Types of companies in Singapore
- Private limited company
- Responsibility
- Minimum capital
- Min. shareholders
- Recommended for
- Private limited company
- Limited
- 1 €
- 2
- SMB
- Public limited company
- Limited
- 1 €
- 50
- Big companies
- Limited partnership
- Unlimited
- None
- 2
- Associates
- Sole proprietorship
- Unlimited
- None
- 1
- Sole holder
Corporate tax rate in Singapore
In Singapore, the corporate tax rate is at 17%.
Tax reductions exist for new companies:
- Tax exemption on the first 100 000 SGD (65 000€) of taxable profits during the first three years,
- Tax rebate of 50% on the first 200 000 SGD (130 000€) of taxable profits during the next three years.
Questions
Why should I incorporate my company in Singapore?
- Singapore is a regional and international hub for goods and services commercialization.
- The flow of FDI is very high thanks to the favorable tax services offered by the country.
- Singapore is the first exporter of capital in India, thanks to important funds such as Temasek or the Government of Singapore Investment Corporation.
- The country stays competitive though high prices.
Which difficulties can be encountered in Singapore?
- The economy is dependent on exportations.
- The country is impacted by the slowdown of the Chinese economy.
- The population is aging which makes the recruitment of skilled labor pretty difficult.
Which are the cultural specificities of the world of work in Singapore?
- The hierarchy is important, respecting power is crucial.
- Having a professional network in Singapore is crucial, that’s called Guanxi.
- You should not embarrass a Singaporean or make him loose face; remarks and critics should not be made in public.
