Question 1

Can a foreign individual or a foreign company be 100% shareholder of a Singapore company?

Accepted Answer

Yes, 100% foreign shareholding is allowed in Singapore.

Question 2

What are the requirements to register a company in Singapore?

Accepted Answer

For Singapore company incorporation, there are a few requirements. These include:

At least one shareholder which may be an individual or a corporate entity
One resident director (either a Singapore citizen, permanent resident, Employment Pass holder or a Dependant Pass holder)
One resident company secretary
Initial paid-up share capital of at least S$1, or equivalent in any currency
A physical Singapore office address, and cannot be a PO Box

Question 3

How do I decide on the Company’s Financial Year End (FYE)?

Accepted Answer

We would usually recommend our clients to fix the Company’s FYE on the last day of the 11th month since incorporation to fully maximise the tax exemptions that new start-up companies are entitled to for the first 3 years. After the first 3 years, you can then choose to decide to change your FYE to any other FYE you prefer. If the tax exemption is not of interest to you, you are able to choose whichever FYE that best suits your company right off the bat.

Question 4

Can Work Permit/ S Pass holders be the Director or Shareholder of a Company?

Accepted Answer

No, they cannot operate or manage any businesses in Singapore.

Question 5

What is the corporate tax rate in Singapore?

Accepted Answer

Singapore has a single-tier territorial-based flat-rate corporate income tax system.

Corporate Income Tax is assessed on a preceding year basis in Singapore. Singapore’s Corporate Income Tax is at a flat rate of 17% of its chargeable income. Chargeable income refers to your company's taxable income (after deducting tax-allowable expenses) for a Year of Assessment (YA). Learn more about taxable and non-taxable income and business expense:

- https://www.iras.gov.sg/taxes/corporate-income-tax/income-deductions-for-companies/taxable-non-taxable-income
- https://www.iras.gov.sg/taxes/corporate-income-tax/income-deductions-for-companies/business-expenses

Question 6

How long will the company incorporation take?

Accepted Answer

The application is usually processed within the same day after we have received all the documents and payment required. Note: The incorporation process may take between 14 days to 2 months if the application needs to be referred to another agency/ACRA for approval or review.

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