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.

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 9 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 offers consultancy for businesses that wish to form a Singapore company and operate it in compliance with Singaporean law. This includes assistance with the application for corporate bank accounts. Through our business partners we can also assist with corporate tax preparation and other related services.

It is mandatory for all Singapore companies to have at least one director who resides permanently in Singapore. DaneCorp’s CEO (Søren) is a permanent Singapore resident and – depending on a risk evaluation of your business – we can usually offer to add him to the board of directors of your Singapore company, thus fulfilling the requirement for a local director in Singapore. In that role, he will take a limited but active interest in the promotion of your business objectives and will thus not be a so-called nominee director. Should you only require a nominee director, we can arrange this through our business partners.

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 client companies with a local director in Singapore.

Since 2024, DaneCorp has assisted our office in Singapore with various administrative tasks such as payroll and the filing of documents with several different local authorities. We have been very happy indeed with the personable and professional service provided by DaneCorp, and we do not hesitate to recommend DaneCorp to other Danish and European businesses that wish to establish or maintain a subsidiary in Singapore.

Mai Vedel, CFO
BIMCO

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.

Thomas Mikkelsen
CEO, Thorco Projects A/S

 

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