takes up to three working days.
Document preparation
memorandum and articles of association, details of directors, shareholders, and the company secretary. COREDO sends you the draft documents for review.
Filing of registration
electronic submission through BizFile+ (registration fee of SGD 300).
Certificate of incorporation
most registrations are approved soon after payment, while complex applications may take up to 15 working days. You receive the corporate documents confirming the registration of the company.
With COREDO, registration and incorporation usually take 3–5 working days from the date all the necessary documents are received.
Taxation
Singapore applies a territorial basis of taxation. The standard corporate tax rate is 17%. Thanks to the Partial Tax Exemption scheme, companies get a 75% exemption on the first S$10,000 of chargeable income and a further 50% exemption on the next S$190,000. For new companies, even more substantial relief applies during the first three years of assessment (YA): 75% exemption on the first S$100,000 and 50% on the next S$100,000 of chargeable income. This start-up exemption requires Singapore incorporation and tax residency and no more than 20 direct shareholders. All shareholders must be individuals, or at least one individual shareholder must hold at least 10% of the issued ordinary shares. Companies whose principal activity is investment holding and companies that develop property for sale or investment do not qualify.
Income earned outside Singapore is generally not taxable unless it is remitted into the country. Remitted foreign dividends, foreign branch profits and foreign service income may also be exempt if IRAS conditions are met, including a headline corporate tax rate of at least 15% in the foreign jurisdiction. An audit is not mandatory for a private company that qualifies as a “small company”. It must stay within at least two of three limits for each of the two immediately preceding financial years: annual revenue of S$10 million, total assets of S$10 million and 50 employees. A company that is part of a group also needs its whole group to meet this test on a consolidated basis, and a newly incorporated company is assessed against its current financial year alone.
Financial sector regulation is carried out by the Monetary Authority of Singapore (MAS) — the central bank and unified financial regulator of the country. ACRA (Accounting and Corporate Regulatory Authority) is the national regulator of business registration, financial reporting, public accountants and corporate service providers.
Case Study
Our Experts
The COREDO team has been operating since 2016 and possesses deep expertise in company formation in Singapore and other Asian jurisdictions.
Frequently Asked Questions
The COREDO team will help you register a company in Singapore quickly and without unnecessary complications. Submit your enquiry and our specialists will contact you to discuss the details.
