The most common options for incorporation in Singapore are:

• Private Limited Company (Pte. Ltd.): The most popular choice, limited liability, various tax benefits, minimum 1 shareholder and director.
• Sole Proprietorship: Single owner, unlimited liability.
• Limited Liability Partnership (LLP): Suitable for professionals, minimum 2 partners, limited liability.
• Branch Office: Extension of an existing foreign company, subject to regulations.

You are welcome to read about types of companies in Singapore in more detail.

Company incorporation in Singapore can take from 1 day to a few days. Please keep in mind that some actions are dependent on a client, so if the client takes longer to assemble the necessary information, the process may take longer. Below are the timelines for each step of company incorporation.

1. Providing information about company structure and supporting documents: Anywhere from 1 hour to a few days (depends on the client).
2. “Know Your Client” (KYC) checks by Corporate Service Provider as required by law: 1-2 days, depends on the complexity of the corporate structure
3. Reservation of Company Name with ACRA: Less than 1 hour
4. Preparation of incorporation document set: 1-2 hours
5. Client Review and Signatures on document set: Anywhere from 1 hour to few days (depends on the client and number of signatories involved)
6. Incorporation with ACRA: 1-2 hours

The set of documents depends on who will be the shareholder of the new company:

For individual shareholder:

• Passport copy
• Singapore ID if the individual resides in Singapore
• Residential address proof (for example, a driver's license, a recent utility bill, rental agreement, etc.)
• Professional background description; e.g. in the form of a resume

For Corporate Shareholder:

• Certificate of incorporation of the company that will be the shareholder (i.e. the parent company)
• Business profile of the parent company containing information about its business activities, share capital, shareholders, and officers
• An ownership structure chart that identifies the Ultimate Beneficial Owners (UBO) of the parent company
• Board resolution from parent company authorizing the registration of a subsidiary company in Singapore

Incorporating in Singapore can offer several attractive tax benefits for businesses, making it a popular choice for entrepreneurs and investors. Here are some key advantages:

• Low corporate income tax: While Singapore's headline corporate tax rate stands at 17%, the actual tax burden for most companies is substantially lower due to a myriad of tax incentives and grants;
• Multiple tax exemption schemes;
• No capital gains or dividend tax;
• Extensive network of Avoidance of Double Taxation Agreements (DTAs).

Read more in our guide on the Singapore Tax System.