Company Incorporation Service
Singapore Accounting and Business Services provide consultant and business advisement for clients who want to setup a new company in Singapore. We have work closely with our private banker to simplify and shorten the company formation process, and to open a corporate bank account for our clients.
A company is a business entity registered under the Companies Act, Chapter 50. It has a legal personality i.e. it has rights to own properties, it has perpetual succession and it can sue or be sued in its own name.
Singapore is an attractive location to start-up a business as it offers geographical benefits of location, political stability, efficient workforces, structure banking and financial system, and good logistics support. Besides, Singapore Government also offers transparent business policies and taxation system to all corporates. Company tax rebate are offer for new setup companies within the first 3 years of operations in Singapore.
For example, new companies incorporated in Singapore enjoy 3 years of 100% tax exemption of for first S$100,000 of their revenue, and not require to pay CPF if you are drawing Director fees.
There are few types of Companies commonly incorporate here.
• Private Limited Company Incorporation
• Partnership Incorporation
• Sole Proprietorship Incorporation
• Subsidiary Incorporation
1. Private Limited Company
This is the most common type of company incorporated in Singapore. A company corporate with 50 or less shareholders, and each shareholder has restricted rights in the share transfer. It enjoys the benefit of limited liabilities. This is the most common incorporation. It take only 1-2 to incorporate a private limited company with the preparation of company Memorandum & Articles and Association (MAA).
A Limited Liability Partnership where the individual partner’s own liability is generally limited. At least 2 partners, but no maximum limit on the number of partners. Partners can be individuals or body corporate (company or other LLP). Partners not personally liable for debts and losses of LLP incurred by other partners. At least 2 of the partners need to be above 18 years old and 1 Manager needs to be an individual ordinarily resident of Singapore and not disqualified under the Singapore Companies Act.
2. Partnership Company
There are few types of partnership companies can incorporate. However, the most commonly incorporated partnership company is Limited Liability Partnership.
• General Partnership
• Limited Partnership
• Limited Liability Partnership
3. Sole Proprietorship Company
Sole Proprietorship is a one person own company. Owner has unlimited liabilities, and personally liable for debts and losses of business. Owner require to be at least 18 years old, and need to appoint a local director if owner is not a Singapore citizen/ Singapore permanent resident/EntrePass holder.
4. Incorporation Subsidiary Company
A 'Subsidiary' company whose voting stock is more than 50% controlled by another company, usually referred to as the parent company or holding company. A subsidiary is a company that is partly or completely owned by another company that holds a controlling interest in the subsidiary company.
Our Services include:
• Free Consultation and professional advise
• Preparation of all the required document
• Company background due diligence check
• Company Name reservation and fee
• Company registration and incorporation inclusive of Registration fee and filing fee
• Provision of company register address service for 12 months
• Provision of corporate secretarial service for 12 months
• Provision of partner share certificates
• Provision of company profile & courier
• Assist on speedy opening of corporate bank account
• Provision of one free company common seal
• Provision of one free round pre-ink stamp