Getting started with Company Incorporation Services in Singapore
In a fast-moving world, Singapore is one of the easiest places for company incorporation. For entrepreneurs or businessowners looking 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 company 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, Margin Wheeler offers the right services to all your company incorporation needs.
Benefits of Incorporating A Company
In Singapore, company incorporation aids in protecting a business owner's assets from legal and financial risks. Other values that are in line with Singapore can benefit from an incorporated company include:
- Startup 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 (if startup tax exemption is not applicable)
- 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.
** Subject to the "system of lifting the corporate veil", Eg: Officer or Shareholders whom committed fraud.
How To Start A Company in Singapore
To complete the company registration procedure, ACRA, the Registrar of Companies in Singapore, follows a stringent process ensuring applicants comply with statutory obligations.
Businessowners can embark on this lengthy process or engage with our affordable yet professional services that will save time, money and most importantly, keep business accounts in compliance with the law.
Compared to filing for incorporation alone, for a fast setup process in Singapore, Margin Wheeler's company incorporation services will guide you through every step of the way.
Steps to Company Formation in Singapore
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 officially registered and skip the tedious business formation, vetting services, and processes with the help of our experts.
Our Promise in Company Incorporation Service
At Margin Wheeler, we offer a range of affordable service packages for company formation in Singapore. We help businesses realize the value of their entrepreneurial mission. Our company incorporation 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
- Constitution
- Business Profile
- 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.
Are Work Passes Required? (For Foreigners)
For companies with Foreign Directors residing in Singapore, application for either an Entrepreneur Pass or Employment Pass is required.
Foreign Directors who do not reside in Singapore do not need to apply for any passes.
No Singaporean Director? No Problem. (For Foreigners)
It is mandatory for Private Limited Companies in Singapore to have at least one Director who is a Singaporean or PR.
However, if you don't have a Local Director, we can be appointed as your Nominee Director for a small fee.
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 a business name application and $300 for company registration, which comes 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 affordable process, company incorporation services may be more complicated due to compliance requirements. 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 affordable 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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