Starting a Business
HLSPartnership LLP has been assisting entrepreneurs and established international companies with setting up businesses in Singapore for nearly 50 years. We work with clients across a wide range of industries, supporting both first-time entrants and established groups expanding their operations into Singapore.
There are two principal corporate structures relevant to most businesses establishing a presence in Singapore: the private limited company and the foreign branch. The majority of businesses choose to operate through a private limited company.
A Singapore-incorporated private limited company is regarded as a tax resident under Singapore law and is therefore eligible for tax incentives, exemptions, and benefits available to resident companies.
In contrast, a Singapore branch is treated as a non-resident entity for tax purposes. Non-resident companies are not eligible for resident tax incentives or tax treaty benefits. In addition, a branch structure exposes the head office to legal liabilities arising from business activities in Singapore.
In certain circumstances, however, establishing a branch may be appropriate. This may include situations where a business wishes to rely on the track record or paid-up capital of its head office, for example when bidding for large public infrastructure tenders or meeting capitalisation requirements for regulated financial activities.
A Singapore private limited company or branch can typically be incorporated within one week, subject to regulatory approvals.
Choosing the appropriate
corporate structure
End-to-end support for new businesses
We provide comprehensive support beyond incorporation, assisting clients with the practical and regulatory matters required to commence operations in Singapore. This includes:
- Opening a corporate bank account
- Registration of CorpPass
- Employment pass applications for foreign expatriates
- Advice on the Employment Act when hiring local staff
- Registration with the Central Provident Fund (CPF) Board
- Administration of the first payroll payment
Audit & Assurance
Statutory and non-statutory audits aligned to Singapore & international standards.
Corporate Secretarial
Ongoing statutory compliance & corporate governance support in Singapore
Taxation
Singapore tax compliance & advisory for foreign-owned companies.
Accounting Outsourcing
Reliable accounting & financial reporting aligned with group requirements.
Digitalisation
Practical cloud-based solutions to improve efficiency & financial visibility.
Internal Audit
Independent review of controls, risk management, & compliance frameworks.
Human Resource
Employment advisory support, including regulatory & work pass matters.
Corporate Health Services Insolvency
Financial health reviews, restructuring support, & insolvency advisory.
For every new incorporation, clients have direct access to our partners, each with over 20 years of experience advising multinational corporations and high-growth small and medium-sized businesses. We take the time to understand each client’s objectives and provide advice tailored to their specific circumstances.
By ensuring the business is established on a sound footing from the outset, we help clients reduce uncertainty and focus their time and resources on building and growing their operations in Singapore.
Establishing businesses
on a sound and compliant
foundation.
Enquire with us
If you are considering establishing a business presence in Singapore, we welcome the opportunity to discuss your requirements.
Enquire with us
If you are considering establishing a business presence in Singapore, we welcome the opportunity to discuss your requirements.