According to Singapore laws, a private limited company must have a minimum of one shareholder. Otherwise, they have options of starting either a sole proprietorship or a partnership for simplified business setups.
Foreigners can set up a company in Singapore by securing a work pass, appointing a local director, and following ACRA’s guidelines. While access to grants and financing can be limited, proper planning enables a strong business presence in Singapore.
新加坡以低税率、优质营商环境和高生活质量吸引企业家设立公司。注册流程包括公司名称检查、在ACRA注册，以及获取必要的行业许可证。
公司和品牌名称为企业的成功奠定基础，因此在成立公司前选择名称非常重要。名称必须独特、积极、有商标可注册性，并易于记忆和使用。确认名称可用后，向会计与企业管理局（ACRA）申请注册。在使用银行、保险等字眼时需额外审批，公司名称最多可保留120天，符合规定才可获得批准。
在新加坡成立公司，无论本地人还是外国人，都需遵循ACRA的注册要求。流程包括确认公司名称、提交必要文件、签署注册文件及开设银行账户。外国人需检查是否符合就业准证或ONE准证的申请条件，并可能需任命代理董事。新加坡政府还提供MRA补助金，支持中小企业的全球扩张，帮助符合条件的企业负担市场调研和业务开发成本。
Considering setting up a representative office in Singapore? Find out more in this article for permitting activities, requirements, documents and timeline for a successful establishment.
Redomicile is a process where foreign corporate entity transfers it registration from original jurisdiction to Singapore jurisdiction. Understand the requirements, eligibility, steps, and discover the benefits of establishing your business in Singapore, a thriving global hub.
Get your answers to the common questions that SMEs ask when applying for the MRA grant - from eligibility, reimbursement, calculations, and more.
Singapore remains a top destination for holding companies, offering international investors strategic advantages like favorable tax policies and a strong legal framework. This guide provides essential insights for foreign entrepreneurs looking to establish and manage a holding company in Singapore.
Discover how to secure funding for your Singapore startup. Understand the funding stages, challenges, and strategies to successfully raise capital.
A company is deemed exempt from audits in Singapore, which means these companies will not need to appoint an auditor to have their accounts audited. However, they need to qualify to be a ‘small’ company based on at least 2 of these 3 criteria:
Despite such small companies are exempt from auditing, they still need to prepare accurate financial statements that comply with the standards in Singapore.
Auditing Practices in Singapore
ACRA
ACRA is Singapore’s business regulator. It ensures a trusted business environment by overseeing companies, accountants, and corporate service providers. Its functions include registration, financial reporting, auditing, governance, and disclosure. ACRA’s online platform, BizFile+, simplifies business processes.
IRAS
IRAS is Singapore’s tax authority. It assesses, collects, and refunds taxes. IRAS also educates taxpayers and investigates non-compliance. The MyIRAS portal offers online tax services.
Auditing in Singapore
In essence, ACRA sets the rules, and IRAS enforces them. Both agencies work together to maintain the integrity of financial reporting and ensure that companies are operating within the law. This is essential for investors, lenders, and other stakeholders who rely on accurate financial information.
Paul Hype Page provides you with strategic business expansion and business compliance services for over 2 decades, servicing the best of the South East Asia region. We make your entrepreneurial experience seamless for both locals and foreign expats.
We can issue an IRAS-approved audit report that meets both the Singapore government’s requirements and your company’s needs. The audit function of your company is in good hands with our professional Singapore-certified auditors.
If you are a foreigner, you will need a nominee director (local director) to incorporate your company in Singapore.
What is a Nominee Director?
Nominee director is an individual who is appointed to act as a director of the company on behalf of another individual or entity. For all foreigners establishing businesses in Singapore, having a nominee director is essential due to regulations from the Accounting & Corporate Regulatory Authority (ACRA).
Here are suitable nominee director services for EP holders in Singapore, allowing the company to transfer ownership to you once your Employment Pass (EP) is approved:
If you are a foreigner, you cannot be the director of the company unless you have an Employment Pass also known as an EP. This renewable work visa permits you to live and work in Singapore, whether you’re an employee, business owner, or anything in between.
It’s the most popular choice for foreigners looking to start a business or relocate to Singapore.
First, You will have to incorporate your company under the name of a local Singapore director (Nominee Director). Then, you will have to apply EPass under your company so that we can transfer the ownership to you under your Employment Pass (EP).
The estimated timeline for the Singapore EP application is between 2-4 months, depending on the case. In some instances, it could drag up to 6 months if multiple rounds of appeals are requested.
Singapore Employment Pass, often referred to as the ‘EP,’ a work visa is issued to foreign professionals, managers, executives, and experts relocating to work in Singapore.
You are eligible to apply for EP if you:-
Reasons to Apply for a Singapore Employment Pass
Are you a business owner in Singapore looking to expand your operations and reach new markets? Considering entry into a new market or expanding an existing one overseas? The MRA grant offers the financial boost you need to make it happen.
The purpose of the MRA grant is to support Singapore owned businesses for business development, promotion, and set-up costs when you set up a business in oversea.
At least 30% of the company’s equity must be held directly or indirectly by Singapore Permanent Residents (PRs) or citizens, determined by ultimate individual ownership.
The grant covers up to 50% of eligible costs for Local SMEs, with specific caps for different activities and limited to a maximum of S$100,000 per new market and may include:
Currently, from April 1, 2023 to March 31, 2025, the grant covers up to 50% of eligible costs, capped at S$100,000.
If you are planning to set up business in Singapore, opening a corporate bank account is a mandatory when you first incorporate a company. It also allow you to keep your business transactions separate from your personal transactions and also helps you to track your business cash flows/income and expenses.
We focus is to prove that your company has a tax substance and select an account that best fits your business needs. Most importantly, you DO NOT need to be physically here! We work closely with our trusted bankers to give you a higher success rate in opening a corporate bank account.
If you are a foreigner, you will need a nominee director (local director) to incorporate your company in Singapore.
What is a Nominee Director?
Nominee director is an individual who is appointed to act as a director of the company on behalf of another individual or entity. For all foreigners establishing businesses in Singapore, having a nominee director is essential due to regulations from the Accounting & Corporate Regulatory Authority (ACRA).
There are 2 types of Nominee Director services in Singapore.
They are:
If you are a foreigner, you cannot be the director of the company unless you have an Employment Pass.
First, You will have to incorporate your company under the name of a local Singapore director (Nominee Director). Then, you will have to apply EPass under your company so that we can transfer the ownership to you under your Employment Pass (EP).
What is Singapore Employment Pass?
Singapore Employment Pass, often referred to as the ‘EP,’ a work visa is issued to foreign professionals, managers, executives, and experts relocating to work in Singapore.
The estimated timeline for the Singapore EP application is between 2-4 months, depending on the case. In some instances, it could drag up to 6 months if multiple rounds of appeals are requested.
The requirements for registering a company in Singapore are simple and straightforward. They are:
