TAXMANTRA – THE EASIEST BRIDGE TO SINGAPORE

We are the bridge between global and Singaporean entrepreneurs, investors and innovators that are changing the world, building a compliant business ecosystem globally.

THE TAXMANTRA ADVANTAGE

  • Offices in both India and Singapore
  • In-house Professionals with 30+ Years Experience
  • Comprehensive International Tax and Legal Solutions
  • Strong Tie-up with Government Agencies

RANGE OF SERVICES

  • Setting Up

  • Accounting & International Taxes

  • Nominee Directorship

  • Payroll and Secretarial Services

  • Registered Office

  • Global Fundraising & Legal

  • Drafting Work Permit & Visas

CA Alok Patnia

CEO & Managing Partner atTaxmantra Global Network Firms

View Profile

Alok is the CEO and Managing Partner at Taxmantra Global Network Firms. He is a Fellow Member of the ICAI (FCA), an alumnus of St. Xavier’s College, Calcutta, with post qualification exposure in KPMG and Ernst & Young. He has authored more than 2K blogs on Taxmantra.com and also writes as guest author on platforms such as YourStory.com, Moneycontrol.com.

Kenneth Ho

VP Operations – TaxMantra
Global Network (Singapore)

View Profile

Kenneth Ho currently serves as VP Operations (Singapore) as Taxmantra Global Network firms, is a professional trained Accountant with more than 10 yeaars of experience gained from his employment with 2 mid-tier international accounting firms and 2 global outsourcing firms. Not limiting his exposure to accounting compliance, his experience includes corporate secretarial compliance, personal &and corporate tax compliance, Goods and Services Tax (GST) compliance and payroll compliance services too

Frequently Asked Questions

  • 1) Why should I setup my company in Singapore?

    • A well-developed economy backed by a strong financial system,
    • A logical tax system with low tax rates (one of the lowest in the developed nations) and with limited restrictions on repatriation of profits or import of capital,
    • Efficient and simple process for incorporating and running a new company
    • Strategic geographical location having admirable infrastructure facilities
    • Well-functioning government that is free of red-tape or corruption (Singapore ranks among top 5 countries in the World in Ease of Doing Business), and
    • Robust Start-up Ecosystem with quality Funding and Networking Opportunity for entrepreneurs
    • Helpful to raise debt at low interest rate
    • Stable political situation in the region
    • Strong Intellectual Protection Norms in place which helps to protect the IPR effectively
    • Very good International relation with countries including India which helps to attract clients and employees
  • 2) Is audit mandatory for my company in Singapore?

    Audit is mandatory if you meet 2 out of the 3 criteria:

    • Annual Revenue exceeds S$10 million per FY;
    • Total Assets is more than S$10 million
    • More than 50 employees

    If the company has a corporate shareholder, the above criteria will be determined on a group basis instead.

  • 3) Is GST registration required?

    GST registration is mandatory only if the company exceeds S$1 million and more in terms of sales revenue in any FY. However, company can also voluntarily register for GST but must stay as GST registered for minimum 2 years.

  • 4) What is the tax rate in Singapore?

    The corporate tax rate is flat 17%. However, prior to being taxed at 17% flat, there will be certain tax exemption schemes to be deducted to assist to lower the tax payable liabilities. A detailed review can be understood by reading our blog.

  • 5) I wish to be the Sole Founder of the Company in Singapore. Can I do that?

    You can start your company in Singapore with just one shareholder.

  • 6) Is there a requirement of Resident Director to register my entity in Singapore?

    Yes, as per the Singapore laws, at least one Resident Director shall be appointed in the Company registered in Singapore. You may reach us if you have a requirement of Directorship Services at reasonable price.

  • 7) What is the Dividend Tax Rate?

    There is no Dividend Tax in Singapore as dividends are declared and paid net after tax from the corporate profits.

  • 8) Is there a requirement of Registered Office in Singapore?

    Yes, a company must have a registered office in Singapore. You may reach us for getting a Registered Office at reasonable price.

  • 9) Is there a requirement of appointing Company Secretary to start business in Singapore?

    Yes, a Company in Singapore must have a Company Secretary who takes the secretarial responsibility on behalf of the company. You may reach us for getting a Company Secretary at reasonable price.

  • 10) Can you help me with preparation of Annual Financial Statements and Book Keeping Services?

    Yes, we are a global tax and legal firm and we shall be happy to assist on this as well.

  • 11) Is there capital gain tax in SG?

    There is NO capital gain tax in Singapore currently till date.

  • 12) Can my company have a subsidiary in Singapore?

    Yes, corporate shareholding is allowed in Singapore.

  • 13) I am from India, is there any other compliance that needs to be undertaken?

    Yes. As per RBI Norms any individual/corporate which invest in Shares or open a subsidiary in a foreign country needs to do ODI Compliance at the time of investment. Also, every year it needs to file APR to the RBI. We assist all our clients in this regards.

  • 14) What are the documents that are required to register entity in Singapore?

    For Individual:

    • Copy of Passport
    • Copy of latest utility bill/bank statement

    For Corporate:

    • Registration Certificate
    • Copy of latest utility bill/bank statement
    • Details and document of Authorized Representative
  • 15) I plan to offer ESOP in Singapore. Can you guys help us over here?

    Sure, we can help you over here. Any company offering ESOP in Singapore needs to have a proper ESOP Plan and do the necessary compliance. There are also various tax aspects that need to be considered. One can read our blog to know more on this.

  • 16) Do we need to visit Singapore in order to have the company registered and have it running there?

    All Singapore company incorporation and work permit formalities can be handled without you having to physically visit Singapore – unless you intend to open a bank account at a Singapore-based bank. We have strategic tie up and can connect you with DCB and Citi in case you wish to open from India.

  • 17) What are the taxes/costs if the individual remit money from Singapore to India to his personal account or a relative's account?

    Charges for remittance of money differ according to mode of transfer as may be utilized by that Individual and also vary from Bank to Bank.

  • 18) How much stay allowed to the shareholders/directors/employees of the company in Singapore?

    It depends upon the work visa. We can assist you in getting the required VISA in Singapore.

  • 19) I am raising funds for my Startup from Singapore/Global Investors. Can you help us over here?

    Sure. We are a global tax and legal firm and have assisted various startups in raising funds globally.
    We also help them in their compliances and tax planning during the fund-raise so that neither the
    company nor their shareholders face long term consequences. You can write to us over here to
    know more on this.

  • 20) Why should I choose Taxmantra to assist me in opening my company in Singapore?

    Our International Clients choose Taxmantra mainly for the following reason-

    • Has physical office in both Singapore and India. With us you won’t face any issue due to our local connect and comprehensive handholding.
    • Reasonable Fees structure
    • Team of Professional Experts with over 30+ Experience. Being proficient in legalities around cross border transaction we shall make sure that any International Trade is done after doing necessary compliance and entrepreneurs do not face any long term complexities.
    • A one-step destination for all your Visa, Legal and Taxation Requirements. We make sure that you do not have to go to different professionals for each of your requirement and shall help you with holistic solution.
    • Charter Member of the Exclusive Club of TIE – Global Entrepreneurship Organization
      One can know more about us by downloading our service brochure.