What is the Cost of Company Incorporation in Singapore?
The cost of company incorporation in Singapore is low. The Accounting and Corporate Regulatory Authority (ACRA) must be paid S$315 for name application and company registration; this total is fairly low when compared to similar payments elsewhere.
All company incorporation in Singapore is overseen by the Accounting and Corporate Regulatory Authority (ACRA). When a prospective Singapore company owner pays ACRA for the incorporation of a company, payments for the application for a company name as well as the fees for registration of the company must be made. The cost of company name application is S$15, while company registration costs S$300. However, it also ought to be mentioned that additional payments must also be made. Such payments are to be made for required elements of every company in Singapore. These include the hiring of a company secretary as well as the selection of a registered address. Companies which require the appointment of a nominee director for compliance purposes are also to pay for the services of the nominee director in question. All Singapore-based companies which employ foreign employees are also to pay for applications for any work visa which is valid in Singapore; the visa to be selected is dependent on the employee’s qualifications and salary.
On a related note, we at Paul Hype Page & Co provide packages which include completion of all the necessary tasks related to the incorporation of a Singapore-based company. By purchasing one of our incorporation packages, you can be assured that all of your needs related to the incorporation of a Singapore company will be fulfilled. Our fees for these packages are both affordable and reasonable. Thus, you will also not have to be concerned about spending an excessive amount of money during the process of company incorporation.
Why the Cost of Company Incorporation in Singapore Is Low
The primary reason behind the low cost of company incorporation in Singapore is due to the fact that the government of Singapore has always attempted to promote the level and standard of business activities conducted across the country. The Singaporean government is also very interested in attracting business owners and entrepreneurs from other countries to Singapore. The government also encourages these people to expand their business operations to Singapore because when they do so, the business activities which they conduct serve to boost the economic condition of Singapore by allowing greater amounts of revenue to come into the country. This is one reason why the Singapore government prioritizes foreign entrepreneurs and business owners when approving visas of foreigners who plan to live and work in Singapore.
If you are a foreigner who plans to obtain a visa so that you will be able to live and work in Singapore, contact us at Paul Hype Page & Co. We will enable you to receive the work visa which suits your needs. We will also contact the Ministry of Manpower on your behalf if you need us to do so. Once we are finished with the process, you will have a Singapore work visa of your own.