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Whether you need to learn more about Singapore taxation or workpass, our library has you covered.
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Frequently Asked Questions
Browse the list of questions below to find what you are looking for.
You can check if a company is registered in Singapore by conducting a search on the Accounting and Corporate Regulatory Authority (ACRA) website.
ACRA is the national regulator of business entities in Singapore and provides an online search function to verify company registration details.
If you do it yourself through BizFile+ portal, the ACRA charges a flat fee of SG$15 for company name application and SG$300 for incorporation.
Using a professional service for incorporation may cost you between SG$400 and SG$1,200, but it provides peace of mind for statutory filings and saves you a significant amount of time and effort.
Your company can be setup within three hour if you have all the required documents in order.
The five most common legal structures for businesses in Singapore are:
- sole proprietorship;
- partnership;
- limited partnership;
- limited liability partnership (LLP), and
- private limited company (PTE LTD).
It's totally possible for a foreigner to opt for company registration in Singapore. According to Singapore Companies Act, 100% ownership of a Singapore company is permitted, either for a local person or a foreigner.
A foreigner can still be a director of an offshore company in Singapore though a native Singaporean director is still in need if the business wants to stay compliant with the law.
For our basic package, it will cost you about US$2,199 for a Singapore offshore company incorporation. Please be aware that the price may change according to the add-on service you choose for your business registration.
The city-state has many attractive aspects for business owners all around the world. A strong economy, low taxes, efficient processes, great connection to others countries, high standard human resources, and much more.
Here are the requirements for Singapore offshore company registration:
- At least 1 shareholder
- Capital of at least SGD 1
- At least one director who resides in Singapore
- Company secretary who resides in Singapore
- A registered address in Singapore
By definition, an employment pass is a work visa issued by Singapore's Ministry of Manpower, allowing professional employees, directors, and owners to be able to work and live in Singapore. This also means that the Employmentpass holder can also have the ability to open a company as a foreigner.
- At least one director and one shareholder
- At least one local resident director
- A local registered address in Singapore
Generally, there are no restrictions on company formation in Singapore, except for certain sectors such as financial services, education, media-related industries, or other politically sensitive businesses.
Singapore has an extensive investment protection agreement and double tax treaty network. This includes most countries in the Asia-Pacific Region and countries in Europe, Africa and the Middle East. These countries include China, Indonesia, Thailand, Malaysia, Philippines, Vietnam, India, Japan, Korea, Australia, New Zealand, South Africa, United Kingdom, Netherlands, Germany, Switzerland, Sweden, France, Belgium, Finland and the United Arab Emirates.
Singapore is also one of the very few countries to have a tax treaty with Taiwan. This explains the popularity of Singapore holding companies for Taiwanese investments into China and the region.
There are six main types of business entities you can set up in Singapore:
- Limited liability companies (including private limited companies)
- Partnerships
- Sole proprietorships
- Subsidiaries
- Representative offices
- Branches
When considering business incorporation in Singapore, it’s important to understand which entity type best fits your goals. Learn more about the exempt private company limited by shares and Holding Company in Singapore.
The filing of annual return Singapore is a mandatory compliance requirement for all companies operating in the country. Every business must submit its annual returns to the Accounting and Corporate Regulatory Authority (ACRA) and file annual tax returns with the Inland Revenue Authority of Singapore (IRAS).
In order to comply with local regulation, a private company has to maintain the followings:
- Corporate structure of at least one natural resident director, one shareholder;
- Local company secretary and a registered address in Singapore;
- Filing annual return with ACRA and tax return with IRAS together with annual audited accounts. The accounts must be audited by a registered certified public accountant in Singapore.
- Holding annual general meetings.
For more detailed information on Singapore's annual compliance requirements, refer to ComplyMate.
There are two cases where audit exemption is granted: small companies and dormant companies.
To qualify for "small company", a company must meet 2 out 3 following conditions:
- Its total annual revenue at the end of the financial year in question must not exceed SG$10 million;
- Its total assets evaluated at the end of the financial year in question must not exceed SG$10 million;
- Its total number of full-time employers on the payroll must not exceed 50.
- A company is deemed to be dormant if it has no accounting transactions for the financial year in question or has not started business since its incorporation.
A Singapore company is basically taxed for its profits, regardless of the sources. For the first three years, the company is levied from 0% to 17% depending on its incomes. After that, the tax rates are 8.5% and 17%, respectively for the first 300,000 SGD and the remainder.
The standard Singapore corporate tax rate is 17% on chargeable income. In 2025, companies will also receive a 50% tax rebate capped at SGD 40,000, while large multinational groups may be subject to a 15% minimum effective tax rate under the BEPS Pillar 2 rules.
Newly incorporated businesses can benefit from the Start-Up Tax Exemption (SUTE), which provides a 75% exemption on the first SGD 100,000 of chargeable income and a 50% exemption on the next SGD 100,000 during their first three years.
Companies that do not qualify for SUTE may claim the Partial Tax Exemption (PTE), offering similar relief on up to SGD 200,000 of income. In addition, various industry-specific incentives and tax relief schemes are available.
Learn more about Accounting, Bookkeeping & Tax Filing Services for Singapore companies.
In order to qualify for start-up exemption, a newly incorporated company in Singapore must satisfy below conditions:
- Be incorporated in Singapore (other than a company limited by guarantee**);
- Be a tax resident* in Singapore for that YA;
- Have no more than 20 shareholders throughout the basis period for that YA where:
- All of the shareholders are individuals beneficially and directly holding the shares in their own names; OR
- At least one shareholder is an individual beneficially and directly holding at least 10% of the issued ordinary shares of the company.
*A company is resident in Singapore if the control and management of its business are exercised in Singapore.
A minimum of one director (for both individual and corporate), who must be a Singapore natural resident is required. To fulfill this obligation, BBCIncorp could assist you in appointing a Singapore professional director. A foreigner who wants to register a new company in Singapore and act as a resident director of the company or operate the company, must first obtain a valid pass from the government.
The minimum of one shareholder is a must. Shareholders may be corporations or individuals. 100% foreign ownership is allowed. The maximum number of shareholders for a private company is fifty (50).
Names and addresses of company directors/shareholders are publicly disclosed.
The concept of authorized share capital has been abolished in Jan 2006 and the minimum number of issued share is one.
Some of the typical classes of shares include ordinary shares, preference shares and redeemable shares, non-voting shares.
Yes. Every entity must be attached to an identical business name. Your proposed name shall be rejected by the Company Registrar if it is found to be similar to other existing names in that jurisdiction of registration.
Naming requirements for registering an LLC can be varied according to each jurisdiction. Typically, the following criteria are applied widely in most incorporation countries:
- The name should not be the same as the name of other companies
- The name should not show offensive meaning or be opposed to the public interest as per the opinion of the Registrar
- The name should not contain in its name restricted words/expressions as prescribed in the company laws
The name must have suffixes corresponding to its type of business entity – i.e., “Limited” or its abbreviation “Ltd” for a limited liability company.
Trademark registration for your business name is a good choice if you want to add a stronger layer of protection to your registered company name.
You can try another entity name using our Free Entity Name Check to see if it is available. In case you need more practical advice on how to choose an eligible name, you can also talk to our consultants for help.
- Minimum one director and one shareholder.
- Local resident director(s).
- A local registered address in Singapore.
Generally, no restrictions except for financial services, education, media-related or other politically sensitive businesses.
In Singapore, it is mandatory for a company to file annual returns with Accounting and the Corporate Regulatory Authority (ACRA), and annual tax returns with the Inland Revenue Authority of Singapore (IRAS).
It's totally possible for a foreigner to opt for company registration in Singapore. According to Singapore Companies Act, 100% ownership of a Singapore company is permitted, either for a local person or a foreigner.
A Singapore company is basically taxed for its profits, regardless of the sources. For the first three years, the company is levied from 0% to 17% depending on its incomes. After that, the tax rates are 8.5% and 17%, respectively for the first 300,000 SGD and the remainder.
The tax system in Singapore is progressive, meaning that tax rates increase as income increases. The highest marginal tax rate is 22%, which applies to taxable personal income over SG$320,000. There are also a number of taxes levied on businesses, including corporate income tax, goods, and services tax (GST), and property tax.
Companies, regardless of their domicile status, that conduct income-generating activities in Singapore will be subject to a flat corporate tax rate of 17%. Qualifying start-ups can receive either a partial exemption or a 3-year exemption.
Generally, businesses are required to keep accounting records for a minimum of five years. However, there may be specific requirements for certain types of businesses, such as those in the financial sector.
Individual taxpayers can pay income tax in a variety of ways: GIRO, one-time payment, or 12-month interest-free installments. As for payment methods, you can either use internet/phone banking, SAM or NETS at a post office.
Paying corporate tax generally begins by filing the Estimated Chargeable Income (ECI) form with IRAS and ends with you paying the finalized corporate tax. We also offer tax filing services in Singapore should you want to expedite this process.
The deadline for filing your income tax return is April 15th for paper filing and April 18th for e-filing. If you're an employer, the deadline for filing your employees' taxes is March 15th.
When choosing an accountant, it's important to consider factors such as their qualifications, experience, and areas of expertise. You should also make sure that they're registered with the Accounting and Corporate Regulatory Authority (ACRA) and that they have a valid practicing certificate.
The audit process in Singapore generally consists of four main steps: planning the audit, performing the audit, reporting on the results, and follow-up. Planning the audit involves risk assessment and developing an audit strategy.
Performing the audit involves collecting and reviewing evidence to assess whether the financial statements are accurate. Reporting on the results involves issuing an opinion on the financial statements. Follow-up involves monitoring management's implementation of recommendations from the audit.
However, all of this doesn’t apply if you qualify for audit exemption under the state’s provisions.
A Singapore corporate secretary holds a pivotal role as a company officer, responsible for ensuring the company's compliance with statutory and regulatory obligations set forth by the Accounting and Corporate Regulatory Authority and other relevant government bodies in Singapore.
This role encompasses various responsibilities, all aimed at fostering corporate governance and adherence to the Companies Act.
- Filing and notifying the ACRA of annual accounts, and any particulars or status changes of the company/ directors
- Maintaining and updating documents such as statutory registers of the company, minutes books of meetings, etc.
- Arranging the company meetings; and
- Handling other important administrative matters
According to ACRA, every Singapore company must appoint at least one secretary within the first six months after incorporation. Section 171 (4) of the Companies Act also prescribed that the office of secretary shall not be left vacant for more than 6 months at any time.
The provision for a company secretary is mainly regulated by Section 171 of the Singapore Companies Act.
Overall, a company must appoint at least one secretary meeting the following criteria:- Being a natural person
- Having a principal place of residence in Singapore
- Having necessary expertise and qualifications to act as a corporate secretary
- Not being disqualified under Section 155B of the Companies Act by the Registrar
- Not being the sole director in case of a company having only one director
The shift from hiring a Singapore corporate secretary to using corporate secretary services has gained significant attention over the years. This is due to several notable reasons:
Cost efficiencyCorporate secretary services cost much less for the same in-house role. Thus, by outsourcing these duties, you can reduce unnecessary training, recruitment, hiring costs, and other expenses associated with the secretary.
ExpertiseQualified corporate secretaries develop a certain level of expertise. These experts are committed to getting your obligations fulfilled accurately and swiftly. For your company, this means achieving goals faster and avoiding mistakes that could hurt the business bottom line.
Less regulatory burdenOutsourcing the corporate secretary role relieves you from the stress of registration and compliance matters. This saves you a great deal of time and resources to focus on growing your business.
BBCIncorp's services help you fulfill the mandatory laws while saving costs on headcount and training.
Get in touch with us if you’re interested or need any help.
In Singapore, the terms "Company Secretary" and "Corporate Secretary" are often used interchangeably and refer to the same role within a company.
Both are used to describe the individual or entity responsible for managing and ensuring a company's compliance with legal and regulatory requirements such as holding AGMs, filing reports, and so forth.
Yes, you have the option to switch your Singapore corporate secretary service provider to BBCIncorp.
Here's how you can do it:- Begin by contacting our dedicated support team for assistance
- Once you've completed the service order with us, inform your current service provider of your intention to terminate the existing agreement
- Transfer the necessary company records to BBCIncorp
We will then appoint a new corporate secretary for your business within 60 days.
- Annual general meeting and minutes
- Preparation and submission of annual returns
- Statutory register maintenance and update
- Change of company details and company officers
The specific services may vary depending on the company's needs and the terms of the engagement.
Many businesses in Singapore choose to outsource corporate secretary services to ensure they meet their compliance obligations and maintain good corporate governance.
- Have acceptable qualifications including educational and professional background;
- Been offered a high-skilled job in Singapore;
- Been offered a monthly salary of at least SG$5000 or higher in proportion to your experience.
Applying for Dependant’s Pass is currently only available for an EntrePass holder, Employment Pass or S-Pass holder. If you hold an Employment Pass, your earnings should be at least SG$6,000 per month to apply for a Dependant’s Pass.
- Your legally married spouse;
- Your unmarried children under 21 years old.
A Letter of Consent is permission from the Ministry of Manpower for holders of Dependants’ Pass or Long-term Visit pass to work in Singapore. A holder of Dependant’s Pass can apply for a LOC if the main pass remaining validity is at least 3 months and dependants must have a job offer with a Singapore employer.
They're third-party organizations that serve as intermediaries between your businesses and the banks or financial institutions that process payments.
The 2 main things merchant services offer your business include:
- Enabling your business to take credit and debit card payments
- Making sure customers' card transactions are safe and secure.
There are several types of merchant services providers, including
- Banks
- Independent Sales Organizations (ISOs)
- Point-of-Sale (POS) system providers
- Payment gateway providers, etc.
Each type offers its own tools, services, and fees. Depending on the scale of your business, one model will be more expensive than another.
We're currently partnering with two big players in the field - Stripe and Paypal.
It normally takes 1 to 2 working days to approve your merchant account.
To get a detailed quote and offerings, feel free to contact our customer service team or click the "Contact us for pricing" button at the top of the page.
If your requirements extend beyond these options, don’t worry—we provide fully customizable solutions and will work closely with you to create a package that fits both your needs and budget
The refund policy will be applied according to the Terms of Services and Legal Agreement. We are committed to addressing issues swiftly and upholding customer rights.
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