Singapore Non-Resident Company Formation

Description

Geography

Singapore is located at the southernmost tip of the Asian continent and at the crossroads of major global trading routes. It has a multi-cultural population of 4.84 million (as of June 2008).

Advantages of Investing in Singapore

Singapore is a world class city for companies to invest and for their employees to work, live and play. She is a globally connected and cosmopolitan city state that offers an excellent environment to knowledge-driven industries.

Singapore’s competitive factors (Trust, Knowledge, Connected and Life) sets her apart from other major cities. She is known for her integrity, quality, reliability, productivity, rule of law and enforcement of intellectual property rights. The multi-cultural Singaporean workforce is highly educated, highly motivated, and highly productive. An open immigration policy enables employers to source for the best personnel from anywhere in the world.

She has the most extensive network of free trade agreements (with US, Japan, European Free Trade Association and other key economies) in Asia. In addition, Singapore has signed 35 investment guarantee agreements, giving Singapore- based companies protection against non-commercial risks for their investments in the other countries.

Singapore also offers competitive income tax rates, various financial assistance schemes and tax incentives to attract and assist companies to grow their businesses.

Constitution

Singapore is a sovereign republic. The Constitution lays down the fundamental principles and basic framework for the three organs of state, namely, the Executive, the Legislative and the Judiciary.

The Executive comprises the Cabinet, which is responsible for the general direction of the Government and is accountable to Parliament. The Legislative comprises the Parliament and is the legislative authority responsible for enacting legislation. The Judiciary’s function is to independently administer justice. The Judiciary is safeguarded by the Constitution.

Communications and Transportation

Singapore has excellent internal and external telecommunications, with easy access to broadband and vocal telecommunication facilities. The telephone direct dialing system gives instantaneous international communication from both fixed and mobile units.

Singapore has built on its strategic geographical location to become one of the world’s top transportation hubs for sea and air cargo. Singapore’s Changi International Airport serves over 80 international airlines flying to more than 190 cities in 60 countries whilst her container ports offer a choice of 200 shipping lines with links to some 600 ports in 123 countries.

Language and Currency

English is the language of administration and business. Malay is the national language. Singaporeans are generally bilingual, often combining their fluency in English with knowledge of Mandarin, Malay or Tamil.

The currency used is Singapore dollar (S$). One hundred cents = one Singapore dollar.

Legal System

Singapore’s legal system is based on English common law.

Major Exports and Imports

The General Agreement on Tariff and Trade (GATT) has ranked Singapore the world’s 16th largest importer and exporter. Chemicals & chemical products (i.e. organic chemical and chemical products, etc), petroleum & products, manufactured goods (i.e. Iron & Steel, Non-metal mineral manufactures and metal manufactures, etc) and machinery & transport equipment (i.e. Office & Data machine, Telecommunication apparatus and Electrical machine, etc) are both the main exported and imported items.

Government Policy on Foreign Investment in Singapore

Singapore recognizes the importance of foreign investments and welcomes foreign investors into Singapore with open arms. The Economic Development Board (EDB) is the lead government agency responsible for attracting foreign investors with solutions that create value for investors and companies in Singapore.

Singapore believes that competition spurs businesses to be more efficient, innovative and responsive, leading to effective use of resources and greater productivity gains for the economy. The Competition Commission of Singapore (CCS) is the government agency responsible for administering the Competition Act. Voluntary applications may be made to the CCS for a decision as to whether a proposed activity (such as a merger) may infringe the Competition Act.

Import control

Singapore imposes import duty on a limited list of items (such as petroleum products, intoxicating liquors, motor vehicles and tobacco products). The import of certain goods (such as drugs, chemicals, animals and food products) is subject to import control. Import clearance is required for the importation of goods into Singapore.

Exchange Controls

There is no exchange controls in Singapore.

Source of finance

Companies in Singapore can tap the diverse capital markets and cutting-edge financial services from more than 500 local and foreign financial institutions here.

Singapore Business Number

Individuals, companies and other entities that carry on business in Singapore must register with the Accounting and Corporate Regulatory Authority (“ACRA”). ACRA will issue the registrant with a Unique Entity Number (“UEN”). The UEN is the identification number for dealings with all government agencies.

Frequently Asked Questions

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Singapore Non-Resident Company Formation

At GIA, we offer a remote company incorporation experience that is unparalleled. You don’t have to fly to Singapore. Everything can be done online, through our state-of-the-art platform.

Our seasoned specialists will help make the onboarding process and bank account opening process a seamless, easy one.

Set up your Singapore registered company now

We provide company formation services and guide you through the registration of your Singapore company.

Foreigners will require a local nominee director to be appointed. We can provide both nominee director and local registered address.

This package includes incorporation, secretary, Singapore registered address, nominee director:
  • Singapore registered company
  • 12-month Comprehensive Secretary
  • 12-month Nominee Director
  • Compliance kit including registers, minutes book
  • Unlimited requests for essential resolutions
  • Virtual office
  • Includes government fees

SERVICE COST

$2,899.99

  • SHARE CERTIFICATE OPTION


    • 69.99 $
      Share certificate at US$50 each

    Singapore Employment Pass

    Planning to relocate to Singapore? Or perhaps you’re thinking of registering a Singapore company and are also wondering whether you’ll also need to obtain a work visa. Well, if you’re a foreigner, you will need an employment pass in order to work on Singapore soil.

    Singapore employment passes are a type of work pass (some refer to this as a work “visa”), that are issued to foreigners, enabling them to relocate and live in Singapore for a continuous period of time. Singapore employment passes can be issued for a maximum of 5 years. However, it is more common to have the employment pass issued for 2 years or even 1 year, in some circumstances. To know for how long a period your pass will likely be issued for, speak to our Employment Pass Experts.

    How do I apply for an employment pass?

    Requirements for an EP:

    To apply for a Singapore employment pass, you will need to have a Singapore company make the application for you. The Ministry of Manpower is the Singapore Government authority that issues all workpasses. The quickest way to apply for this pass is through the Online system.

    Requirements for an EP:

    For information regarding the qualifying criteria, please refer to http://www.mom.gov.sg/passes-and-permits/employment-pass/eligibility

    Singapore Employment Pass processing time:

    Once submitted, from experience, it takes at least about 1 week for passes to be issued. In some cases, the processing time may be significantly longer, depending on various factors. For obvious reasons, factors such as the operating history or size of the company do make a difference. Contact us to learn more.


    • 199.99 $
      You will be able to live in Singapore for an extended period of time. We are able to assist you with application
    • 149.99 $

    Non-Resident Bank Account in Singapore


    • $
      We require GIA to quote us for non-resident bank account opening in Singapore
    • $
      I do not need bank account opening services in Singapore.

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