Incorporating a company in Singapore is a relatively quick process.

Companies with only local directors can be incorporated within a day. Companies with foreign directors can take a couple of days due to the need to perform KYC (Know your customer) requirements of ACRA.

It is pretty easy and straightforward to set up a business in Singapore. However, foreigners are encouraged to engage a registered filing agent like Counto to submit the incorporation application

It is important to note that while foreigners can own 100% of the shareholding, they will need to appoint a minimum of one local resident director (a Singapore Citizen or Permanent Resident). To stay compliant, you may hire a local nominee director.

The Singapore Companies Act requires all Private Limited Companies to have at least one director who is ordinarily resident in Singapore. This individual is often referred to as a local nominee director, nominee director or local director.

The local nominee director does not hold any shares of the company, and is not involved in the operational or financial management of the company. He/she is there to act in the best interest of the company and ensure that everything is in line with Singapore law.

Your company can have as many directors as you want—most importantly, at least one must be local. Eventually, you may opt to replace your local nominee director with a non-local director who has obtained an employment pass from your new company (which typically takes 6 months).

A local nominee director should be:

• A Singapore citizen or Permanent Resident
• At least 18 years of age

• An EntrePass or Employment Pass holder with a Letter of Consent (LOC) from Ministry of Manpower (MOM) before registering as a director

No, you do not need to be physically present in Singapore to register a company. You may appoint a local corporate service provider like Counto to assist with the incorporation process on your behalf. 

Your can check if the name has already been registered through BizFile. Do note that once you have registered your company name, ACRA will reserve it for up to 120 days.

• Company name
• Local resident director
• Minimum of S$1 worth of paid-up capital
• Singapore registered address
• Particulars of local company secretary
• Brief description of company activities
• Company constitution

In addition, you will need to prepare the following documents:

• Singapore residents: Copy of Singapore Identity Card (IC)
• Foreigners: Passport copy and proof of overseas residence (can be a bank statement, power or mobile phone bill).
• Corporate entity shareholder: A copy of registration documents such as Certificate of Incorporation and Memorandum & Articles of Association.

Absolutely. We can customize any package, including the company secretary plan, for your needs. Just begin a chat with us or Whatsapp us at +65 3129 5622 to learn more.

If your annual revenue exceeds S$50,000, we will bill you the difference in the price you see for your final revenue under the Annual Reporting plan (use the slider) and the base plan for S$50,000. For example, if your revenue is S$200,000 in the first year, we will bill you an additional S$500 (S$1,350 – S$850).

You can always switch from Annual Reporting to Monthly Reporting plan by paying for the price difference. Note that all plans are based on a financial year basis.

Counto has partnered with a number of expert firms in Singapore to tackle the needs of non-resident entrepreneurs. Talk to us and we can help craft an affordable package for you.

No, we do not. If you abandon the company and abscond, we will move to strike off the company and pursue legal means for recovering our charges.

Singapore has a flat corporate tax rate, which applies to both local and foreign companies. The standard corporate tax rate is typically 17%. However, Singapore offers various tax incentives and exemptions for specific types of income and industries, which may result in a lower effective tax rate.

Corporate income tax in Singapore is based on the company’s chargeable income, which is derived from its total revenue and deducting allowable expenses, capital allowances, and tax incentives.

You can incorporate a company in Singapore with just one shareholder. The maximum number of shareholders allowed is 50.

Yes, a foreign company can open a subsidiary in Singapore. This subsidiary can be wholly owned by the foreign parent company, subject to compliance with local regulations and requirements.

Yes, you can conduct e-commerce and online business activities in Singapore. Singapore is a hub for digital commerce, and there are no specific restrictions on e-commerce businesses. However, you should still comply with applicable laws and regulations, such as data protection and consumer protection laws.

Yes, Singapore has an extensive network of double taxation treaties (DTTs) with many countries. These treaties can help reduce or eliminate double taxation of income and provide other tax benefits to foreign-owned companies.

Choose a business entity, register your company name with ACRA then set up a business bank account.

Singapore requires a minimum capital of S$1 to start a business.

Yes! Your plan includes live support. You may initiate a chat with us using the chat bot on our website anytime. Alternatively, you may reach us through email service or our customer service hotline. Your call will be automatically routed to your dedicated Customer Success Manager, who is readily available to help you out. Outside of normal business hours, our team typically responds in a few hours or less.