Singapore Company

Like Hong Kong, Singapore has no offshore legislation. Corporate taxes are based on a “territorial” feature. If you wish your Singapore company to be non-taxable then you should have a bank account outside of Singapore, and do not remit funds into Singapore.

Singapore companies are relatively expensive, but overall it is an excellent jurisdiction. You will require a resident Singapore Director and a resident Singapore Secretary, so these add to the cost of the jurisdiction. The resident Secretary is included in our fees, the same as in Hong Kong, since the Secretary must perform a number of legal functions and is not just a “passive” Secretary. The “resident” Director can be provided by Maritime International Ltd. at an additional fee, or the client can provide a local Singapore resident, known to them, to be the “resident” Director.

The names of Directors and Shareholders are in the public record. It is important, therefore, if privacy is desired, that a nominee Shareholder is used. The nominee Shareholder will be provided by Maritime International Ltd. and a Declaration of Trust will be issued to the owners, declaring that they are the owners of the company and the nominee Shareholder operates under their direction. The nominee Shareholder is in the public record.

You will already have a resident Director, which is required under Singapore law. The resident

Director will then issue you a Power of Attorney (POA) to run the company. The resident Director does not sign on the bank account. The POA is not in the public record.

Singapore has a GST tax of 7%, which is included in our fees. Check other offers carefully.

Accounts must be kept by the company and submitted annually to the relevant government authorities. Audited accounts are not required if:

  • The company turnover is less than S$ 5 million.
  • The company has less than 20 shareholders.
  • There are no corporate shareholders.


Key Corporate Features

  • Location of Jurisdiction
Singapore – South East Asia
  • Official Language
English, Chinese, Malay and Tamil. English is widely spoken.
  • Political Stability
  • Residency Available
Yes, if desired.
  • Corporate Taxes
None, if no income is derived from Singapore sources.
Tax Information Exchange Agreements
  • Disclosure of Beneficial Owner(s)
 Yes, but Nominees may be used.
  • Time to Incorporate
24 to 48 hours.
  • Type of Offshore Company
Private Limited Company
  • Type of Law
English Common Law
  • Allowed Business Activities
Very few restrictions.
  • Registered Office
Required by Law –
  • Virtual Office Services
  • Change of Domicile
Not Allowed
  • Language of Documents
  • Corporate Seal
A metal corporate seal is mandatory (included in our fees).
  • Eligibility
Any person or company of any nationality, plus one Singapore resident.
  • Minimum Number of Directors
One Director must be a Singapore resident.
  • Disclosure to Authorities & Public
Yes, but Nominees can be used.
  • Residence Required
May Reside Anywhere. One Director must be resident in Singapore.
  • Resident Director Available
Yes. The resident Director, required by law acts as the nominee and issues the usual POA to the beneficial owner.
  • Location of Meetings
  • Local Secretary Required
Yes, must be a Singapore resident.
  • Local Secretary Available
Yes. Provided by Maritime International Ltd. –
  • Minimum Number of Shareholders
  • Maximum Number of Shareholders
20. Audited accounts are required for companies with over 20 shareholders.
  • Eligibility
Any person or company of any nationality.
  • Disclosure to Authorities & Public
Yes, but Nominees can be used.
  • Nominee Shareholders Available
Yes. Provided by Maritime International Ltd. –
  • Annual General Meetings
Required –
  • Location of Meetings
  • Minimum Number of Shares
  • Maximum Number of Shares
  • Bearer Shares Permitted
  • Classes of Shares Permitted
Ordinary shares, preference shares, redeemable shares and shares with or without voting rights. (No par value shares are not permitted).
Share Capital
  • Permitted Currencies
  • Minimum Paid Up Share Capital
SG$1.00 or US$ 1.00
  • Maximum Share Capital
  • Recommended Share Capital
SG$ 50,000 or US$ 50,000 (other currencies are permitted)
  • Requirement to be Paid Up
  • Keep Accounts/Company Books
  • File Accounts with Government
No, under certain circumstances.
  • Bank Account Location
Anywhere –
Brokerage Account
  • Exchange Controls


+248 252 5217

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