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Singapore

SINGAPORE – Tax Exemption Company – Startup

Singapore - Tax resident or non-resident?

Requirements for Tax Exempt Company (0% tax – 100% of S$ 100,000 taxable income):
0% tax for new Startup can claim for first three financial years

 

– must be incorporated in Singapore
– must be a tax resident in Singapore (if the business is exercised in SG)
– can’t have more than 20 shareholders

Tax exemption & partial tax exemption for First Three Years  (in S$)
Financia yearsTaxable IncomeRelative expressionTax Rate
1<0 – 100,000>100%0%
next(100,000 – 300,000>50%8.50%
next(300,000 – 2,000,000>17%

Partial Tax Exemption – 8,5% tax – 50% of an amount >S$ 100,000)
If your Startup doesn’t meet the qualifying conditions under this scheme, your Startup will be given the partial tax exemption status – 50% exemption is given from the chargeable income.
Tax and partial tax exemption – read more here.

Partial tax exemption after First Three Years  (S$)
Financia yearsTaxable IncomeRelative expressionTax Rate
after 3 years<0-300,000>50%8,5%
after 3 years(300,000 – 2,000,000>17%

If the company reports losses or has no income in any of the first three years
– your chargeable income and tax payable will be nil and you can’t enjoy the benefit of exemption scheme for new Startup company. Three years are consider since you
establish your Startup. If you company has not commenced any business for first two
years you have left one year of tax exemption.

 

Income Tax Audit exemption
– number of corporate shareholders is lower than 20 and with annual revenue less than S$ 5,000,000
– dormant companies (without any accounting evidence)

 

Corporate Income Tax Rebate and SMEs Cash Grant

 

Singapore government has realized the need of SME for that reason offers two different cupport (depending on whichever amount is higher):

 

Rebate for a Corporate Income Tax
– Startupr can claims 20% corporate income tax rebate on income tax for financial year 2011 (subject to a cap of S$ 10,000)

 

SMEs Cash Grant
– 5% of the Starupr’s revenue (subject to a cap of S$ 5,000)
read more here.

Do you want to know our pricing policy on Singapore Limited Company? Click.

Switch your company incorporation service to Startupr

What does "KYC" mean?

Are you Unhappy with high fees or irresponsible service from your current incorporation / formation provider?

 

Here are a few examples of our pricing policy:

 

Hong Kong:
– formation fee – 89USD + government fee – 600USD (since 1st of August 2011)
– registered office fee – 150USD
– company secretary – 150 USD
– annual return (gov fees included) – 60 USD

 

Note: These fees are mandatory once you are about to open your office in HK.
Read our HK option.

 

Seychelles:
– formation fee – 89USD + government fee – 100USD
– registered office fee – 389 USD

 

Note: Here is being consider a government fee as a yearly cost of 100 USD + our fee and registered office fee.
Read our Sey option.

 

Singapore:
– formation fee – 89USD + government fee – 270 USD
– registered office fee – 169USD
– company secretary – 550 USD
– local director 2000 USD

 

Note: SG address, local director and secretary are necessary in order to incorporate your company.
Read our SG option.

 

We do charge you for the service you order. NO hidden cost or additional charges. We are open with our pricing policy. Just open our order list where you want to incorporate and compare the structure and explanation text with our competitors. E.g. One of the typical hidden cost is an “annual return” or hire fees for next year of services. We will answer all your questions!

 

email: tomas[at]startupr.com

Order form: Singapore Incorporation service – FORMATION OF LIMITED COMPANY

Here is a PDF format.

Here is a DOC format.

If you need Singapore Limited Company download our form and send it to: tomas[at]startupr.com

Singapore as the Asian business HUB for Small and Medium Enterprises

 

Singapore as the Asian business HUB for Small and Medium Enterprises

Singapore is only 137 kilometers (85 miles) north from of the equator, is a Southeast Asian city-state offering numerous business possibility and ranked as the most attractive Asian business hub due to the smooth legal system and financial center. A foreigners can own 100% of a company in Singapore. SME Development Committee is strongly aware of the importance of supporting this sector employing 65 % of locals. A few business incubators supporting yours idea by offering access to; Finance, Overseas Markets, Mentors & Experts, Tech Facilities.

 

Advantages of companies:

 

– One-day company incorporation
– Minimum paid up capital S$ 1
– Audit – companies meeting criteria are exempt from audit
– Access to comprehensive double taxation treaties with 62 countries
– Highly reputable/regulated global trading jurisdiction
– Perfect base for expansion in Asia
– ASEAN Free Trade Area (strengthening the relationship with China)
– strong relationship with USA (third largest trading partner)

 

There is quite a lot of supportive organization. You might contact them and find out your way to Singapore:

 

One network for enterprises
Singapore SME Portal
The Association of Small and Medium Enterprises
Spring Singapore
Startupr – start your business with us

 

Be smart and structure your business:

 

Open your business entity in Singapore and your business bank account with HSBC in Hong Kong. In Singapore is quite high bank account opening fee of approx. US$ 1300 ( US$ 1000 – 15000) however in Hong Kong the bank account opening fee is just US$ 70. There is no requirements from local government to have Singapore business bank account. Our competition try to offer you the most expensive variant. We are clear on this point, putting the customer first!

 

Incorporate your Singapore Limited Compnay with Startupr.