🇸🇬 Singapore vs 🇮🇳 India
A side-by-side look at setting up a company in Singapore (Private Limited Company) and India (Private Limited Company), plus 4 regulatory differences to plan for if you operate in both.
| Criterion | Singapore | India |
|---|---|---|
| Typical vehicle | Private Limited Company | Private Limited Company |
| Foreign ownership | 100% | 100% under automatic route (most sectors) |
| Minimum capital | SGD 1 | No statutory minimum |
| Time to incorporate | 1–5 days | 15–30 days |
| Corporate tax | 17% (partial exemptions) | 22% (15% new manufacturing) |
| VAT / GST | 9% | 18% GST |
| Dividend withholding | 0% | 20% (treaty relief) |
| Resident director | Required | Required |
| Physical office | Virtual accepted | Required |
| Annual running cost | USD 3,000–8,000 | USD 2,500–8,000 |
| Audit | Threshold-based | Mandatory |
| Legal system | Common law | Common law |
| Currency controls | None | FEMA restrictions apply |
Operating in both: key conflicts
Data transfer: Incompatible cross-border data transfer regimes
One jurisdiction requires localisation or regulator approval while the other permits free flows. A single shared database or CRM will breach the stricter regime unless you localise storage or execute approved transfer mechanisms.
Employment: Termination regimes conflict
Notice periods and end-of-service entitlements differ; localise the termination and severance clauses.
Economic substance: Substance requirements apply on one side only
Directors, decision-making and core income-generating activity must be demonstrably located in the jurisdiction that imposes the substance test. Shared board meetings held elsewhere will fail the test.
Treasury: Capital movement restrictions on one side
Repatriation of dividends, loans and intercompany balances is regulated in one jurisdiction. Cash pooling across the group will require prior approval or will be blocked.
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Figures are indicative and change often. Not legal or tax advice — confirm with qualified counsel.