APAC · Jurisdiction profile
🇸🇬 Doing business in Singapore
Foreign founders most often use a Private Limited Company. Singapore follows common law, with corporate tax of 17% (partial exemptions) and personal income tax of Up to 24%.
Entity at a glance
| Typical vehicle | Private Limited Company |
|---|---|
| Foreign ownership | 100% |
| Minimum capital | SGD 1 |
| Time to incorporate | 1–5 days |
| Corporate tax | 17% (partial exemptions) |
| VAT / GST | 9% |
| Dividend withholding | 0% |
| Resident director | Required |
| Physical office | Virtual accepted |
| Annual running cost | USD 3,000–8,000 |
| Audit | Threshold-based |
| Legal system | Common law |
| Currency controls | None |
Regulatory profile
- Data transfers: PDPA — comparable protection standard (residency approach: open).
- Employment termination: notice-based regime.
- Beneficial ownership register: regulator-only.
- Economic substance test: applies.
- Information exchange: CRS + FATCA IGA Model 1.
Compare Singapore with
Singapore vs Qatar (QFC)Singapore vs Qatar (Mainland)Singapore vs UAE (DIFC)Singapore vs UAE (ADGM)Singapore vs Saudi ArabiaSingapore vs BahrainSingapore vs United KingdomSingapore vs United States (Delaware)Singapore vs India
Figures are indicative and change often. Verify with qualified local counsel. Xc.legal is not a law firm.