Singapore Private Limited Company

• Minimum: 1
• Residency Requirements: None
• Corporate Shareholder: Permitted
• Information of shareholder are accessible to the public

Minimum USD 1 (or equivalent in any currency)

• Minimum: At least 1 director who is ordinarily resident in Singapore
• Corporate Directors are not permitted
• Details of directors/officer are accessible to the public

Companies are required to appoint a resident company secretary, who must be a natural person.

Information on controllers, otherwise known as beneficial owners, is not accessible by the public and will only be made available to Singapore law enforcement agencies.

Yes, Company must appoint an approved local registered agent.

Each company must hold an Annual General Meeting (AGM) once in every calendar year and not more than 15 months after the holding of last preceding AGM. The first AGM must be held not later than 18 months from the date of incorporation.

• Singapore Companies are required to file an annual return together with their statutory financial statements (if applicable) within one month from the AGM date with ACRA via bizfile.
• Financial statements of the company must be audited except for dormant companies and private exempt companies that meet certain conditions.
• Singapore Companies which are either limited by shares or unlimited are required to file their financial statements in XBRL format.

• A company must appoint an auditor within three (3) months from its incorporation, unless it is exempted from audit requirements under the Companies Act
  • dormant companies with no accounting transactions for the financial year in question or which have not commenced business since incorporation; or
  • small private companies which fulfill at least two of the following criteria for immediate past two consecutive financial years: (i) total annual revenue of not more than S$ 10 million; (ii) total assets of not more than S$ 10 million; or (iii) number of employees of not more than 50

• A company must designate at least one data protection officer (DPO) in compliance with the Personal Data protection Act 2012 (PDPA)
• The PDPA does not set out where the DPO should be based, and the DPO is not required to be an employee of the entity and may be outsourced to a third party
• The DPO’s business contact information must be made available to the public and can be registered with ACRA

• A company is required to set up and maintain a register of registrable controllers (RRC) within 30 days after incorporation, unless exempted
• The RRC shall be subsequently lodged with ACRA within two business days after set up
• The RRC is only accessible by a company’s officers, ACRA, or Singapore Public agencies

• Taxation of income in Singapore is assessed on a territorial and remittance basis; only income accrued in or derived from Singapore, or income derived overseas but received in Singapore, is subject to tax
• Corporate tax rate is a flat 17% with a lower effective tax rate due to available applicable tax exemptions and incentives.
• Singapore resident companies can benefit from a broad treaty network of double taxation agreements and many government corporate tax incentive schemes and grants.
• Singapore resident companies are generally entitled to income tax exemptions on foreign sourced dividends, foreign branch profits, and foreign-sourced service income subject to meeting certain criteria.
• No estate duty
• No capital gains tax

Foreign companies being manage and control in the UAE are subject to UAE Corporate Tax and required to register within 3 months from date of incorporation.

Transfer of foreign company to Singapore is allowed

Approx 10-12 business days

Singapore Companies falls every first week of the month of incorporation