Singapore

The several possible business structures for individuals or international enterprises who wish to do business in Singapore are:

• Sole proprietorship/sole trader: This is the default business form in Singapore. It is usually only available to Singapore residents. As there is no separation between the business and the individual, they are taxed at personal income tax rates, and the individual has full legal and tax liability.
• Partnership: In a general partnership, individuals join together to run a business in Singapore. There must be at least two partners, and all have joint and several liability for the conduct of the business.
• Limited partnership: In a limited partnership, there is at least one 'general partner' with full liability, but there can also be one or more partners with limited liability.
• Limited liability partnership: In a limited liability partnership (LLP), all partners have limited liability.
• Private limited company: In a private limited company, the business has limited liability and is taxed according to corporate income tax rates. This is the most commonly chosen business form for international businesses setting up in Singapore.

• Private Limited Company: Generally preferred for most businesses due to limited liability protection, tax benefits, and easier access to funding.
• Benefits: Limited liability, credibility, favorable tax treatment, and easier to raise capital.

• An exempt private company: Allows a maximum of 20 shareholders and does not allow corporate shareholders.
• Private company limited by shares: Permits up to 50 shareholders and allows corporate shareholders.
• Private company limited by guarantee: Has no share capital or shareholders and is usually set up for charitable purposes.

• At least one director must be a natural person.
• Must be at least 18 years of age.
• Must not be disqualified from directorship.
• At least one director must be a local resident of Singapore (citizen, PR, or EntrePass holder).

All directors must be natural persons. However, foreign companies can appoint a nominee director who has full legal responsibilities under Singapore law.

All Singapore companies must appoint a company secretary within six months of incorporation. The secretary handles regulatory filings and compliance responsibilities.

A Singapore-exempt private limited company must have at least one shareholder and a maximum of 20. Private companies limited by shares may have up to 50 shareholders.

Yes, but it must be registered as a public company.

The minimum share capital required is S$1, and it can be in any currency.

Yes, but at least one share must have full voting rights.

Yes, all shareholders in a Singapore company can be foreigners.

Yes, foreign companies can be shareholders, subject to disclosure of beneficial ownership to ACRA.

Yes, company names must be approved by ACRA before incorporation.

No, name approval does not grant trademark or intellectual property rights.

Corporate tax is charged at 17%. Companies with a permanent establishment in Singapore are subject to corporate income tax.

Companies with an annual taxable turnover exceeding S$1,000,000 must register for GST. The current GST rate is 7%.

• Company Name approved by ACRA
• At least one Singapore resident director
• Minimum one shareholder (maximum 50)
• Registered local address
• Minimum share capital of SGD 1
• Appointment of company secretary within 6 months

• Directors: Minimum one Singapore resident director
• Shareholders: Minimum one, maximum 50

Minimum authorized capital of SGD 1.

• Passport and proof of address
• Proposed company name
• Company constitution
• Registered address proof
• Director and shareholder consent

Accounting and Corporate Regulatory Authority (ACRA).

Typically 1–2 days if all documents are in order.

• ACRA incorporation fees ~ SGD 300
• Professional service fees
• Additional compliance-related costs

Yes, a local registered office address in Singapore is mandatory.

While not mandatory, opening a business bank account is essential for operations.

• Annual returns filing with ACRA
• Annual tax filing with IRAS
• Maintain compliance records and statutory updates