The most common type of Singaporean company is Private Limited Company (abbreviated Pte Ltd).
In fact the statistics shows that almost all new companies are registered in Singapore under the
scheme Pte Ltd. In these popular Singapore Company shareholders can only be individuals and they
should not be more than twenty.
The bonus is that Singapore Offshore Limited Liability Company Pte Ltd is automatically exempt
from the statutory audit, if the annual turnover of the Singapore Company does not exceed 5 million
Singapore dollars. Those who could not or would not exceed an annual turnover of 5 million
Singapore dollars, simply submit a declaration of solvency signed by a director and secretary of the
While Singapore Ltd. is a solvent, there even is no need to file financial statements to ACRA
(Accounting and Corporate Regulatory Authority of Singapore). The requirements to maintain
accounting records and prepare reports for Singapore companies with limited liability are retained.
Nine main advantages of registration a company in Singapore:
1. Newly registered Singapore company pay absolutely no income tax during the first three years
after the registration on the first $ 100,000 of profit. Three years after the Singapore offshore income
tax is paid as follows: income from $ 100,001 to $ 300,000 to pay a tax of 8.5%. On the earnings in
excess of $ 300,000 tax is paid at a rate of 17%.
2. In Singapore, there is no capital gains tax.
3. Dividends of Singaporean company paid to shareholders are not taxed.
4. Protect of your personal assets in Singapore is robust and reliable, thanks to banking secrecy and
confidentiality prescribed by the law of Singapore. Banks in Singapore are reliable and Singapore
dollar is one of the favorites for the long-term savings.
5. In Singapore, there is no control on foreign exchange transactions and there are no restrictions on
output of income from a country to another bank account.
6. Singapore companies provide an opportunity to obtain a permit residence in Singapore.
7. Digitalization of business. Even if you left the country, dialogue with various authorities and
government agencies in Singapore can be held online. You can even follow the news of different
state agencies of Singapore via twitter. For example, if you want to live in Singapore or get Entre
Pass, you also get your own password for communication with government agencies in Singapore -
SingPass. You can visit the site (www.singpass.gov.sg/sppubsvc) and read how to submit an
application and what it will do. If you need to file information in the ACRA, you can submit it
online via BizFile. You can use your FIN No. and SingPass to transmit the reports online.
8. Singapore companies do not cause any negative emotions of the bank officers around the world.
Conversely, bankers are confident when they see the documents for Singapore companies. Chances
that you will open a corporate bank account in the best foreign banks significantly increases, if you
come to the bank with documents of Singaporean company
9. Nonresidents in Singapore are not infringed. Nonresident in Singapore have all the right (but not
the responsabilities!) of resident companies or individuals.
Singaporean company is ideal for those who want to keep abreast of its foreign business. It`s hard to
find more pleasant place.