Why start a business in Singapore?

Singapore is a small nation in Asia with a state-of-the-art infrastructure, free market economy, a stable socio-political environment and an attractive tax regime for setting up a company. To operate a Business in Singapore, you must first formally register with the Accounting and Corporate Regulatory Authority (ACRA). At OfficeM, we provide you with affordable and quality Corporate Services with preferential rates and access to an experienced team of 10 who will make sure that all your records and obligations are in good order.

You may register a Private Limited Company, Sole Proprietorship or Limited Liability Partnership in Singapore. In general, most entrepreneurs register a Private Limited company due to its scalability, limited liability protection and corporate tax benefits for the first 3 years of assessment. Do feel free to contact our Service Consultants on matters relating to incorporating a business in Singapore.

The minimum requirement to incorporate a company in Singapore:

• At least 1 shareholder (100% Foreign shareholding is permitted and the shareholder can be either an individual or a corporate entity)
• At least one local resident director (This can be a Singapore Citizen or Singapore Permanent Resident)
• At least 1 local resident company secretary
• Minimum initial paid-up share capital of S$1.00
• A local registered address

These packages are for local entrepreneurs or foreign entrepreneurs with a local resident director

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These packages are for foreign entrepreneurs without a local resident director and require Nominee Director Service. You do not need to pay for the annual Nominee Director Service once you have obtained an Employment Pass or when you appoint your own local resident director.

Foreign Entrepreneur who wish to work and live in Singapore can apply for an Employment Pass from the Ministry of Manpower after a few months upon incorporating your company. Application is opened to all nationalities who meet the following requirements:

• Work in a managerial, executive or specialised position
• Have a professional qualification, specialised skill or a good university degree
• Monthly salary of at least S$3,600

Application is subjected to approval. Those who are successful in their application can also apply for Dependant Pass for their family to live in Singapore. We can assist you in applying for the Pass with the BizPlus 2 Package.

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Corporate Secretary’s must be appointed within 6 months from the date upon Company Incorporation as required by The Accounting and Corporate Regulatory Authority (ACRA) of Singapore. Failure to do so is an offence and may lead to penalties and prosecution according to the Companies Act.

The Company Secretary’s responsibility is to maintain proper records of important statutory documents such as incorporation papers, company’s resolutions, annual returns, etc. It is important to note that lodgement of statutory filings such as annual returns have to be performed within a stipulated time frame, otherwise the directors of the company may be liable for late lodgement fee. At OfficeM, we have experienced personnel who acts as your company secretary notifying you of filing deadlines and providing professional corporate services at the most competitive pricing.

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OfficeM provides one-stop solutions for your financial year-end submission. Outsource your accounting and bookkeeping process to our dedicated and trustworthy chartered accountants yearly, quarterly and monthly. Free yourself from worrying financial records, involving expensive in-house accountant, and risk infringement of tax laws.

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