Why do business in Singapore?

#1 - Singapore's Pro-business Environment

Incorporating a company in Singapore is quick and easy. It only takes 1-2 days with the government providing assistance along the way.

#2 - Singapore's Tax System

Singapore has low effective personal and corporate tax rates. Personal income tax has a tier system that starts from 0% and rises up to 22% for income above S$320,000. Corporate tax rate for Singapore private limited companies for profits up to S$300,000 is below 9% and capped at a flat rate of 17% for profits above S$300,000. There is no capital gains tax in Singapore.

Singapore’s Goods and Services Tax (GST), currently at 7%, is one of the lowest GST rates, ranking below the global average VAT/GST rate of 16.4%, and the Asia-Pacific average of 10.5%.

#3 - Flexible Immigration Policies

The Singapore government has made appropriate Singapore work visa provisions for foreign nationals who wish to setup business here. In addition, Singapore also has immigration policies that make it easier for foreign professionals to gain Singapore Permanent Residence status.

All businesses in Singapore will need to comply with rules and regulations set forth by ACRA and IRAS. We at Assure Corporate Services, will assist you with the corporate governance and secretarial services in Singapore.

Our Corporate Secretarial Services Include:

• Incorporation procedures – Company name reservation, preparation of incorporation documents, etc
• Company Registered Office Services
• Nominee Director Services
• Safe custody of statutory records – keeping minute files and statutory registers
• Preparation of all documentation in connection with the routine Annual General Meeting, as required by the Singapore Companies Act, Cap. 50
• Preparation and electronic submission of the prescribed Annual Return as required by the Companies Act, to ACRA
• Liaison with auditors in respect of the statutory review of corporate secretarial records
• Attend to ad-hoc requests, including preparation of resolutions and lodgment of necessary report/return/ information with ARA, such as allotment of shares, opening of bank accounts, adoption of agreements, etc.
• Conversion of statutory financial statements to XBRL format for filing with ACRA