The operational capabilities of Amicorp Singapore permit a variety of structures to be originated, managed and administered for different stakeholders:
The Singapore Company
- Strategically located gateway to Asia;
- Solid commercial base of operations;
- Time zone appropriate for most countries;
- Reputation for transparency and efficiency;
- Stable government and political system;
- Certainty of law and legal system;
- Low corporate income tax (17%) and no custom duties;
- Resilient economy during past financial crises;
- Natural incubator for start-ups and investments; and
- Wide network of tax and trade investment treaties.
Profile of a Private Limited Company
Profile of a Private Limited Company
- Can be incorporated within 1-2 days;
- Governed by its Constitution and the Companies Act;
- Minimum Capital of SGD 1 only;
- Requires only one shareholder, either corporate or individual;
- At least one Singapore resident individual director mandatory;
- Requires an individual to serve as corporate secretary;
- No statutory audit required if annual turnover ≤ SGD 10,000,000;
- No Goods & Service Tax if annual turnover ≤ SGD 1,000,000;
- Obligation to file annual financial statements and income tax returns; and
- Regulated by the Accounting and Company Regulatory Authority (ACRA) which has a public registry.
The Annual Statutory Compliance Cycle
- Typical year end for Singapore companies is 31 December. However, there is no restriction.
- First Annual filing must be completed no more than 18 months from date of incorporation.
- Company income tax payments are made on monthly instalments based on the filing of the Estimated Tax Income. The final tax liability is determined based on an assessment generally within 6 months of submission of the income tax return. A balancing amount will be added / deducted from the monthly instalments.
- Review of business profile of company incorporation;
- Preparation and registration of the constitution;
- Appointment of first Director(s) and set up of company registers, and registered office;
- Organization of share equity for multiple shareholders;
- Preparation and provision of company seal,company stamp and share certificates;
- Opening of bank account(s) and establishment of operational controls; and
- Certificates of good standing and tax resident certificates.
- Issuance of customized debt or equity with preferential economic or management rights;
- Investment holding;
- Corporate reorganizations, mergers, amalgamations and integrations;
- Joint venture establishment;
- Planning and execution of capital raisings through debt or equity;
- Fund structuring and administration; and
- Reduction of capital.
- Establishment of bespoke entities – representative offices, branches, limited liability partnerships, company limited by guaranteed funds, trusts, charities and societies;
- Corporate custodians, trustees and nominee shareholders;
- Transaction monitoring; and
- Employee share & option schemes.
Management and Governance
- Provision of qualified directors and company secretaries;
- Drafting and administration of governance manuals;
- Remediation and/or rectification of company registers;
- Arrangement of D&O or professional indemnity insurance;
- Arrangement of short term office space for company expansion;
- Organization of physical shareholder and director meetings;
- Review and execution of legal documentation with appropriate
- resolutions; and
- Establishment of performance metrics.
Back Office Service Suite
- Real time banking, bookkeeping and accounting;
- Preparation of annual financial statements & XBRL;
- Preparation of annual income tax compliance;
- Preparation of goods & services tax returns;
- Management accounting and reporting;
- Employee payroll, CPF and incidentals; and
- Singapore work visas.
- Establishment of bespoke processing arrangements-transaction monitoring, intercompany loans, FATCA and Common Reporting Standard filings;
- Budgeting and forecasting;
- Decision making models;
- Financial sensitivity analysis; and
- Financial modelling.
The relationship management of Amicorp Singapore is organized into specific market teams to match our experience and expertise with our clients. Languages spoken include English, Spanish, Mandarin, Cantonese, Hindi, Bahasa Indonesia, Dutch, and French.
For more detailed information about Amicorp’s service offering, our commitment to global transparency and compliance, and Amicorp’s own four pillars of Assurance, please visit our Services pages.