Why Open a Limited Company in Singapore
Singapore, the gateway to the vibrant markets of the far-east is a perfect place to live, play and work. Some of the common phrases about the city used by businessmen in Singapore are, “comfortably diverse,” “I love taxes here,” “safe living environment” and “cutting-edge business community.”
Singapore has a tremendous amount to offer the international business community, here are just a few of the reasons why to set up in this fascinating part of the world:
- Singapore is rated #1 in the world by World Bank for ease of doing business
- Singapore is ranked the third wealthiest nation in the world by Forbes magazine.
- Singapore has been ranked as the third most globalized economy among 60 of the world’s largest economies in the Ernst and Young Globalization Index
- Singapore is rated #1 as the most politically stable country in Asia
- Singapore is rated #1 as the best labor force in the world
- Singapore is rated #1 in Asia for quality of life
- Corporate tax rates are about 8.5% up to $300K profits and a flat 17% above that
- There are no dividend or capital gains taxes in Singapore
- There is no estate/death/inheritance tax in Singapore
- Personal tax rates start at 0% and max out at 20% above $320K
One major advantage of relocating your business to Singapore is its convenient location.Singapore is situated in the heart of Southeast Asia, making it possible for your business to access a market of 2.8 billion people in the far-east.
How we can help you set up in Singapore
Flying Formations a London based organisation can look after the complete process of the initial set up of your Singapore Company to the monthly Accountancy. With our wealth of business partnerships in Singapore we can ensure a fast, efficient service in setting up your Singapore Limited Company and Business Bank Account.
Setting up a company in Singapore is not completely straight forward and many legalities have to be acknowledged. For instance every Singapore company requires a Singaporean Registered Office and a Singaporean Company Secretary.
Singapore Company Secretary
We will help you put your idea in real business by setting up a private limited company, LLP, partnership or sole-proprietorship to execute it.
Our team of Certified Public Accountants (CPA) is able to offer you a wide range of specialised services, including Singapore Accounting services, to assist you in running your business.
Singapore Company Incorporation
Whether you are planning to register a new company or to incorporate a company. Getting reliable support and up-to-date information is vital to your business today.
With our experience in Singapore Company Incorporation, you can concentrate on developing your business idea. We support your business by making your first important process of Singapore Company Registration worry free.
Singapore Company Incorporation services cover:
- Completion of all forms from Accounting and Corporate Regulatory Authority (ACRA)
- Advice on the appropriate paid-up capital, directorships, shareholdings, registered address and your business activities code (SSIC code)
- Provision of Company’s Memorandum & Articles of Association
- Setting up online
Singapore Company Secretarial Services
Looking for a professional and reliable Singapore company secretarial service that allows you to have peace of mind while you run your business?
We attend to your requirements to eliminate the tedium of necessary paperwork for your business start up and help you to take care of the mandatory procedures for your business operations.
In essence, our corporate secretarial services include:
- Online filings to ACRA
- Extraction of instant Information from ACRA
- Liaison with bankers
- Preparation of Minutes and Resolutions for Boardand Annual/Extraordinary General Meetings for shareholders
- Maintenance of Statutory Registers Book (e.g. ofdirectors, members, managers, secretaries and auditors, share transfers) and Minutes Book
Singapore Accounting Services
Maintaining up-to-date and accurate records of all your accounting transactions is an essential part of a successful business.
We have qualified Accountants as well as professionally trained and well-experienced accounts personnel.
We provide Singapore Accounting and GST services support (at your site or from our office), by taking away the mundane yet important duties, such as:
- Filing of Singapore accounting records
- Posting of transactions
- Compilation of financial statements ie Profit & Loss Statement, Balance Sheet
- Preparation of schedules for auditor
- Bank reconciliation
- Advice on reporting systems
- GST registration, preparation and submission
- Preparation of special report for bank and other statutory bodies
Singapore Accounting duties can be provided on a monthly, quarterly, half yearly or annual basis.
Singapore Tax Corporate Business & Personal
In view of the existing Singapore taxation system,we provide professional Singapore tax advice on both corporate(business) and personal tax planning and other related matters.
In particular, we seek to identify Singapore tax-savings opportunities by advising on how you can obtain optimum Singapore tax benefits and make full use of Singapore tax incentives and reliefs.The Singapore tax and tax-related services that we provide include:
- Preparation and submission of Singapore Company Income Tax Return Form C and tax computation with schedules to the Comptroller of Income Tax
- Verification of Notice of Assessment issued by the Comptroller
- Filing of Estimated Chargeable income based on figures provided
- Verification of Section 44 Statement / Exempt Dividend account Statement
- Corporate and personal tax compliance
- Advice on withholding taxes
- International and cross-border tax planning(including tax haven country like BVI etc)
- Application for Singapore tax incentives
- Advice on Singapore income tax