Company Formation and Administration in Singapore
Form your Asian subsidiary in Singapore through a reliable and experienced company administrator managed by Danes
DaneCorp Pte Ltd was formed in Singapore in 2020 with a view to serve Danish and other European businesses that wish to establish themselves in East Asia.
The two owners of DaneCorp are both experienced Danish businessmen. Søren has pursued a career with Maersk, the large Danish shipping conglomerate, in various countries, and Nicolai has 15 years of experience heading his own corporate service provider business in the United Kingdom.
Both have valuable experience from shipping as well as other lines of business.
We can offer the following services:
- Company formation
- Company administration
- Assistance with bank account opening
- Application for Singapore Employment Permit
- Application for Singapore Dependent Pass
- Application for Singapore Permanent Residency
- Preparation and filing of Annual Accounts / Financial Statement
- Preparation and filing of Corporate tax returns
- Payroll management
- Application for GST registration
- Filing of quarterly GST returns
- Book-keeping
- Mail forwarding
- Registration of Data Protection Officer
- Company dissolution / strike-off
- Cancellation of Employment Permit
- Cancellation of Dependent Pass
- Bespoke consultancy for anything not listed above
There are many reasons why your Asian business activities should be based in Singapore – see below.
- Business-friendly legislation
Singapore exists thanks to laws that favour business. Intellectual property, for instance, enjoys strong protection, and the courts of law have a reputation for professionalism, impartiality, and efficiency in business matters.
- Economic and political stability
The economy of Singapore is strong and has withstood serious challenges since the country became independent in 1965. The nation has been led by the same business-friendly political party since then.
- Highly qualified local labour force
Singaporeans are both highly educated, hard-working, and English-speaking. The government of Singapore offers substantial incentives to new businesses employing local staff.
- Low taxation
The corporation tax rate of Singapore is currently 17 per cent and a number of Double-taxation Treaties have been included with a long list of countries. GST (VAT / Sales Tax) is 8 per cent. In principle, only companies with customers in Singapore need register for GST, and then only if they turn over more than 1 million SGD annually.
- Ideal infrastructure
Changi Airport – the main airport of Singapore – is one of the largest airports in Asia and has been named by Skytrax as the world’s best airport for several consecutive years since 2013. Taxies in Singapore are cheap, comfortable, and plentiful. The metro transport system is modern and efficient.
DaneCorp has concluded partnership agreements with some of Singapore’s best Corporate Service Providers and accountants. When you form a company in Singapore through DaneCorp, these partners will thus carry out most of the day-to-day administrative tasks. However, communication between them and you will mostly go via us, thus ensuring that there are no misunderstandings in terms of what is required and expected by each side.
It is mandatory for all Singapore companies to have at least one Director who resides permanently in Singapore. DaneCorp’s CEO is a permanent Singapore resident and can usually offer to fill the role of local Director for the client’s company.
DaneCorp’s primary sources of income are the wholesale discounts that our business partners can offer us due to the volume of business that we bring them, our fee for assisting client companies with the opening of a local bank account in Singapore, and our fee for providing the client company with a Singapore permanent resident as Nominee Director.
DaneCorp has been instrumental in not only establishing a new Singapore subsidiary of our Danish head office, but also in opening a bank account for the new company and securing Singapore work permits / Employment Passes for our expat staff. We highly recommend the experience, professionalism, and excellent communication offered by DaneCorp to Danish companies and others who wish to establish themselves in Asia.
Contact us today!
Call or e-mail us to hear more about how we can assist you with the establishment of your business in Asia’s business capital.