Singapore

Singapore

Introduction
Located in Southeast Asia with more than 100 years of history being a British colony, Singapore nowadays is a major global hub for commerce, finance, and transport. It has political stability, sound economy and financial fundamentals, and client confidentiality standards. According to the World Bank’s recent report, Singapore offers the most favorable conditions to enterprises for incorporating an offshore company, thanks to a stable legal system, tax, and simple administration.
Private Limited Company is the best choice for a Singaporean offshore company.
Requirements
A Private Limited Company (PLC) in Singapore must follow below requirements on start-up and running.
There are some requirements needed to be satisfied to establish a PLC in Singapore:
1. Each PLC must have at least one shareholder who can be a local or foreign, individual or legal corporate entity.
2. Each PLC must have at least one local director. The local director may be a Singapore citizen, a permanent resident, or an employment pass holder.
3. Each PLC must have a local individual secretary who is a Singaporean citizen or resident and has responsibilities to maintain books of accounts subject to local audit requirements unless exempted.
4. Each PLC must maintain a local registered office in Singapore, which must be a physical address (rather than a post office box). This is normally where the statutory registers and records and the common seal are kept.
5. The minimum paid-up capital to incorporate a PLC in Singapore is S$1. There are not any other restrictions about capital.
1. In each calendar year, PLC’s shareholders are required to hold an annual general meeting (AGM). At the AGM, PLC’s financial statements (also called “accounts") will be presented before its shareholders, who may raise any queries regarding PLC’s financial position.
The AGM must be held within 4 months from Financial Year End for listed companies or within 6 months for other companies. PLC may vote to dispense with the requirement to hold annual general meetings.
2. PLC has an obligation to prepare financial statements each year, which must be in accordance with International Financial Reporting Standards. PLC’s financial statements must be audited unless exempted.
3. PLC must submit an annual return together with audited accounts to the Registrar of Companies. This must be accompanied by a copy of the financial statements unless PLC qualifies as a Solvent Exempt Private Company.
4. An annual tax return is also submitted with the Inland Revenue Authority of Singapore (IRAS).
Late filings will get penalized.
There is some PLC’s information that must be filed by the Registrar of Companies and are later available to the public: PLC’s shareholders, directors, secretary, chief executive officers, registered office address and registered mortgages and charges.
PLC must file copies of its financial statements, which will also finally become publicly available unless exempted.
Key Benefits  
Offering Packages
In order to assist you in establishing your offshore company in Singapore faster and more convenient, we offer you two packages Standard and Advanced with included services as below:
Services Standard Advanced
Company Incorporation Service Fee
Incorporation of Local Company Fee to ACRA
Local Registered Office Service 12 months 12 months
Local Secretary Service 12 months 12 months
Certificate of Incorporation
Company Business Profile from ACRA
Statutory Register of Directors, Secretaries & Members
Constitution of Company
Share Certificates to Shareholders
Minutes of First Board Meeting
Professional Consultancy via Phone and Email
Assistance on Opening of Company Bank Account  
Company Statutory Record & Company Kit
Total fee US$ 1,480 US$ 1,779
  Setup Company Setup Company
Services
Company Incorporation Service Fee
Standard
Advanced
Incorporation of Local Company Fee to ACRA
Standard
Advanced
Local Registered Office Service
Standard

12 months

Advanced

12 months

Local Secretary Service
Standard

12 months

Advanced

12 months

Certificate of Incorporation
Standard
Advanced
Company Business Profile from ACRA
Standard
Advanced
Statutory Register of Directors, Secretaries & Members
Standard
Advanced
Constitution of Company
Standard
Advanced
Share Certificates to Shareholders
Standard
Advanced
Minutes of First Board Meeting
Standard
Advanced
Professional Consultancy via Phone and Email
Standard
Advanced
Assistance on Opening of Company Bank Account
 
Advanced
Company Statutory Record & Company Kit
Standard
Advanced
Total fee (US$)
1,480          
1,779

Beside the company incorporation service, we also provide Offshore Bank Account Assistance of numerous banks in the world and Other Services necessary for any offshore company.
For any further questions, feel free to Contact Us for more details.