Assistance with business setup in Singapore
We help entrepreneurs launch their business in Asia’s leading financial hub. Complete online company setup in just 5 days
Advantages of Singapore for business in numbers
Remote registration
Manage your company remotely — all business processes are available online
CIT
Singapore has a partial tax exemption system for startups and other companies
Dividend tax
No tax burden on dividends
Local VAT rate
The country has GST, a local VAT with a relatively low rate
Taxation and accounting for Singapore companies
Current data as of 2026
Corporate Income Tax in Singapore
The standard corporate tax rate in Singapore is 17%, but the country applies a partial exemption system both for startups and other companies. This allows new companies to receive a full exemption on part of their profits. Additionally, tax incentives are provided by law for R&D, innovation, international expansion, and more
Goods and Services Tax (GST)
Singapore applies GST — a local equivalent of VAT — at a rate of 9%. Companies are required to pay it depending on their turnover and may operate under either mandatory or voluntary registration. Electronic invoicing requirements ensure transparent reporting for businesses
Taxation of business owners
Income derived from Singapore companies must be declared and taxed in the country of tax residence. For taxpayers in your country, this may include personal income tax and any applicable local contributions or levies
Accounting in Singapore
Monthly accounting support includes bookkeeping, preparation and submission of financial and management reports, and filing the annual tax return. The cost of accounting services depends on the company's turnover. On average, accounting services for SMEs cost between €150 and €200 per month
Planning to start a business in Singapore?
We’ll guide you through the process. Contact us now
Stages of company formation in Singapore
Consultation
We provide an initial free 30-minute consultation to discuss basic questions about establishing your future company, including the composition of founders
Assistance with documentation
We approve the company name, define the ownership structure, and prepare the set of corporate documents (1 day)
Submission to the Corporate Registry
We assist with submitting the documents to the relevant authority for company incorporation approval. Confirmation is usually received within 1–5 business days
GST number (if required)
If the company plans to operate in the local market, we provide support with obtaining a tax identification number for business activities
Opening a business account
We assist in opening an account with an international payment system or a bank that works with global businesses
What’s required to start a business in Singapore?
To start the company formation process, you need to prepare a minimal set of documents:
- Valid passport: a clear copy of the current passport of each company founder at the time of registration
- Proof of address of the founder(s) (not older than 3 months)
- Company name and business description (name reservation costs 15 SGD)
- Email address and phone number
Which business form to register in Singapore?
A Private Limited Company (Pte Ltd) is a private limited liability company, equivalent to an LLC or Sp. z o.o. in many countries. It is the most popular business form, providing limited liability within the scope of contributions. It is accepted by international banks, partners, and investors.
- Minimum share capital — 1 SG
- Structure — minimum 1 shareholder; at least one director must be a resident
- The presence of a resident company secretary is mandatory
Private Limited Company (Pte Ltd) — best suited for companies in e-commerce, IT, consulting, freelance, and investment sectors.
Service packages for company setup in Singapore
Select a solution that best suits your business needs. All packages include consultations, as well as technical and informational support at every stage of company formation. Final terms are discussed during an individual consultation.
BASIC
An optimal option for a fast business launch in Singapore
- Initial consultation (30 min)
- Assistance with opening a Payoneer account Payoneer
- Preparation of the corporate document package (articles of association, minutes, and incorporation materials)
- Corporate secretary, nominee director, and legal address for 1 year
STANDARD
An ideal option for businesses planning to operate in the global and Asian markets
- Everything included in the Basic package, plus:
- Assistance with opening an account in the AirWallex payment system
PRO
A reliable option with comprehensive tax support
- Everything included in the Basic and Standard packages, plus:
- CFC notification submission for Ukrainian residents
Get a free consultation on launching your business in Singapore
You’ll be answered by
Ivan Chebotarov
CEO & co-Founder
Just leave your request
We’ll reply within 15 minutes during business hours
Frequently asked questions about business setup in Singapore
Yes, foreigners can own 100% of a Singapore company. However, at least one resident director (a citizen or permanent resident) is required for registration.
Yes, a company can be managed remotely; however, at least one local director (a citizen or permanent resident residing in Singapore) is required.
The most popular form for foreign entrepreneurs is the Private Limited Company (Pte Ltd). It suits most types of business, from small to large. Minimum share capital is 1 SGD.
No, opening an account in a traditional bank without a physical presence is quite difficult. However, EMI (electronic money institutions) and fintech solutions such as Wise, Airwallex, and Payoneer are available.
Yes, companies are required to maintain accurate accounting records and submit annual financial statements. Additionally, audits are mandatory. Small companies are exempt from audit if:
(a) It is a private company in the relevant financial year, and
(b) It meets at least 2 of the following 3 criteria for two consecutive financial years:
- annual revenue ≤ 10 million SGD
- total assets ≤ 10 million SGD
- number of employees ≤ 50
