Key Benefits of Incorporating Your Company in Singapore

Singapore is a small country in Southeast Asia located strategically which makes the country more competitive than its neighbouring countries. Due to its highly attractive investment climate and stable political environment, Singapore often benefitted from foreign direct investment. There are several factors that make Singapore a very attractive place for incorporating your new company. These include:

2. Strategic geographical location

   Singapore has an excellent global transport network to serve the fast-growing markets of the Asia-Pacific region and beyond. It is one of the world’s most connected countries, strategically located along the world’s major trade, shipping and aviation routes. The country has more than 27 free trade agreements globally that allow you to trade freely and easily with major economies in the world. Financial institutions will also benefit from using Singapore as their regional or global hub as the country has over 80 Avoidance of Double Taxation Agreements.

   Singapore is also a magnet for global talent and a leading destination for business events and business travel. Singapore’s workforce is highly skilled and educated and consistently rated as  one of the world’s most competitive workforce. Further, the Singapore government is getting a lot more supportive in bringing highly skilled foreign talent.

3. A robust economy

   Singapore remains one of the world’s strongest economies amidst of global economic headwinds. Singapore has impressive recovery from the pandemic with total output exceeding pre-crisis levels. The country is a trusted partner for businesses as Singapore is anchored in political stability, low corruption rates, and transparent public institutions.

GDP in Singapore is expected to grow according to global macro models and analyst expectations. With China’s economy slowing, and tensions with the United States rising over its dealings with Taiwan and Hong Kong, foreign firms increasingly view Singapore as a key gateway to other parts of Asia.

4. Established infrastructure
   Singapore’s intense growth as a hub for Asian infrastructure finance and development has given it a strong ecosystem of banks, insurers, lawyers, and other specialists. These provides availability to meet the needs of international investors.

   Despite being ranked number one as one of the most expensive cities to live in, Singapore also ranked first across indicators of economic status, political stability, and ease of doing business. The country also scores highly as an investor-friendly tax environment.

5. Fast and simple incorporation
   Company registration in Singapore can take from just a few hours to weeks or even months. So by engaging our services, Accruplus Advisory can help you to incorporate your company quickly and efficiently. There are a few steps to register a company in Singapore:

Step 1: Singapore’s company registration requirements

• At least 1 shareholder For Singapore private limited company, you can have a maximum of 50 shareholders and all shareholders can be foreigners.
• Capital of at least SGD 1 You can increase your capital later on by injecting additional funds and notifying the company’s registrar
• At least one director who is a Singapore resident If you do not have a Singapore-resident person to act as an director, you can use our service to fulfill this requirement.
• Company secretary who resides in Singapore We can help you to appoint a company secretary when you set-up your company with us.
• A registered address in Singapore (office address) If you do not have any address to start with, we can help you to appoint our address as your company’s registered address when you incorporate with us.
• Business license (if required for specific industries) There are certain types of industry-specific licenses to be obtained before you can operate in Singapore. We can help you to comply with all requirements and prepare the necessary documentation.

Step 2: Decide on corporate structure and collect supporting documents

• Shareholders – Consider the number of shareholders and the percentage of shares each shareholder own.
• Directors – Number of directors, appoint at least one Singapore-resident director.
• Initial capital – Most company starts with small capital of SGD$100

Accruplus Advisory makes it EASY! Our team will learn about your Singapore company needs and tell you which documents would be required.

Step 3: Obtain approval for your company’s name

• Search for available unique, no trademark infringement, unreserved, and no obscene business names.

Once you engage with Accruplus Advisory, our team will apply for the approval of your desired company name. If it is not available, our team will propose other choices or apply for an appeal on behalf of your company.

Step 4: Sign Incorporation Documents

• After the company’s name has been approved, several documents must be prepared, signed, and filed with Accounting and Corporate Regulatory Authority (ACRA)

Our team will prepare the entire necessary document and all you need to do is review and electronically sign the documents through an online portal.

Step 5: Incorporate Company and open a bank account

Soon after the company is registered, Accruplus Advisory will recommend a suitable bank for your corporate by comparing different banks’ interest, rates, and also bank charges. Accruplus would also open a Digital bank account to better facilitate your corporate transactions.

• Once all the documents are ready and signed. ACRA will issue official documents:
• • E-certificate of incorporation: The certificate shows the company name, the date of incorporation, and the company registration number called the Unique Identification Number (UEN).
  • Business profile: The document shows the company’s structure, basic information on the company’s business activity, address, and shareholders’ and directors’ details.

Sample of ACRA approved Incorporation

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