Why wanting to set up a company in SG?
Erode from high tax rates in your country , Obtain SG Permanent Residence (PR) , Engage in business prohibited in your country but allowed in SG , Make investments and so on .
Despite any of these reasons, RTF experts have the right foundation, solutions and guidance for you to step in SG.
Setting up a private limited company (Pte Ltd) in Singapore takes only 1-2 weeks and the registration procedures can only be completed into 6-8 steps.
- Step 1 : Check availability of company name
- Step 2 : Find the appropriate business codes (Singapore standard classification code SSIC)
- Step 3 : Apply for the company name
- Step 4 : Prepare, sign and submit relevant documentations to the company registrar
- Step 5 : Receive the company incorporation approval
- Step 6 : Apply for any special permits/licenses if required
- Step 7 : Open the corporate bank account
- Step 8 : Register the company's auditor for corporate shareholding
Are you an individual or a corporate investor ? Find the application documents checklist below.
IndividualShareholding
- New Company Name
- Brief Description of Business Activities
- Amount of registered capital and share distribution, if applicable
- New Co. Shareholders Particulars (Copy of passport and overseas
residential addressproof)
- New Co. Directors Particulars (Copy of passport andoverseasresidential address proof)
Corporate Shareholding
- New Company Name
- Brief Description of Business Activities
- Amount of registered capital and share distribution, if applicable
- New Co. Shareholders Particulars (Business License copy, Company's
AOA and legal representative copy of passport and address proof)
- New Co. Directors Particulars (Copy of passport and overseas
residential address proof)
Did you know that SG requires every company to have a locally company registered address, a Singapore citizen director and a Singapore citizen secretary? Do no worry RTF can provide you with all these retainer services.
What are the basic tax implications?
CIT : Get tax exemption on your company first 300,000 SGD of profits for the first 3 years and pay the normal 17% CIT rate on the remaining portion
Tax Exemption on First $300,000 of Chargeable Income
Chargeable Income
% Exempted from Tax
Amount Exempted from Tax
First $100,000
Next $200,000
100%
50%
$100,000
$100,000
The maximum exemption to be enjoyed is $200,000 ($100,000 + $100,000).
GST : Pay GST on import of goods and collect GST on all supplies of goods and services in SG only if your turnover is over 1 million SGD
Income Tax on Foreign Individuals in Singapore
Finally , why choose RTF as your partner?
- RTF is familiar with both the Chinese and Singapore financial and tax law system
- RTF can provide you with the whole complete set of service ALL IN ONE from transfer of capital to SG, Co set up in SG, accounting and audit, EP, PR to funds repatriation back to China/other countries
- RTF can help you deal with fund repatriation or profits distribution to SG with NO TAX burden at all
- RTF can help you to transfer your money back to China/other countries WITHOUT ANY TAX implication at all
Overall you are in good hands with RTF
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