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For its ease for entrepreneur to setup new businesses, Singapore had been a regular awardee by World Bank Group for being the best place to do business, among 190 other countries. The following factors contributed to such recognition:

  1. Singapore government and authorities laid their policies in plain guidelines for business owners and management to follow. Business owners need not worry about the as long they follow exactly what was set.

  2. Singapore provides a big pool of skilled talents input by nations from all around the globe. The big culture-pot allowed Singapore company to get the required human-resources without hassle.

  3. The world-class and modern infrastructure established by Singapore government built a startup-friendly environment for ambitious entrepreneurs. This includes aspects like technology, financial, hardware as well as communications.

  4. Singapore legal system stands to be the most complete, fair and impartial legal system among most developed nations. Being one of the countries with the least corrupt rate, Singapore governing authority enforced laws by local courts, which jurisdiction is well-respected by wide nations.

  5. Multiple tax breaks and deductions encourage businesses to involve more in product R&D as well as the development of their manpower in terms of skills and knowledge.

  6. Singapore government actively involved in the protection of Intellectual Property (IP) making it among the top countries for IP protection, according to U.S. Chamber International IP Index.


There are several requirements for registering a company in Singapore, which includes:

  • A minimum of 1 and a maximum of 50 shareholders is required. They can be either local or foreigners, and can be natural persons or corporate entities.

  • A minimum paid-up capital of S$1. The company can increase its share capital at any time by additional capital.

  • Both Singapore-resident and foreign-resident persons can be directors of a Singapore company. Corporate directors are not allowed. A minimum of ONE Singapore-resident director is required.

  • A company must appoint a qualified company secretary within 6 months of incorporation. The company secretary must be a natural person and a resident of Singapore.

  • All company are required to have a local registered address in Singapore where the company will keep all of its statutory documents. This address cannot be a PO box.

  • The name of company must be approved before proceeding with the registration of the company.



Under multiple circumstances (e.g. owner retirement, lack of profitability, directors conflict) a business might decide to cease its operation. Business owner / company’s director may apply to ACRA to strike-off the company’s name from the registrar. The approval from ACRA on the strike-off operation are subject to criteria as below:

  • The company has not commenced business since incorporation or has ceased trading.

  • The company has no outstanding debts owed to Inland Revenue Authority of Singapore (IRAS), Central Provident Fund (CPF) Board and any other government agency.

  • There are no outstanding charges in the charge register.

  • The company is not involved in any legal proceedings (within or outside Singapore).

  • The company is not subject to any ongoing or pending regulatory action or disciplinary proceeding.

  • The company has no existing assets and liabilities as at the date of application and no contingent asset and liabilities that may arise in the future.

All/majority of the director(s) authorise you, as the applicant, to submit the online application for striking off on behalf of the company. 



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Why choose JT Accounting?

JT Tax & Accounting Services supports individuals and groups to setup their own business in Singapore by offers complete incorporation solution for the past few years. Our experts helps make the whole process a breeze. This service is available for both local and multinational organizations, and go varies in different sectors.

We often send our experts to seminars and workshops to ensure we are updated with the latest regulations and technology, so as to respond to the trust given by our loyalty customers. Your satisfaction serves to be our greatest motivation.

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