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| INTRODUCTION |
Singapore is situated at the southern tip of the Malaysian Peninsula. It is a British Commonwealth country that gained independence from Great Britain in 1965, but still retains close links with the British Crown. Singapore is well known as one of the leading international financial centers with an advanced economy.
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| LAW AND TAXATION |
The most outstanding characteristic of a Singapore entity is that it is not perceived as a tax avoidance entity. A Singapore company can be structured as "resident" or "non-resident" for taxation purposes. The main difference between the two is that only "resident" companies are entitled to benefit from Singapore's extensive double tax treaty network.
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| CORPORATE REQUIREMENTS SUMMARY |
- The government fees depend on capital
- The fee is due only at the time of incorporation and does not affect the annual service fees
- There must be at least two directors of which one must be a Singapore resident
- There are no publication requirements
- An annual return is required to be filed by domestic and foreign corporations. They are due at the end of their fiscal year
- The Registrar also requires audited accounts. In fact, an auditor must be appointed within three months after a company is registered
- In general, the name of a public company must end in the word "Limited"
- The name of a private company must end in the words "(Private) Limited" or "(PTE) LTD."
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| **CSC does not provide legal or financial advice** |
