Value Starter
S$388
ACRA fee for Name application & Company Incorporation ($315)
Provide assistance in Corporate Bank Account Opening
Company Business Profile & Constitution
Value BizStart
S$650
Everything in Value Starter plus:
18 Months of Corporate Secretarial Services
Company Incorporation consultation
First Board of Director Meeting
One Round Company Stamp (Self-Inking)
SMS & Email reminders for Government Filing Deadlines
30 Days MYOB (Accounting Software) Trial
Value BizMax
S$750
Everything in Value BizStart plus:
12 Months Registered Office Address Services
12 Months of General Fax Services
Mail collection notification through Email & SMS
Top up $100 for Facebook Marketing Course (Worth $298)
Super ValueBiz
S$1450
Everything in Value BizMax plus:
1st Year Compilation of Unaudied Financial Report (Conditions Apply)

*Mandatory to have at least 1 Singapore Citizen or P.R. to act as Resident Director in the Company
*$388 package is only for 1 individual
*Additional $80 per person will be charged on top of the package price for companies with more than 2 individuals for Value BizStart, Value BizMax and Super ValueBiz
Conditions for Compilation of Unaudited Financial Statement
* No consolidated/ audited Financial Statements
* Accounts should not have more than 1 Loan or Hire Purchase item
* Accounts should not have construction contracts

Want to find out more regarding Singapore Company Incorporation?

Below is a basic guide to Singapore Company Incorporation.

Singapore Company IncorporationWhat is a Company?

It is a legal entity that is distinct and separate from its shareholders and directors.

Members or sometimes referred as shareholders are not liable for the company’s debts beyond the share capital that shareholders is purported to contribute to the company. This creates limited liability for the company’s shareholders.

In order to register a Company in Singapore, natural person – foreigners or local above the age of 18, of sound mind and capability can register a Singapore Company.

Different Types of Company in Singapore

Exempt Private Company –20 members or less and no corporate entity (i.e. another company) holds beneficial interest in the company’s shares which is more common for new start-ups as yearly maintenance fees like corporate secretarial services, unaudited financial report services and corporate tax filing fees is relatively lower.

Private Company – 50 members or less.
Public Company – can have more than 50 members.

Singapore Company Incorporation Required Documents

The below information is required for the purpose of Singapore Company Incorporation by ACRA:

  • 3 Proposed Company Names.
  • Brief Description of 2 Main Business Activities.
  • Shareholders Particulars such as passport copy, proof of foreign address for foreigners, NRIC copy front and back for Singaporeans / PR.
  • Directors Particulars such as passport copy, proof of foreign address for foreigners, NRIC copy front and back for Singaporeans / PR.
  • Registered Address location (whether in A1 or other address except PO Box Address).
  • Amount of Paid-up capital.

Note that officially endorsed translated versions must be provided for any non-English documents.

Taxation of Singapore Companies

Some jurisdictions are on the territorial system (e.g. country such as Singapore) whereas others have adopted a taxation based on worldwide basis (e.g. Australia, US).

The tax exemption scheme for newly registered companies was introduced in ( YA) Year of Assessment 2005 to support business entrepreneurship and to help our local businesses grow.

Under this scheme, a newly incorporated company that satisfies qualifying conditions can claim for full tax exemption on the first $100,000 of chargeable profits or income for each of its first three consecutive Year of Assessments.

Starting from Year of Assessment 2008, an additional 50% exemption is given on the next $200,000 of the normal chargeable income for each of the first three consecutive Year of Assessments.

Excellent tax benefits and business reputation of Singapore are the main reasons why entrepreneurs from all around the globe prefer to register a company in Singapore.

Singapore Company Incorporation Procedures

The submission for Singapore Company Incorporation is done through government portal www.bizfile.gov.sg and therefore Singapore Company Incorporation process is quick and efficient and can happen as fast as 1-2 hours subjected to ACRA’s approval of the Company Name.

The first step Singapore Company Incorporation or Singapore Company Formation is to obtain the Company name approval by ACRA, and followed by submission to ACRA for Singapore Company Incorporation once Company name is approved.

Company names containing certain words such as bank, finance, law, media, etc. might subject the Company name for approval by an external government agency. If the name is referred to an external agency, the name approval may get delayed by few days to a few weeks.

An approved name will be reserved for 60 days from the date of application and you can extend the name for another 60 days by filing an extension request with an additional payment of SGD$15 before the name expiry date.

Once the company name has been approved, we can now proceed to file for Singapore Company Incorporation with documents duly signed off by all directors and shareholders of the company.

Post Singapore Company Incorporation – Documents / Stationery will be issued to you by A.1 Business Pte Ltd and other matters

Opening a Corporate Bank Account for your Company.

Upon successful incorporation of Singapore Company, you may then open a corporate bank account in any of the major banks in Singapore. Most banks require physical presence of company directors and bank signatories to sign the bank account opening documents in the bank officer’s presence. Documents to bring include your travel documents, NRIC, Memorandum and Articles of Association, business profile and proof of foreign address for foreigners.

Bank account opening will be subjected to the banks’ approval.

Certain Business Activities Requires License Applications Prior to Start of Business

Depending on the company’s business activities, directors will may need to apply the relevant license prior to the start of business. Examples are: Food Shop Licenses for Restaurants, Cafes, Snack Bars, Private Schools, Travel Agencies, Money Changer, Money Remittance, Employment Agency and etc.

Singapore Companies Annual Filing Requirements.

The Companies Act and Income Tax Act will require Singapore Companies to fulfill certain annual filing requirements and formalities.

Example: All Singapore companies have to submit (ECI) Estimated Chargeable Income within 3 months from the end of their accounting or financial year end.

ECI meaning Estimated Chargeable Income. It is the estimate of a company’s chargeable income for a YA also known as Year of Assessment.

All locally incorporated companies are required to hold their Annual General Meeting (AGM) & file their annual returns under Section 175, Section 197 and Section 201 of the Companies’ Act.

At the AGM, directors shall present a true and fair view of the company’s accounts to their shareholders.

Read more on, Singapore Company Formation

Licence Application

Who needs to apply for a licence?

Go to the following website to find out if the application of licence is applicable to your company operating activities.

https://licence1.business.gov.sg/web/frontier/home

Please type in the keyword in ‘Find licence(s) by Keyword’

 

Participating Licencing Agencies

  • AVA – Agri-Food and Veterinary Authority
  • ECDA – Early Childhood Development Agency
  • CPE – Council for Private Education
  • HSA – Health Sciences Authority
  • HLB – Hotels Licensing Board
  • HDB – Housing & Development Board
  • IDA – Infocomm Development Authority of Singapore
  • IE – International Enterprise Singapore
  • MDA – Media Development Authority
  • MOE – Ministry of Education
  • MINLAW – Ministry of Law
  • MOM – Ministry of Manpower
  • PUB – Public Utilities Board
  • NEA – National Environment Agency
  • SCDF – Singapore Civil Defence Force
  • SPF – Singapore Police Force
  • URA – Urban Redevelopment Authority

 

When do you need to register for a licence?

After incorporating your company, which means getting your company’s UEN. Companies belonging to a certain trade will need to apply for a licence before the start of the company’s operations.

 

Before applying for a licence

For licence details, please refer to the respective agency’s website. You will also need to get ready your company’s Business Profile and supporting documents (if any) to proceed on with the application of licence.

 

How to apply for a licence?

Visit this website to complete your application for the licence(s) by using your SingPass. For foreigners without SingPass, you may request for a user account to complete the application. https://licence1.business.gov.sg/web/frontier/home

 

For any enquiries

Please contact the LicenceOne hotline number: 67741430 or email LicenceOne at licences-helpdesk@crimsonlogic.com.

 

Step-by-Step guide on licence application

Please refer to the following website for a step-by-step guide on the online licence application.

https://licence1.business.gov.sg/web/frontier/help/download-user-guide

Testimonials from our valued customers


Company Incorporation Service

“The A1 Staff has been very helpful and have advice us much about the entire process! The staff is also very patience in handling our complicated case. Thank you very much, A1!”

Company Incorporation Service

“The A1 staff has been very helpful and patient when providing information when asked, and she responds to most of my questions when I am in doubt. I would recommend A1 Business to my friends if they do require such services.”

Company Incorporation Service

It’s pleasant. The whole process is seamless and very pleasant. Great!

Company Incorporation Service

“Good customer service. Very helpful!”

Company Incorporation Service

“To me, company formation always seems complicated and full of paper work. I am happy that A1 is proficient in helping people like us to start new companies effortlessly. Their staff is patient and knowledgeable with our questions and always able to find a solution or suggestion for us. I would strongly recommend anyone to get A1 to help incorporate your business in Singapore.”

Company Incorporation Service

We find A1 staff service was helpful, fast & informative. The services are value for money.

Company Incorporation Service

“Good service, prompt & helpful staff”

Company Incorporation Service

“A1 provided fast, efficient and useful source. The staff is knowledgeable and answer all my questions. I recommend A1! Thanks!”

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