Singapore is one of the best places to run a business and a popular destination for businesses looking to expand into Asia. The country offers a stable political and economic environment, a skilled workforce, and a strategic business-friendly location in the heart of the region. Our Singapore Company Formation Package includes everything needed to incorporate a Singapore private limited company with a local nominee director or with an employment pass.
If you are considering incorporating a company, Singapore is a great option. The country offers a number of advantages that can help your business succeed and we can get you started.
Singapore Company Formation with Nominee Director
£3,000 /pa*
Our Singapore company formation with nominee director package is popular for foreign entrepreneurs who do not currently live in Singapore and require our Nominee Director service.
- Local Singapore nominee director
- Company registration
- Bank account setup assistance
- Company secretary
- Singapore registered address
- Annual financial statements and corporate tax filing
- All government fees
Singapore company formation with Employment Pass Visa
£2,800 /pa*
Our Singapore company formation package with Employment Pass Visa is suitable for foreign entrepreneurs who plan to move to Singapore and obtain an Employment Pass visa.
- Employment Pass Visa application for one individual
- Company registration
- Bank account setup assistance
- Company secretary
- Singapore registered address
- Singapore local nominee director (for six months)
- Annual financial statements and corporate tax filing
- All government fees
* Please note that we are registered for vat. Our prices are subject to 20% vat (unless you are based outside UK). One off package price does not include ongoing service or maintenance, these services are available separately. ** For a Revolut bank account, the ultimate beneficial owner must be the account holder.
Our Singapore company formation packages are all inclusive
- Company incorporation: We will prepare all necessary paperwork and register your Singapore private limited company with ACRA, the Singapore company registrar.
- Company secretary: We will provide a company secretary service for 1 year. Singapore company law requires each company to appoint a local company secretary.
- Registered address: We will provide a registered address service for 1 year. Singapore law requires a local address for each company. We will use our prestigious office address as your company's registered address.
- Bank account assistance: We will provide assistance for opening your corporate bank account with a reputable Singapore bank from our panel of partner banks.
- Government fees included: The package includes applicable government fees. NO HIDDEN FEES.
- Annual return filing: We will file your company's Annual Return with ACRA. Singapore law requires that every company must file this return annually.
- Nominee director: We will provide a nominee local director service for 1 year (if you select the Nominee Director Option as explained in the Note below). Singapore company law requires each company to appoint at least one local resident director.
- Employment pass: We will process your Employment Pass application (if you select our Employment Pass Option as explained in the Note below).
Top 10 reasons to incorporate a company in Singapore:
- Ease of company incorporation: Singapore is one of the easiest countries in the world to incorporate a company.
- English as the medium of communication: English is the official language of business in Singapore.
- Strategic location: Singapore is located at the heart of Southeast Asia, giving companies access to a growing market of over 600 million people.
- Complete company ownership: Foreigners can own 100% of a company in Singapore, providing full control over the business and its operations.
- Low corporate tax rate: The corporate tax rate in Singapore is currently 9%. Profits over S$200,000 are taxed at 17%, one of the lowest rates in the world.
- Extensive double tax treaties: Singapore has double tax treaties with over 70 countries, helping to reduce the amount of corporation tax paid.
- Talent hub: Singapore is a major talent hub in Asia, with a well-educated and English-speaking workforce.
- No restrictions on movement of foreign currency: There are no restrictions on the movement of foreign currency in Singapore.
- Open economy: Singapore has a free and open economy. This makes it easy for companies to do business in the country.
- Government support for businesses: The Singapore government provides a variety of support programs for businesses, including grants, loans, and tax breaks.
Please note:
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- Each year you will need to renew your services
- The Nominee Director Option is available for foreign shareholders who do not meet the Singapore residency requirements.
- The Employment Pass Option is available for foreign directors who do not meet the Singapore employment pass requirements.
- A Singapore visit is NOT required to set up the company or apply for a bank account.
- The company registration process takes about 1 week from start-to-finish.
- The bank account application process takes about 1 day for locally owned companies and 3-4 weeks for foreign-owned companies.
- In the event a corporate shareholder is required an additional fee of £400 will apply for conversion of financial statements into XBRL format as required by Singapore law. (This applies to renewals only.)
Singapore Company Formation Frequently Asked Questions
A:The following supporting documents will be required when incorporating a company in Singapore. All documents must be in English or translated into English.
Individuals
- Passport copy
- NRIC copy for Singapore citizens and PRs (or FIN card for Singapore work pass holders)
- Residential address proof (for example, a driver’s license, a recent utility bill, rental agreement, etc.)
- Brief professional background. This can be in the form of a curriculum vitae (CV), resume or link to the person’s LinkedIn profile.
Corporate Shareholders
- Certificate of Registration issued by the Registrar of the jurisdiction where the company is registered
- Company Extract that contains the following information:
- Company’s name, registration number, registered address and primary business activities
- Paid-up Capital of the company
- Particulars of Shareholders and Directors
- Authorised Person Resolution passed by the director(s) of the shareholding company that includes the following:
- Decision of the shareholding company to hold shares in the proposed Singapore Company
- Appointment of an Authorised Person to sign the Singapore Company formation documents on behalf of the shareholding company
- Ownership structure chart or information that identifies the key UBOs of the shareholding company. For each key UBO, we will need the documents as listed under For Individuals above.
Please note that these are the general requirements for supporting documents. The specific documents required may vary depending on the circumstances. For more information, please contact our company formation team.
A:The company incorporation process in Singapore can be completed in as little as one day, but it may take longer depending on how quickly you can provide the necessary documents and sign the incorporation documents. You do not need to visit Singapore in order to incorporate your company.
For foreign-owned Singapore companies, the process of opening a bank account can take about 2-4 weeks. This is due to the fact that banks need to verify the identity of the company's shareholders and directors. In most cases, you will not need to visit Singapore in order to open a bank account.
If you are also applying for an Employment Pass (EP), the processing time is about 3-4 weeks. The EP is a work visa that allows foreign nationals to work in Singapore.
Here is a summary of the timeline for incorporating a company in Singapore:
- Company incorporation: 1-3 days
- Bank account opening: 2-4 weeks
- Employment Pass application: 3-4 weeks
Please note that these are just estimates and the actual processing times may vary.
A:We work with all major banks in Singapore, but only OCBC, UOB, and DBS allow for remote bank account opening at present. Other banks require that you visit Singapore in person to open a corporate bank account for your company.
Here is a more detailed explanation of the different options for opening a corporate bank account in Singapore:
- OCBC, UOB, and DBS: These three banks allow you to open a corporate bank account remotely. This means that you can apply for an account online or over the phone, and you will not need to visit a branch in person.
- Other banks: Other banks in Singapore require that you visit a branch in person to open a corporate bank account. This is because these banks have more stringent requirements for corporate account holders, such as requiring a minimum deposit amount or a certain level of business activity.
A:No, our nominee local director does not play any role in operating the company. They are appointed solely to satisfy Singapore's regulatory requirements.
You will need to appoint your own executive director(s), who do not have to be residents of Singapore and can reside overseas. Your executive director(s) will be fully responsible for operating the company.
Singapore's Companies Act and common law impose the same obligations and responsibilities on a nominee director as on a regular director. This includes ensuring that the company's statutory books are maintained correctly, its regulatory filings are done in a timely manner, accurate accounting records and annual accounts are maintained, shareholders and directors meetings are conducted in accordance with the law, and their fiduciary duty to the company is honoured at all times in all their official actions. Therefore, as a director of the company, the nominee director must act as a fiduciary of the company and ensure that the company always acts in compliance with the law.
A:You do not need to pay a salary to our Nominee Director. Instead, you will pay an annual service fee.
The service fee covers the cost of our Nominee Director's time and expertise, as well as any administrative tasks associated with their role. It also helps to ensure that our Nominee Directors are properly compensated for their work.
A:Yes, if you are a shareholder of a Singapore company and want to relocate to Singapore you will need an Employment Pass Visa:
- What's an Employment Pass Visa?
- This visa is for shareholders who are employed by the company.
- You can apply for an Employment Pass after 6 months of company incorporation.
- To qualify for an Employment Pass, you must meet the following criteria:
- Have a university degree or equivalent.
- Have a minimum of 3 years of relevant work experience.
- Earn a salary of at least S$4,500 per month.
CG Incorporations Limited
As a goal-oriented executive, I was looking for a corporate secretarial firm that shared my business values and could deliver high-quality results quickly. Your key attributes—including a user-friendly web interface with innovative technology, a knowledgeable team, and a can-do attitude—persuaded me to engage your services.
I was a bit sceptical about the promises and statements made on your website, but after having used your services to set up my Singapore company, I can confirm that the positive statements about the quality and speed are not exaggerated. I contacted you on a Sunday and got an immediate response. By Wednesday, my company was ready to go!
Thank you for delivering excellent results. Your support and guidance throughout the whole process has been exceptional. I have already recommended your services to a friend of mine and will undoubtedly do it again!
Bill Knibb
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