singapore company incorporation | business registration

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Presentation Description

Rikvin provides a complete corporate solution under one roof for Singapore company registration of private limited companies, formation of offshore companies with opening of corporate accounts, business registration including accounting, tax, immigration related to work passes visa and compliance services in Singapore.

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Presentation Transcript

Slide 1:

Setup requirements for Singapore Company Registration 1 Shareholder – can be an individual or a corporate entity. 100% local or foreign shareholding is allowed 1 Resident Director – who must be an "ordinarily" resident in Singapore, i.e. Singaporean, Singapore permanent resident or a person who holds an Employment Pass/Entrepass or a Dependants' Pass with a residential address in Singapore. Any number of additional local or foreign directors can be appointed. Corporate directors not allowed. 1 Company Secretary – must be ordinarily resident in Singapore. Registered office address – must be a physical address and cannot be a PO Box. Use of residential address is allowed for certain types of business. Minimum paid-up share capital is S$1 – can be equivalent in any currencies. "Bearer" shares are not permitted. The Share or paid-up capital can be increased anytime after incorporation of the company. Singapore Company Incorporation: Key Facts

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Corporate Tax: One-Tier Tax System : Tax paid by a company on its chargeable income is the final tax and all dividends paid by a company to its shareholders are exempt from further taxation. Tax Exemptions for Newly Start-up Companies in Singapore To encourage local entrepreneurship, Singapore Government has declared a full tax exemption for newly incorporated companies. Full tax exemption is granted on the first S$100,000 of Chargeable Income for qualifying new companies for the first three years of assessment consecutively. To qualify for tax exemptions, a new company must fulfill the following conditions It is incorporated in Singapore; It is a tax resident of Singapore for that Year of Assessment; It has no more than 20 shareholders throughout the basis period relating to that Year of Assessment; All its shareholders are individuals throughout the basis period relating to that Year of Assessment; or There is at least one individual shareholder with a minimum of 10% shareholding. Corporate Tax

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Employment Pass (EP) Foreign entrepreneurs, businessman, company owners, professionals and managing directors are eligible to apply for EP There is no quota system for EP, and each application is reviewed based on its own merits Must have a minimum fixed monthly salary of at least S$2,500, and possess acceptable diploma or degrees, professional qualifications or specialist skills. Compensating factors - In lieu of recognized qualifications, MOM may also consider compensatory factors such as skills and years of experience. Processing time is between 1 to 8 weeks Eligible to apply for Singapore Permanent Residence after 6 months Relocation Work Visa: Employment Pass Route

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United Overseas Bank (UOB) Development Bank Of Singapore (DBS) Hong Kong and Shanghai Bank (HSBC) Standard Chartered Bank (SC) Citibank Singapore boasts one of the most sophisticated financial infrastructures in the world. Once the company has been incorporated, you may open a corporate bank account with any of the local or international banks based in Singapore, and in some cases, overseas. If you are unable to come to Singapore, you may choose a bank that allows opening of a corporate bank account without your presence. The account opening process takes anywhere from 1 to 15 days. All banks require a minimum balance which varies between S$3000 to S$30,000. Most banks offer internet banking facilities Some bank issues Credit card If the balance falls below the minimum balance, banks will levy a monthly charge ranging from S$15- S$50. Most popular locals and International banks in Singapore are: Documents required: Completed account opening application, copies of the certificate of incorporation, M & A, passport and residential address proof. Some bank may request additional information as part of their Know-Your-Client (KYC) policies At Rikvin, we multitask so that you can save time. When you engage us to incorporate a company for you, we can also arrange for bankers to meet with you at our office to open your corporate account. Opening Of Corporate Bank Account

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Company Name Reservation: 15 minutes, subject to the registrar not having any objection to the proposed name Company Incorporation: within 1 hour, if all document are in order Information and Documents required for Incorporation: Proposed Company name Activities of the proposed business Shareholders’ particulars such as name, address, copies of personal identity Directors’ particulars such as name, address, copies of personal identity Local Registered address Company Secretary Particulars Non-resident individuals: Copy of passport and proof of overseas residential address For resident individuals: Copy of Singapore identity card or Passport copy, if not Singapore citizen For corporate shareholders: Certificate of Registration, Memorandum & Articles of Association , Company profile extract from Company Registrar showing latest particulars of the officers. All copies of documents must be certified true copies by a notary public or you must bring the originals to our office for sighting. All documents must be in English or officially translated in English. Incorporation Procedure and Timeline

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Rikvin Pte. Ltd. – is a Singapore-based firm that provides professional incorporation, accounting, tax, and immigration services. Rikvin has incorporated more than 5000 companies since 1998. Our head office is conveniently located in Raffles Place – the heart of Singapore’s business district. Outstanding value: Our pricing is highly competitive. We offer exceptional value and service in all we do. Our formation packages are comprehensive. We can assure you that you will receive higher quality, better service, and more for your money with Rikvin. No hidden fees: We do not hide any fees from our customers because price transparency is essential to us, just as it is to you. Our service fees are presented in full to our customers, right upfront. Service guarantee: Our filing services are both accurate and timely. Every order is carefully reviewed by Rikvin Senior personnel to identify potential errors before filing. Our warranties cover our services against filing defects caused by Rikvin for the life of your company. Fast incorporation: Our experience with thousands of companies has shown us that many Entrepreneurs want the fastest and easiest route to incorporate their Singapore Company with no loose ends. We have anticipated the entire incorporation process and made it fast and painless process for you. Rikvin can incorporate your company within an hour if all documents are in order. Contactable: Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions. Rikvin Customer Service TELEPHONE: (+65) 6438 8887 FAX: (+65) 6438 2436 EMAIL: info@rikvin.com WEBSITE: www.rikvin.com ADDRESS: 20 Cecil Street, #14-01, Equity Plaza, Singapore 159471 HOURS: Monday – Friday, 8.30 am to 6 pm. Why Choose Rikvin Member of SAICSA The Institute of Chartered Secretaries and Administrators (ICSA) UK

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