Last updated: 10 November 2026
Key Takeaways
- An “offshore company” in Singapore is a regular Singapore company that holds assets or does business outside Singapore, usually for non-resident owners. Singapore is not an offshore tax haven.
- ACRA’s fees to register a private limited company are S$315 (S$15 name plus S$300 registration).
- The headline corporate tax rate is 17%. New companies can claim the Start-Up Tax Exemption for their first three years, and all companies can claim the Partial Tax Exemption.
- You need at least one resident director, a company secretary within six months and a registered office address. Foreigners without a Singpass need a corporate service provider to register.
- Directors and shareholders appear on the company’s Business Profile, and beneficial owners are recorded in the controller register held by ACRA.
A Singapore company costs S$315 in ACRA fees to register, is taxed at a headline rate of 17%, and can be owned 100% by foreigners in most sectors. Singapore has made a strong position for itself in the global race for business. It is a regional hub for global companies and one of the world’s most important ports, which is why many foreign owners choose to set up a company in Singapore to hold assets or run business abroad.
This article, based on HeySara’s experience incorporating companies for foreign owners, explains what an offshore company in Singapore really is, who it suits, how tax works, and how to register one.
What Is an Offshore Company in Singapore?
An offshore company is generally a company incorporated in a jurisdiction away from where its owners, offices or operations are. In Singapore’s case, there is no separate “offshore” company type. A company incorporated in Singapore is a Singapore company, regulated by the Accounting and Corporate Regulatory Authority (ACRA) and taxed under Singapore law like any other.
What people usually mean by an “offshore company in Singapore” is a Singapore company that is owned by non-residents and holds assets, or does business, outside Singapore. Singapore is not an offshore tax haven. It is a regulated, transparent jurisdiction, and its appeal is stability, a strong legal system and an extensive tax treaty network, not secrecy or zero tax.
There is no restriction on the kind of business an offshore company can do, although some activities, such as running a restaurant, need licences from the relevant authorities through the GoBusiness portal. Common uses include:
- Asset holding
- Investment holding
- Intellectual property (IP) holding
- Trading
- Professional services and consultancy
You can incorporate a company without visiting Singapore if you work with a corporate service provider (CSP), such as a digital corporate service provider.
Who Is It For?
A Singapore company can suit owners who want:
- A regional base for Southeast Asia, or a holding company for investments in the region
- To hold intellectual property and use it across several jurisdictions
- A stable, well-regulated jurisdiction that banks, investors and counterparties trust
- Access to Singapore’s double tax agreements, which can depend on the company being a Singapore tax resident
It is not a shortcut to avoid tax. Tax outcomes depend on where the company is managed, where its income comes from and the tax rules of the owners’ home countries, and some jurisdictions with worldwide taxation may treat the structure differently. Take legal and tax advice before you set one up. For holding structures in particular, see benefits of starting a holding company in Singapore.
Entity Options for Foreign Owners
| Feature | Private limited company (subsidiary) | Branch office | Representative office |
| Separate legal entity | Yes | No, an extension of the foreign company | No, an extension of the foreign company |
| Can carry on commercial activity | Yes | Yes | No, limited to liaison and market research |
| Liability | Limited to the company | The foreign parent is liable | The foreign parent is liable |
Most owners use a private limited company. Corporates can also register a subsidiary, branch or representative office. See our representative office guide for that option.
Benefits of a Singapore Company
A Clear, Competitive Tax Regime
Singapore’s headline corporate tax rate is a flat 17%. Singapore taxes income that accrues in or is derived from Singapore, and foreign-sourced income that is received in Singapore, unless an exemption applies. Two IRAS schemes reduce the tax a company actually pays:
- Start-Up Tax Exemption (SUTE): for a company’s first three consecutive Years of Assessment, 75% of the first S$100,000 of chargeable income and 50% of the next S$100,000 are exempt. To qualify, the company must be a Singapore tax resident with no more than 20 shareholders, and either all shareholders are individuals or at least one individual holds at least 10% of the shares. Companies whose principal activity is investment holding or property development do not qualify.
- Partial Tax Exemption (PTE): for companies that don’t claim SUTE, 75% of the first S$10,000 and 50% of the next S$190,000 of chargeable income are exempt.
Singapore also has a one-tier system, which means dividends paid to shareholders from taxed profits are not taxed again in their hands. A company that is a Singapore tax resident, meaning its control and management are exercised in Singapore, may also benefit from tax treaty relief and certain exemptions on foreign income. See our guide to certificates of residence.
A Business-Friendly Regulatory Environment
Singapore has transparent, efficient regulators and is politically stable. Incorporation is online and simple, and the government allows 100% foreign ownership in most sectors, which is why many foreign owners use it as a regional hub.
A Strong Financial Centre
Singapore is a leading international financial centre with a large number of banks and financial institutions, and the government continues to invest in its financial and fintech sectors. A Singapore company can access a wide range of banking and financial services to support its business.
Transparency and Privacy
Singapore is not a secrecy jurisdiction. A company’s directors and shareholders appear on its Business Profile. Companies must also keep a private Register of Registrable Controllers and, since 16 June 2025, file it with ACRA’s Central Register, together with the registers of nominee directors and shareholders if nominees are used. These central registers are accessible to law enforcement agencies, not the public. See our guides to the RORC, ROND and RONS.
Registration Process
Registering a company in Singapore involves two ACRA steps:
- Apply for and reserve your company name with ACRA
- Register the company with ACRA
Most foreign owners use a corporate service provider to handle both steps and the compliance that follows. See our company registration process guide for the full walkthrough.
Pre-registration
To incorporate a Singapore private limited company, you need:
- One or more shareholders
- At least one director who is ordinarily resident in Singapore. Foreign owners often use a nominee director for this
- A company secretary within six months of incorporation
- Initial paid-up share capital of at least S$1
- A registered office address in Singapore. A P.O. box is not accepted.
Foreign individuals should prepare:
- A summary of the company’s business activities
- The company constitution
- A passport copy
- Know-your-client (KYC) documents, such as proof of residential address abroad, a bank reference letter, a business and personal profile, and details of the company secretary, shareholders and directors
Singaporean individuals provide a copy of their identity card. You can also register using a sole proprietorship or a limited liability partnership (LLP). Corporates provide their constitution and certificate of incorporation.
Directors must be at least 18 and must not be an undischarged bankrupt or disqualified. ACRA’s name rules require that the name is not identical to an existing company or on the prohibited list, and does not infringe trademarks. Shortlist five to six names first. Once approved, a name is held for 120 days. You must register the company within that time.
Registration
Registration is done online through ACRA’s Bizfile. You need a Singpass to log in, so foreigners without one must use a CSP. ACRA charges S$15 for the name application and S$300 for registration, S$315 in total, plus the provider’s fee. Registration can be quick once your details and documents are ready, but name review and approvals from other agencies can add time.
When registration is approved, ACRA sends a notice of successful incorporation with your UEN and a free Business Profile. The certificate of incorporation is a separate document that an authorised officer buys through Bizfile if a bank or counterparty requires it.
Post-registration
After registration, a provider can help with a corporate bank account, permits, GST registration, and any licences your business needs. Your company must then:
- Appoint an auditor within three months of incorporation, unless it qualifies as a small company or is otherwise exempt
- Keep proper accounting records and file annual returns with ACRA
- File its estimated chargeable income and corporate tax return with IRAS
- Maintain its statutory registers and meet the Central Register filing requirements
New companies are registered with IRAS for corporate income tax automatically. GST registration is separate and is compulsory once taxable turnover exceeds S$1 million.
For a corporate bank account, some banks require directors or signatories to be present in person, while others offer remote options. Some neobank business accounts allow online account opening, so compare current fees and requirements before you choose.
Frequently Asked Questions
Is Singapore an offshore tax haven?
No. Singapore taxes companies at a headline rate of 17%, with exemptions that reduce the effective rate, and is a regulated, transparent jurisdiction. Its appeal is stability, legal certainty and tax treaties.
Can a foreigner own 100% of a Singapore company?
Yes, in most sectors. The company still needs at least one director who is ordinarily resident in Singapore.
Do I need to visit Singapore to incorporate?
Not necessarily. A corporate service provider can handle registration remotely. Opening a bank account may require more, depending on the bank.
How much does it cost to register?
ACRA’s fees are S$315 (S$15 name plus S$300 registration), plus the provider’s fee.
Will my company pay tax in Singapore?
A Singapore company is subject to Singapore tax on income that arises in or is derived from Singapore, and on foreign-sourced income received in Singapore unless an exemption applies. Exemptions such as the Start-Up Tax Exemption and Partial Tax Exemption can reduce the tax payable. Take tax advice on your specific structure.
Is information about owners public?
Directors and shareholders appear on the company’s Business Profile. Controller and nominee details are filed with ACRA’s Central Register, which is available to law enforcement agencies.
Ready to set up? HeySara’s company incorporation service can register your company and handle ongoing compliance through our corporate secretarial service.
Disclaimer: This article is for general informational purposes only and does not constitute legal or tax advice. Tax rates, exemptions and registration requirements are set by IRAS, ACRA and other authorities and are subject to change. Verify current requirements with the relevant authority or take professional advice before making decisions. HeySara accepts no liability for actions taken based on this article.
