Why Singapore?

Business Tax Landscape: Singapore’s Strategic Advantage

Singapore offers one of the most founder-friendly tax environments in Asia, built on clarity, predictability, and global flexibility. Here’s how its system works:

Territorial Tax System

Singapore taxes income based on where it’s earned or received, not where the company is incorporated. This means:

• Foreign-sourced income is generally tax-free unless it is remitted into Singapore or used in a way that constitutes receipt (e.g., settling Singapore liabilities or purchasing movable property brought into the country)

• Income held in non-Singapore accounts (e.g., Wise, Revolut, foreign banks) typically remains outside Singapore’s tax scope

• This territorial model allows businesses to strategically manage tax exposure by controlling where income is held and used

Foreign-Sourced Income Exemption (FSIE)

If foreign income is remitted into Singapore, it may still qualify for exemption under the FSIE scheme—provided these conditions are met:

• The income was already taxed in the foreign jurisdiction

• The foreign jurisdiction’s headline corporate tax rate is at least 15%

• The exemption is deemed beneficial to the Singapore tax resident by IRAS

To claim FSIE, businesses must provide supporting documentation, such as:

• Foreign tax assessments or proof of tax paid

• Bank remittance records

• Contracts or invoices showing the source and nature of the income

This framework gives founders flexibility to operate globally while remaining compliant and tax-efficient.

Corporate Tax Rates

Singapore’s corporate tax regime is simple and competitive:

• Flat 17% corporate tax rate on taxable income

• Partial tax exemptions for eligible startups and SMEs:
  ▸ First SGD 10,000: 75% exempt
  ▸ Next SGD 190,000: 50% exempt

• No capital gains tax

• No dividend withholding tax under Singapore’s one-tier corporate tax system

Withholding Taxes

Singapore imposes withholding tax only on payments made to non-residents for specific types of Singapore-sourced income:

• Royalties
  ▸ 10% on payments for use of intellectual property (e.g., patents, trademarks, copyrights)

• Interest Payments
  ▸ 15% on interest paid to non-residents (e.g., loans or debt instruments)

• Technical, Management, or Consultancy Fees
  ▸ 17% on fees paid to non-residents for services rendered in Singapore

• Rent for Movable Property
  ▸ 15% on rental payments for equipment or other movable assets

• Reduced Rates via DTAs
  ▸ Singapore has Double Tax Agreements (DTAs) with over 80 countries, which may lower these rates depending on the recipient’s jurisdiction

Corporate Privacy: Beneficial Ownership Is Protected

Register of Registrable Controllers (RORC)

Singapore requires all companies (unless exempted) to maintain a Register of Registrable Controllers, which identifies individuals or entities with significant control—effectively the beneficial owners.

Key Advantage:

Not Publicly Accessible

• While companies must lodge this information with ACRA’s central RORC, it is not available to the public. Only select government agencies (e.g., law enforcement) can access it for investigations or regulatory enforcement.

What Is Publicly Visible?

Singapore’s corporate registry strikes a balance between transparency and privacy. The following information is accessible to the public:

• ✅ Company name, UEN, and registered address
  ▸ Freely available through ACRA’s BizFile+ portal

• ✅ Business activity (SSIC code)
  ▸ Shows the company’s declared industry classification

• ✅ Directors and shareholders
  ▸ Names are accessible via paid search
  ▸ Ownership percentages and contact details are not disclosed

• ✅ Financial statements
  ▸ Required for non-exempt companies
  ▸ Available for download if filed

This structure ensures compliance with international transparency standards while protecting sensitive ownership details—ideal for founders, holding companies, and privacy-conscious investors.

Launch Your Singapore Business with Ease

Incorporate quickly, affordably, and with total confidence. Our expert team handles every step—from paperwork to registration—so you can focus on growing your business, not chasing forms. Get started online in just a few clicks and enjoy peace of mind from day one.

What’s Included in the “Incorporate in Sinagpore” Plan (from £4,600)

Singapore Compliance & Accounting Essentials

A comprehensive service bundle designed to keep your Singapore company compliant, well-managed, and audit-ready—year after year.

1. Corporate Secretary
Stay compliant with Singapore’s corporate governance requirements.

• Named corporate secretary assigned to your company

• Annual preparation and filing of AGM and Annual Return

• Additional resolutions available on request (charged separately)

2. Registered Address
Maintain a legal presence in Singapore with reliable mail handling.

• Singapore-based registered business address

• Weekly mail collection

• Physical mail securely shredded after 2 weeks unless otherwise instructed

3. Nominee Director
Meet local directorship requirements with peace of mind.

• Non-executive local director appointed

• Formal Nominee Director agreement provided for transparency and protection

4. Accounting Services (Single Currency)
Keep your books clean and your financials in order.

• Annual closing of accounts

• Reconciliation of up to 50 bank transactions per year*

• Receipt and invoice processing

• Preparation of standalone unaudited Financial Statements

5. Tax Services
Ensure accurate filings and maximize eligible deductions.

• Acting as your official Tax Agent

• Review and application of Singapore tax reliefs

• Preparation and filing of ECI and CI

• Liaison with IRAS on filing status and updates

Incorporation Requirements

To register a private limited company in Singapore, the following criteria must be met:

• Shareholders: Minimum of 1 shareholder (individual or corporate; local or foreign)

• Directors: At least 1 director must be a Singapore resident (citizen, PR, or valid pass holder)

• Share Capital: Minimum issued share capital of SGD 1

• Registered Address: A local Singapore address is required for company registration

• Company Secretary: Must be appointed within 6 months of incorporation

These are statutory requirements under Singapore’s Companies Act. Our service ensures every box is ticked—so you can focus on building your business.

Process & Timeline

Setting up your Singapore company is fast, secure, and fully guided. Here's how it works:

1. Document Preparation
   We handle KYC checks, gather required details, and facilitate e-signing of incorporation forms.

2. Company Name Reservation
   Your preferred name is submitted to ACRA for approval.

3. Incorporation Filing
   Once approved, we file the incorporation and issue your official Certificate of Incorporation.

4. Post-Incorporation Support
   We assist with bank account opening and other essential setup tasks. (If package is selected)

Bank Account Opening Support

We assist with arranging a virtual meeting between you and a local bank representative, ensuring a smooth and guided onboarding experience.

• Liaising directly with the bank on your behalf to set up a virtual meeting

• Preparing all required KYC and account opening documents

• Coordinating scheduling and submission logistics

Please note: The bank account fee covers our liaison and preparation services and is non-refundable, regardless of the outcome.

Account approval is at the sole discretion of the bank. If the first attempt is unsuccessful, we’ll initiate a second application with a different local bank. A third attempt, if needed, will incur an additional fee.