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Singapore is one of the world’s leading international financial centres, third most globalized economy among 60 of the world’s largest economies, a major capitalist service economy characterized by low taxation and free trade. Singapore is the best ease of doing business over the world as World Bank. Singapore private limited company is most popular and easier for foreigner.
All business and bank account outside Singapore is tax-free (Multistream Status), Singapore company formation requires a minimum of one Local Director who is Singaporean citizen.
Singapore Private Limited Company Formation (Pte. Ltd), initially Our Relationship Managers team will ask You have to provide the detailed information of the Shareholder/Director’s names and information. You can select level of services you need, normal with 3 working days or 2 working days in urgent case. Furthermore, give the proposal company names so that we can check the eligibility of company name in Singapore Corporate Regulatory Authority (ACRA) system. Our services included Local Secretary who is local Singapore citizen.
You settle the payment for Our Service fee and official Singapore Government Fee required. We accept payment by Credit/Debit Card 
, Paypal 
or Wire Transfer to our HSBC bank account 
After collecting full information from you, Multistream International will send you a digital version (Certificate of Incorporation, Register of Shareholder/Directors, Share Certificate, Memorandum of Association and Articles etc.) via email. Full Singapore Multistream Company kit will courier to your resident address by express (TNT, DHL or UPS etc.).
You can open a bank account for your company in Europe, Hong Kong, Singapore or any other jurisdictions where we support Multistream bank accounts! You have the freedom to make international money transfers from your new Multistream account.
Your Singapore Pte. Ltd formation completed, ready to do international business!
Director/Shareholder’s Passport(s)
Director/Shareholder’s Residential Address Proof(s) (for example: Electricity/Water/Phone bill…not older than 03 months)
Yes, a Singapore company is required to have at least one local resident director. In order to qualify as locally resident, the person must:
A director must be a natural person and over 18 years old. Corporate directors are not permitted.
Yes, Singapore Companies Act allows for 100% ownership of Singapore companies by foreign persons or entities.
There are also no restrictions on the type of business activities that a company can engage in. No special approvals are required by foreigners. In other words, there is no difference between a local or a foreign person who wishes to form a Singapore company.
A business owned by one person.
An association of two or more persons carrying on business in common with a view to profit.
A partnership consisting of two or more persons, with at least one general partner and one limited partner.
A partnership where an individual partner’s own liability is generally limited.
A business form which is a legal entity separate and distinct from its shareholders and directors
The requirements for setting up a Singapore company:
Each Singapore company must appoint one Singapore resident director.
If you are a foreign business professional or a foreign entity who does not have a local director, you can utilize our Local Director service to satisfy this statutory requirement.
The service can be provided on a short-term or annual basis as below:
Please note that in Singapore, a Local Director has the same responsibilities as any other director. Therefore providing a local director for your company imposes certain responsibilities on you as well as us and we would like to highlight the terms of our local director service as below.
Note that a higher local director or security deposit fee may apply if your company falls under any of the following:
| Who acts as the executive director(s) of the company i.e. who runs the company? | Client |
|---|---|
| Who acts as the bank signatory? | Client |
| Who signs contractual and financial documents of the company? | Client |
| Who acts as the shareholder of the company? | Client |
| Is local director involved in any matters of the company except to satisfy the statutory local director requirement? | No |
No, you are not required to visit Singapore to incorporate your subsidiary company or register a company in Singapore. We can work with you via emails and document couriering in order to get the necessary work done.
However for the bank account opening, all banks in Singapore require an interview with the stakeholders and the process can go a lot smoother if there is a face-to-face meeting between you and the bank officer, otherwise we can support open bank account in other countries remotely.
Yes, it is necessary for a Singapore company to have at least one director who is a local resident. In order to qualify as a local resident of Singapore, the individual has to be a Singapore citizen, a Singapore permanent resident or an Employment Pass holder (the employment pass must be from the same company where the individual wants to be a director).
Furthermore, the local director must be a natural person above the age of 18 years and not a corporate entity. Foreign companies or entrepreneurs who wish to incorporate and operate a Singapore company can either:
A) Have a foreign executive relocate to Singapore to act as the resident director (subject to the approval of their work pass);
B) Or use the Singapore nominee director service of a corporate services firm to meet the resident director requirement.
A virtual office address in Singapore is a real street address for the business office is the best choice management today.
The virtual office address can help your business in secure and faster sending and receiving of mails, plus other benefits for business offices and personal use. This keeps your home address private in other ads and websites.
The virtual office will have a business address in Singapore to ensure the owners can reach their business anywhere in the world. Establish and maintain a professional network with a specific business address, and allow themselves the freedom and dynamic in a working environment, accessing the global communities without their presence in Singapore.
Multistream International offers your business the incentive packages in owning a virtual office as well as the address in Singapore. A virtual office is an ideal solution for work-life combinations.
Starting a business in the right place is one thing, but choosing the right kind of businesses to operate is an important factor that can affect your business in future.
If you are interested in setting up business or open a company in Singapore. There are 5 best business to start in Singapore.
Singapore is a tiny country which has only about 0.87 percent of total land area for agricultural purposes. Therefore, a small number of businesses are working in the agriculture industry and the demands for food and other agricultural products are very huge.
Experts expected that the number of e-commerce users is expected to increase by 74.20% in 2020. Online shopping is a profitable business in the Singapore retail industry.
Singapore is known as the most fashion-forward trend in the region. Singapore is “heaven” for businesses operating in the fashion and retail industry.
Spa and massage services have strongly developed in Singapore. Both men and women are likely to choose to get pampered with luxurious treatments after a hard-working day.
Tourism & Travel are potential profit markets for foreign businesses with around 50% of Singaporeans above the age of 15 who are traveling at least once a year.
Singapore is the most developed country in Southeast Asia.Tax Incentives, International Ranking, Company Formation process, and Government policies are the main reasons foreign investors and businessmen invest in Singapore.
Singapore’s government offers a variety of tax incentives for businesses and investors such as Corporate Income Tax, Double Tax Deduction for Internalization, and Tax Exemptions scheme.
The country was nominated as the #1 best business environment in the Asia Pacific and the world in 2019 (The Economist Intelligence Unit) and the top of the Global Competitiveness Index 4.0 after overtaking the United States (The Global Competitiveness Report, 2019).
The company formation process in Singapore is considered easier and quicker than other countries, the process takes one day to complete given all the required documents are submitted. The process becomes simpler and more convenient when applicants including foreigners can submit their application forms through the internet.
Singapore strongly supports free trade and engagement with the global economy. Over the years, the country has developed its network of Trade Agreements within over 20 bilateral and regional FTAs and 41 Investment Guarantee Agreements.
Singapore has been known as the most friendly-environment country for businessmen and investors. The Singapore government has always improved its policies to support businesses.
As the advantages for investors and businessmen are listed above with government policies, Singapore has attracted more and more foreign companies to set up business in the country.
Whether you are living overseas or a non-resident in Singapore, you can still open a personal bank account in Singapore without having to visit Singapore. However, the foreign or non-resident business owners need to visit the banks to open corporate bank account in Singapore.
The representatives of the banks will interview the applicants before making the final decision whether you are approved for opening a corporate bank account in Singapore or not.
The main reason for most foreigner opening bank account in Singapore is because of the safety factors that Singapore brings to individuals and businesses. In addition, although many other banks in the world are rated safe for individuals and businesses who want to open a foreign bank account for saving, investments, and trading, banks in Singapore are always the first choice and are considered for the convenience of account holders in logging into the banking system to manage accounts.
In other banks, international transactions often take a lot of time to make and have to go through a lot of complicated calls and exchanges between bankers and account holders.
After the clients (the non-residents or foreigners) submit online applications to the banks, the representative from the banks will contact the applicants to submit additional documents required to open a Singapore bank account for foreigners.
Some well-known banks among businesses to open accounts in Singapore for the non-residents business owners and investors:
DBS Bank: It has various accounts, including Business Edge Accounts and Business Edge Preferred.
DBS offers the applicants the option of multi-currency accounts when they apply to open bank accounts with DBS. Most of the services are available to foreign customers. That makes the non-residents account holders can easily manage and transfer their money anywhere.
OCBC Bank: Another bank for foreign business owners to consider to open bank accounts in Singapore is OCBC Bank. However, the application process required a resident of Singapore to fulfill all required conditions.
UOB Bank: Foreign businesses can also apply with UOB Bank to open the corporate bank account in Singapore. However, for the non-residents, they can apply for an account with UOB by attending a meeting in person at a UOB branch.
Singapore is the top of the world in finance. Therefore, it is not surprising that many foreign investors and entrepreneurs want to set up their companies in Singapore. Some popular options for the type of Singapore company formation for non-resident can consider are:
Subsidiary: the foreigners already have their own business, now they want to expand to other markets in Singapore, so they open more other companies in other countries. In addition, subsidiaries are legally separate from the parent company, they can get tax advantages for Singapore company formation.
Branch office: a branch office would be a good choice for companies if the investors want to set the company up within the short-term in Singapore. It means the market expansion can be as soon as possible. The parent company will help the branch office in all activities and operations.
In addition, the registration process for company formation is simple and quick in Singapore. It can be done online by the parent company. However, the branch office is not a resident entity, it cannot be available for any tax exemptions.
Representative office: this kind of office is suitable for business and wants to learn more about Singapore. They want to research and collect more data and information which relate to their industry business that they are planning in Singapore.
It makes sure their money is spent at the right place and saves time when they start to run the company, especially this way is more useful for Singapore non-resident.
Re-Domiciliation: the process helps to transfer its registration from jurisdiction company to Singapore to become a local company instead. Singapore non-resident can use this kind of business for company formation in this country.
