The Need for Company Formation Services in Singapore
In a fast-moving world, Singapore is one of the easiest places for company formation. Those who decide to set up business in Singapore must make several decisions to give their businesses a competitive edge in the flooded market. It is crucial to understand that in Singapore, for a proper company formation, it needs to be registered with ACRA – registering a business is part of the incorporation process.
From choosing a company name to appointing a director or nominee director, the process of registering, incorporating, and eventually forming a company that is recognised as a legal identity requires a thorough fulfilment of various regulatory requirements. To expedite your Singapore company incorporation, company formation services by incorporation specialists are therefore necessary for fast business set ups in Singapore. For company formation that complies with the rules and regulations of various authorities, it is thus recommended to take up corporate services offered by Margin Wheeler.
Benefits of Singapore Company Incorporation
In Singapore, company incorporation aids in protecting a business owner’s assets from legal and even financial risks. Other salient values that are in line with Singapore company incorporation that can be benefitted from Margin Wheeler’s fast company incorporation services include:
- Tax Exemptions (75%) on the first $100,000 and (50%) on the next $100,000 net profit amounting to $125,000 Tax Exempted for the first 3 years.
- Partial Tax Exemptions (75%) on first $10,000 and (50%) on next $190,000 of net profit amounting to $102,500 Tax Exempted for the first 3 years.
- Limited Liability (Limited to pay up compensations only up to your indicated paid-up capital)
- Personal Assets of Directors or Shareholders will not be implicated.
Everything You Need to Set Up Your Business in Singapore
To successfully complete the incorporation procedure, ACRA, the Registrar of Companies in Singapore, follows a stringent process ensuring applicants comply with statutory obligations. This requires several steps to be taken by businesses for proper establishment. This tedious process can be embarked upon by the business owner or by engaging our cheap yet professional Singapore company incorporation services. Compared to filing for incorporation alone, for a fast set up process in Singapore, it is recommended to purchase company incorporation package services that will guide you through every step of the way.
Steps to Singapore Company Formation
For fast Singapore company incorporation, there are a few requirements. These include:
- An approved company’s name and principal activities
- Company’s directors and shareholders
- Registered office
- Company secretary
- Possession of a minimum paid-up capital
Let Margin Wheeler handle all your business incorporation documents and processes that comply with the rules and regulations of authorities like ACRA. Take the efficient and seamless route of having your company be officially registered and skip the tedious business formation, vetting services, and processes with the help of our experts.
Our Fast Company Formation Service
At Margin Wheeler we offer a range of cheap service packages for Singapore company formation. To help businesses realise the value of their entrepreneurial mission, our Singapore company formation services include:
- Disbursement to ACRA and Government Fees (Over $300)
- 1 Year Company Secretarial Service (Worth $500)
- Company Name Search
- Reservation of Company Name
- Preparation of Registration Forms
- Appointment of Named Secretary
- Business Profile
- E-Certificate of Incorporation
- 1st Board Meeting
- Company Share Certificates
- Facilitating the opening of Bank Account
- Advisory on Compliance Requirements
- Auto Email Filing Reminder
- Unlimited Incorporation and Company Secretary Advices
- Minutes for Annual General Meeting
- Maintenance of Register of Registrable Controllers & Nominee Directors (ACRA requirements as of December 2020)
- Free Courier Service for Signing of Incorporation Documents
- 12 Months Registered Address at WCEGA Tower (Additional $180)
- Exclusive Relationship Manager attached to each Company.
Interested in incorporating your company, but not a Singaporean or PR?
The requirements are a little different if you aren't a Singapore Citizen or PR. Please check out our fast company incorporation services for expats instead!
Frequently Asked Questions About Setting Up A Business In Singapore
All businesses in Singapore must be registered with the Accounting and Corporate Regulatory Authority (ACRA) – with a few exceptions. Before doing so, you should first consider the business structure which would best serve your company’s objectives, whether it would be a sole proprietorship or incorporation to form a limited liability entity. The documents and information required for registration differs depending on your business formation. Once you have gathered the required information, you can then make an online application via the BizFile+ website.
Incorporating a company is different from forming a sole proprietorship or partnership. It is a legal entity, separate and distinct from its shareholders and directors. In Singapore, ACRA charges a fee of $15 for business name application, and $300 for company registration – which comes up to $315 in total administrative fees. While this may be slightly more costly than other business structures, registering as a company offers several benefits such as tax exemption for start-ups. Despite the fast and cheap process, company incorporation may be more complicated due to compliance requirements, so you may wish to engage in the company formation services offered by trusted professional firms like Margin Wheeler.
With many legal and accounting terms, compliance requirements and documents to prepare, incorporating a company in Singapore can be a daunting process for many business owners. By outsourcing this to a professional service provider, you can free up precious time for you to focus on building your business. Apart from this, you can also enjoy fringe benefits such as receiving incorporation and company secretary advice – which adds value to your business. At Margin Wheeler, you will find a range of cheap service packages to help you with your company formation.
Engage Our Service
..and get 1 Year Company Secretarial Service (Worth $500) FREE!
Thinking about incorporating a company in Singapore? Click on "Incorporate Now" to fill up the form, or “Request a Callback” to speak with one of our executives about your options.
Lead Time For Service
1-2 Working Days upon receipt of all relevant information, subject to ACRA approval.
Compliance with Local Laws
Why do you need a Corporate Secretary?
Section 171 of the Singapore Companies Act, Chapter 50 requires ALL Singapore Companies to appoint a Singapore Company Secretary to handle ongoing statutory compliance matters.
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