Location South East Asia
Population 4.0 million
Native language Malay, English, Mandarin and Tamil
Currency S$ (dollar)
Constitution & Political status/stability Westminster Model. Democracy
Banking & professional facilities Most major international banks operate in Singapore. International accounting firms and both local and foreign law firms
Legal system Based upon English Common Law
Offshore specialities/expertise International holding companies, captive insurance, tuna management

Income tax
resident 26%
non-resident 26%
resident 24.5%
non-resident 24.5%
Corporate tax
resident 24.5%
non-resident 24.5%
exempt N/A
Estate duty Yes
Withholding taxes Yes, 24.5% (Dividends: nil; 15% on interests, royalties and rental equipment)
Exchange controls
resident No
non-resident No

Are trusts permitted? Yes.
Perpetuity period Life in being +21 years
Accumulation period Accumulations Act 1800
Statutory trust law Yes
Trust duty No
Forced heirship exclusion No
Asset protection measures No
Trust register No
Resident trustee/s required No
Regulation of trustees Yes

Type of corporate vehicles Private and public companies
Incorporation time scale 1-2 days
Fees: Incorporation - Government Flat S$300 regardless of capital
Other S$ 1,500-S$2,000
Annual -
No fixed annual fee - nominal fees (S$20) for filing of various returns
Other S$ 1,500 minimum
Resident directors required Yes
Min number of directors required 2
Directors meetings required Yes
Other requirements Resident and Qualified Company
Beneficial ownership disclosure No
Shareholder disclosure Public
Minimum number of shareholders Two
Bearer shares allowed No
No-par value shares allowed No
Public share register Yes
Shareholders meetings required Yes
Frequency Annual
Place Anywhere
Annual return required Yes
Audit required Yes
Foreign currency accounting allowed Yes
Registered office Yes
Registered agent No
Stamp/capital duty Yes
Naming your company Approval required
Company mobility provisions/redomicility rules No