Entity Formation Services
Seamless and Professional Business Formation in Singapore
Entity Formation Services
Setting up a business in Singapore offers numerous opportunities and benefits. Our expert team at Bluebox is here to guide you through every step of the entity creation process. We ensure a seamless and compliant formation, tailored to your business needs, so you can focus on achieving your goals.
Company Registration
From choosing the right business structure to filing necessary paperwork, we are here to help you every step of the way
US LLC Registration
We provide efficient and reliable LLC registration services, ensuring a smooth process to help you establish your business in the US
Family Offices
We provide tailored Family Office Setup services, managing wealth and investments to ensure financial growth and legacy preservation for families.
Other Entity Formation Services
Explore the range of services we offer to elevate your business.
Commonly set up in a tax havens like the Cayman Islands, British Virgin Islands (BVI), Marshall Islands, Seychelles Islands, etc., where there are no corporate or personal income taxes, capital gains taxes, reporting requirements.
Should you consider an offshore incorporation?
Offshore Companies are only benefical to if you do business overseas and not in the country where your offshore company was incorporated. All incomes derived in and from the incorporated country are normally taxable. For example, a company in the British Virgin Islands, doing business in the British Virgin Islands, will be required to pay taxes in the British Virgin Islands. However, if the business was done in the USA or Hong Kong, the profits are not taxable.
Benefits of an offshore company
Here are some benefits of an offshore entity:
- Asset Protection
- Confidentiality
- Estate Planning
However, do keep in mind that these jurisdictions have also gained a negative reputation, especially after the “Panama Papers” expose, as many companies that are engaged in tax evasion or prohibited activities also tend to set up their companies in these countries due to the lack of oversight and compliance requirements. Thus, the authorities tend to scrutinize offshore entities more than regular entities.
How Bluebox can help?
We have been providing reliable and professional offshore incorporation services past 40 years and have helped our clients set up offshore companies in tax havens like the British Virgin Islands (BVI), Mauritius or Seychelles. Leave your offshore company incorporation concerns to rest and let our specialists to guide you throughout the incorporation process.
Redomiciliation is the procedure through which a company’s registration is transferred from one jurisdiction (country) to another. This is distinct from a corporation establishing an abroad branch or forming a subsidiary in another country.
From a corporate perspective, redomiciling may make sense. As previously stated, when a business transfers its domicile to Singapore, it remains the same entity; the only difference is that the firm’s place of formation shifts from an overseas nation to Singapore. This ensures complete company continuity, ensuring that goodwill, credit ratings, and track records are preserved. This is useful when the re-registered Singapore firm wants to obtain financing from Singapore banks or establish its track record in its field of competence in order to obtain a license.
Which companies qualify for redomiciliation into Singapore?
Requirements for the size
Your business would have to first achieve the minimum size requirement. This implies that at least two of the three requirements listed below must be met by your company:
- Over S$10 million in total assets
- Over S$10 million in annual income
- At least 50 people are employed.
Requirement for solvency
The necessity for solvency is the following criteria. Your business must be able to pay its obligations as they become due during the following 12 months of applying for redomiciliation. Your business must not be in liquidation, receivership, or any other form of insolvency.
Finally, your assets must surpass your obligations, ensuring that your net asset value does not go below zero.
Requirement for legality
Legality is the third key criteria. This indicates you’ve followed all applicable company law laws in your business’s original jurisdiction and aren’t attempting to redomicile to Singapore for a nefarious reason, such as defrauding creditors. Most importantly, your place of incorporation must have legislative mechanisms in place that allow businesses to relocate to another country. Several nations allow for two-way redomiciliation (i.e. for foreign companies to re-register as local companies, and for local companies to re-register as foreign companies). Australia, Canada, New Zealand, and the British Virgin Islands are among these nations.
Other Factors to Consider
As there is presently no option for Singapore firms to redomicile outside, redomiciling to Singapore is a permanent choice. Companies will have additional options as more nations implement redomiciliation systems, allowing them to choose which jurisdiction best suits their needs in terms of tax and other regulatory regulations.
Redomiciliation is also a relatively new procedure, therefore international firms considering relocating their headquarters to Singapore should think twice. This would entail seeking legal and tax counsel at your original place of incorporation, in case you are subject to stamp duty if the transaction is deemed a share sale under local law, among other things. You’ll also need to consult with Singapore company lawyers and tax experts.
How Bluebox can help?
Our experts can assist you every step of the process of redomiciling your company to Singapore. We will prepare the necessary paper and apply for approval with the registrar and liaise with them in case of any queries. Transferring your foreign corporation’s registration to Singapore and appointing a Singapore-based company secretary.
Why Incorporate in Singapore?
Singapore consistently ranks as one of the best places in the world to do business:
Why Choose Us for Your Singapore Incorporation?
Starting a business in Singapore involves crucial decisions that can impact your long-term success. Our lawyers will guide you through the process, helping you choose the right business structure, draft foundational documents, and ensure compliance with Singapore’s legal requirements. Our services include:
Private Limited Company Registration
The most common business structure in Singapore, a Private Limited Company offers:
Our comprehensive Pte Ltd registration package includes:
Developer Notes:
– Use an H2 tag for “Private Limited Company Registration”
– Format the key features as an unordered list with bullet points
– Format the package inclusions as an unordered list with bullet points
Additional Business Structures
We also assist with registering:
Our experts will advise you on the optimal structure based on your unique needs and goals.
Developer Notes:
– Use an H2 tag for “Additional Business Structures”
– Format the list of additional structures as an unordered list with bullet points
Offshore Company Incorporation
In addition to Singapore, we offer incorporation services in other popular jurisdictions:
01
Hong Kong
Fast and simple incorporation process.
Low and simple tax system.
No restrictions on foreign ownership
02
British Virgin Islands
0% corporate tax rate.
High level of privacy and asset protection.
Minimal reporting requirements.
03
Cayman Islands
Tax neutral with no corporate, capital gains, or withholding taxes.
Stable and business-friendly government.
Well-suited for investment funds and holding companies.
Establish an offshore presence in Singapore and benefit from:
Starting a business in Singapore involves crucial decisions that can impact your long-term success. Our lawyers will guide you through the process, helping you choose the right business structure, draft foundational documents, and ensure compliance with Singapore’s legal requirements. Our services include:
We handle the entire offshore incorporation process, including eligibility advice, document filing, nominee services, and bank account opening.
Developer Notes:
– Use an H2 tag for “Offshore Company Incorporation”
– Format benefits as an unordered list with bullet points
Comprehensive Related Services
Streamline your Singapore operations with our additional services:
Why Choose Bluebox?
Starting a business in Singapore involves crucial decisions that can impact your long-term success. Our lawyers will guide you through the process, helping you choose the right business structure, draft foundational documents, and ensure compliance with Singapore’s legal requirements. Our services include:
Contact us today for a free consultation on your Singapore entity formation needs. Our specialists are ready to guide you on your business journey.
Frequently Asked Questions (FAQs) About Singapore Company Formation
What are the requirements for incorporating a company in Singapore?
To incorporate a company in Singapore, you need: Served as a company secretary for at least 3 of the 5 years before appointment
At least one shareholder (individual or corporate entity, local or foreign)
Minimum paid-up capital of S$1
A local registered office address
At least one resident director (Singapore citizen, permanent resident, or employment pass holder)
A company secretary within 6 months of incorporation
Can a foreigner be the sole shareholder and director of a Singapore company?
Yes, a foreigner can be the sole shareholder of a Singapore company. However, the company must appoint at least one director who is ordinarily resident in Singapore (citizen, permanent resident, or employment pass holder).
What is the minimum paid-up capital for a Singapore company?
The minimum paid-up capital requirement for incorporating a company in Singapore is S$1. This amount can be increased after incorporation.
How long does the company incorporation process take in Singapore?
The company incorporation process in Singapore is fully computerized and can be completed within a few hours, provided all required documents are submitted. The overall process, including opening a corporate bank account, can take anywhere from one day to a few weeks.
Do I need to be physically present in Singapore for company incorporation?
No, you do not need to be physically present in Singapore to incorporate a company. The entire process can be done remotely, with documents signed and submitted electronically. However, some banks may require the physical presence of directors for opening a corporate account.
What is a company secretary, and is it mandatory to appoint one?
A company secretary is responsible for ensuring the company’s compliance with statutory obligations. It is mandatory for a Singapore company to appoint a qualified company secretary within 6 months of incorporation. The company secretary must be a natural person residing locally in Singapore.
Can I use a residential address as my company’s registered address?
Yes, you can use a residential address as your company’s registered address, subject to approval from the Urban Redevelopment Authority (for private properties) or the Housing Development Board (for HDB flats).
What is the difference between paid-up capital and issued capital?
Paid-up capital refers to the amount of money a company has received from its shareholders in exchange for shares. Issued capital is the total value of shares that have been allotted to shareholders.
How do I choose a suitable company name for registration in Singapore?
When choosing a company name, ensure it is not identical or too similar to an existing company name, does not infringe on any trademarks, and is not obscene or offensive. The name must be approved by the Accounting and Corporate Regulatory Authority (ACRA) before incorporation.
What is an exempt private company (EPC) in Singapore?
An exempt private company (EPC) is a private limited company with no more than 20 shareholders, none of whom are corporations. EPCs enjoy certain exemptions from statutory requirements, such as the need to file audited accounts annually.
Can a Singapore company be 100% foreign-owned?
Yes, a Singapore company can be 100% foreign-owned. There are no restrictions on foreign ownership of companies in Singapore.
What are the ongoing compliance requirements for a Singapore company?
What are the tax obligations for a Singapore company?
Singapore companies are subject to corporate income tax on their taxable income. The current corporate tax rate is 17%. Companies must file an annual tax return with the Inland Revenue Authority of Singapore (IRAS).
How can I open a corporate bank account in Singapore?
To open a corporate bank account in Singapore, you typically need to provide:
Company incorporation documents
Proof of business address
Identification documents of directors and signatories
Business profile and projected financials
Some banks may require the physical presence of directors or signatories.
What is the difference between a private limited company and a limited liability partnership (LLP) in Singapore?
A private limited company is a separate legal entity from its shareholders, offering them limited liability protection. An LLP is a partnership structure where the partners have limited liability. LLPs are often used by professionals such as lawyers and accountants.
Can I relocate to Singapore to manage my company after incorporation?
Yes, you can relocate to Singapore to manage your company after incorporation. To do so, you would need to apply for an appropriate work pass, such as an Employment Pass (for professionals, managers, and executives) or an EntrePass (for entrepreneurs).
How long must a Singapore company retain its accounting records?
A Singapore company must retain its accounting records and supporting documents for at least five years from the end of the financial year in which the transactions or operations occurred.
What is the role of a resident director in a Singapore company?
A resident director is responsible for ensuring the company’s compliance with Singapore laws and regulations. The resident director must be a natural person who is ordinarily resident in Singapore (citizen, permanent resident, or employment pass holder).
Can a Singapore company have a corporate shareholder?
Yes, a Singapore company can have a corporate shareholder. The corporate shareholder can be a local or foreign entity.
What are the penalties for non-compliance with Singapore company law?
Penalties for non-compliance with Singapore company law can include fines, imprisonment, or both, depending on the nature and severity of the offense. Directors may also be disqualified or face personal liability in some cases.