Frequently Asked Questions
Quick answers about incorporation, company secretary, tax, accounting and financial statements in Singapore.
Company Incorporation in Singapore
Yes. A Singapore company can be wholly foreign-owned, but it must have at least one director who is ordinarily resident in Singapore.
The minimum paid-up capital is S$1. You can increase it later as the business grows.
Usually within one working day once all documents are signed, unless ACRA refers the company name for review by another agency.
Corporate Secretarial Services
Yes. Every company must appoint a company secretary within 6 months of incorporation, and a sole director cannot also act as the company secretary.
ACRA may impose late filing penalties and take enforcement action against directors. We track your deadlines and remind you well ahead of time.
Yes. We handle the change of company secretary and the handover of your statutory records.
Corporate Tax Filing
Form C-S (Lite) is for companies with revenue of S$200,000 or less, and Form C-S for revenue of S$5 million or less that meet the other qualifying conditions. All other companies file Form C.
Yes, unless IRAS has granted the company a waiver from filing.
Qualifying new companies get a 75% exemption on the first S$100,000 of chargeable income for each of their first three years of assessment.
Accounting and Bookkeeping
Monthly, quarterly or yearly, depending on your business and reporting needs. We agree a schedule with you upfront.
Yes. We prepare GST returns for GST-registered companies.
Yes. We can bring your records up to date. Catch-up work is quoted separately.
Compilation of Financial Statements
A private company is generally exempt from audit if it qualifies as a small company, meeting at least two of these for the past two financial years: revenue of S$10 million or less, total assets of S$10 million or less, and 50 employees or fewer.
A compilation means we prepare your financial statements from your records. An audit is an independent examination that gives an opinion on the statements.
Your accounting records for the year, bank statements and details of any loans, assets or significant transactions.
Get in touch
Email us at enquiries@supremecorporate.com.sg and we’ll reply within one working day.