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Benefits of the Business Registration Singapore
Registering your business in Singapore offers numerous advantages, making it an attractive destination for entrepreneurs. From a strategic location to a supportive regulatory environment, here are the key benefits of business registration in Singapore:
- Strategic location for global trade connecting businesses to Asia and beyond
- Pro-Business environment with minimal bureaucracy, streamlined procedures, and full ownership rights
- Low corporate tax rates and no capital gains tax
- Access to government grants and funding to support business growth and innovation
- A strong legal and regulatory framework ensures protection for businesses and intellectual property
- Skilled and diverse workforce boosts operational efficiency and supports business expansion
- World-class infrastructure makes Singapore an ideal base for businesses.
Companies Who Trust Us
Stressed About Taxes?
This is how you optimize your global taxes
Income Tax
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UAE: No tax -
Singapore: 3.5% - 15% -
India: 0 - 30%
Corporate Tax
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UAE: 9%
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Singapore: 17%
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India: 25.17%
VAT/GST
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UAE: 5%
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Singapore: 9%
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India: 18%
7 Key Things to Know Before Registering a Business in Singapore
Starting a business in Singapore is a streamlined process, but there are key steps you must follow to ensure a smooth and successful registration. Here are seven essential things to consider before you proceed with your business registration in Singapore:
- Choose the Right Business Structure:
Before registering, decide on the appropriate business structure for your company, such as a Sole Proprietorship, Partnership, or Private Limited Company (Pte Ltd). Each structure has different legal, financial, and tax implications, so choosing the right one is crucial to your business’s success.
- Select a Company Name As per Your Objectives:
Your business name must be unique and comply with Singapore’s naming guidelines. It cannot be identical to existing company names or use prohibited words. Once approved, your chosen name will be reserved for your business registration process. - Appoint a Local Director, Shareholder, and Company Secretary:
For business registration in Singapore, you must appoint at least one local director who is a Singaporean citizen, permanent resident, or Employment Pass holder. Additionally, your company needs at least one shareholder and a company secretary to ensure compliance with local regulations. - Register a Local Business Address:
All businesses in Singapore must have a registered local business address. This address will be used for official correspondence and must be a physical location in Singapore—no P.O. boxes are allowed. - Fill Out the Incorporation Application and Documents:
Prepare and submit the required documents, including your company’s constitution, details of directors, shareholders, and your business address. This information will be submitted to the Accounting and Corporate Regulatory Authority (ACRA) through their online platform for approval. - Understand the Cost and Time Frame:
Business registration in Singapore typically takes 1-3 business days. The cost varies depending on your service provider but generally ranges between SGD 300 to SGD 1,500, excluding any additional fees for licenses or permits.
5 Simple Steps for Seamless Business Registration in Singapore
At TMG, we specialize in providing comprehensive business and legal services to overseas businesses looking to expand into Singapore. Our proven 5-step process ensures a smooth and efficient “business registration, Singapore” experience, guiding you through every stage of the incorporation journey.
Preparation
Get ready with your company name, business category and related codes
Filling
Register company names with the Director’s/ shareholders’ information and shipping information to receive a company kit
Payment
Choose your payment method (Credit/Debit Card, PayPal or Wire Transfer)
Appoint Nominee Director
The appointment of a Nominee Director can be a great way to have local representation in Singapore. The Nominee Director will not be in control of the company.
Account Opening
Open your Corporate Bank Account to finance your business and smoothen all financial transactions.
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Choose the Right Business Structure for Business Registration Singapore
The selection of the right business structure is a crucial step in the process of business registration in Singapore. The structure you choose will impact your liability, tax obligations, and day-to-day operations. Here are the main business structures available for registration:
- Sole ProprietorshipA simple structure with one individual owner who has full control and responsibility for the business.
- PartnershipA business owned by two or more individuals who share profits, losses, and liabilities.
- Limited Liability Partnership (LLP)This offers the flexibility of a partnership while providing limited liability protection to partners.
- Private Limited Company (Pte Ltd)The most common structure, providing limited liability and allowing for easy access to funding, is ideal for small to medium businesses.
- Public Limited Company (Ltd)
This structure is suitable for larger businesses looking to list on the stock exchange, with more regulatory requirements.
What should you expect from a Fast and RBI-Compliant Business Registration in Singapore
Singapore compliance experts at TMG offer comprehensive support for business registration in Singapore, ensuring a seamless and efficient process. We provide expert consultation on RBI-ODI compliance, local director services, and assistance with opening a corporate bank account. Thus, with us, you can focus on growing your business while we take care of all compliance and regulatory requirements.
Bank Account Opening
Zero Based Accounting
RBI FEMA Compliances
Zero Paper Work
Nominee Director
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Key Benefits of Business Registration Singapore
Why Should You Register an Export & Import Business in Singapore?
Strategic Location:
Singapore’s strategic position at the crossroads of Asia makes it an ideal hub for global trade. This prime location enhances the global reach of any business, making business registration in Singapore a smart choice for international trade.
Ease of Doing Business:
Singapore is renowned for its business-friendly environment, characterized by minimal bureaucracy and efficient import/export procedures, making business registration in Singapore particularly attractive for small to medium-sized exporters and importers.
Banking Support and Letter of Credit (LC) Services:
The robust financial sector in Singapore provides vital support for international trade. This financial infrastructure makes business registration in Singapore an essential step for companies looking to engage in global trade.
Efficient Customs Procedures:
Singapore’s streamlined customs processes significantly reduce bureaucratic delays, accelerating goods clearance and reducing operational costs, making business registration in Singapore a practical option for businesses aiming to optimize their supply chain.
Free Trade Agreements (FTAs):
Singapore has established over 20 Free Trade Agreements (FTAs) with major global economies, providing businesses with tariff-free access to key markets. This access amplifies the advantages of business registration in Singapore, offering a competitive edge in international trade.
Government Support:
The Singapore government actively supports international trade through initiatives like the International Trading Company (ITC) scheme to foster growth and development in the trade sector, offering companies the resources and ecosystem they need to succeed in global markets.
Why Should You Register an IT/ITes Company in Singapore?
Digitalization and Smart City Initiatives:
The government’s commitment to digitalization creates a thriving ecosystem for tech businesses, offering ample opportunities for growth and innovation for the development in areas like IoT, AI, and smart infrastructure.
Ease of Doing Business:
Singapore’s efficient regulatory framework and minimal paperwork make it exceptionally easy to start and operate a tech business. With few barriers to selling software or offering digital services, business registration in Singapore is a streamlined process that supports quick market entry for tech entrepreneurs.
Focus on Emerging Technologies:
As a global leader in emerging technologies such as Artificial Intelligence (AI), blockchain, and fintech, Singapore offers abundant opportunities for businesses involved in these sectors.
Pro-Business Government Support:
The Singapore government actively fosters the growth of the tech sector with programs like the Smart Nation initiative, an attractive option for entrepreneurs looking to tap into a government-supported, tech-friendly environment.
Low and Simple Tax System:
Singapore’s tax regime is one of the most competitive globally, offering low corporate tax rates and no capital gains tax. This straightforward, business-friendly tax structure significantly reduces the financial burden on tech companies.
Intellectual Property Protection:
Singapore’s strong legal framework gives tech companies the confidence to invest in research and development, ensuring that ideas and innovations remain secure. Business registration in Singapore ensures your intellectual property is safeguarded within a stable, transparent system.
Funding and Collaboration Opportunities:
The country promotes partnerships between tech firms, Government grants, research institutions, and the public sector, making business registration in Singapore an ideal step for tech companies seeking financial support and collaborative ventures.
Why You Should Register a Food Business in Singapore?
Vibrant Foodie Culture:
Singaporeans have a deep-rooted passion for food, with an ever-growing demand for diverse culinary experiences, particularly in Indian and Chinese cuisines. This offers food entrepreneurs the chance to tap into this rich, multicultural food culture, catering to a broad and appreciative customer base.
Strategic Location:
Located at the heart of Southeast Asia, Singapore serves as a premier hub for food imports and exports. Its excellent connectivity to regional markets across Asia makes business registration in Singapore an attractive opportunity for companies looking to establish a strong presence in the global food trade.
Ease of Doing Business - Full Ownership:
Singapore’s open and investor-friendly policies allow entrepreneurs to fully own their food businesses without the need for local partners and ensure that you retain full control over your food enterprise while tapping into the country's thriving market.
Supportive Government Policies:
The government offers a range of initiatives to support food businesses, including the "Food Manufacturing Scheme" and "Food Innovation Cluster." These programs provide valuable resources for food entrepreneurs looking to scale, innovate, or enhance their operations.
Access to Funding and Resources:
Singapore boasts a robust ecosystem of investors, incubators, and accelerators focused on food technology and innovation. Business registration in Singapore connects you to a strong network of funding opportunities and resources, enabling your food business to access capital, mentorship, and strategic partnerships for growth
What our customers say About Us
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Vipul Taneja
Director, Adsparkx Media
"Tax Mantra is a brand, which has created a niche in the market. They are highly professional and ethical towards their services and clients. I strongly recommend them"
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Rupam Gupta
Co-Founder, FloStack (a LeadSquared company)
"Have been associated with Taxmantra for almost a decade now. They have helped me with company structuring, fundraising, registrations etc. It has always been an extremely hassle-free and seamless experience."
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Mohit Yadav
Co-Founder, Bold Care
"Taxmantra has been a pleasure to work with. Especially, for all CS related matters"
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R Nandi
Director, Poshvine (acquired by Razorpay)
"Our professional relationship with Taxmantra is for almost a decade. They take care of the compliance and financial requirements for both my Indian and Singapore Entities and help me to focus on my business and to scale it up."
For the last 20+ years
I have worked with founders who are driving global impact and solving large-scale problems. I understand your challenges and pain points.
Navigating the complexities of global business can be daunting. At TMG., we take that burden off your shoulders, providing a one-stop shop for legal, tax, and accounting needs across borders. Whether you’re a startup entering new markets or a seasoned company seeking international growth, TMG. scales with you.
We are proud to have empowered over 750+ Growth-Stage Businesses, Unicorns, and Enterprise Clients to navigate the global landscape confidently. We aim to be your trusted advisor, helping you navigate the unknown and establish a strong regional presence.
-Alok Patnia, Managing Partner, TMG
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