Singapore Business
Guide for Italians

Singapore consistently ranks as one of the world's easiest places to do business. With a strategic location, business-friendly regulations, and generous incentives for foreign companies, it's the perfect gateway to Asia for Italian entrepreneurs.

• Ranked #2 globally for ease of doing business
• 17% corporate tax rate (vs 24% in Italy)
• No capital gains tax
• Extensive network of 80+ trade agreements
• World-class infrastructure and talent pool

The most common choice for foreign companies is the Private Limited Company (Pte. Ltd.). This structure provides limited liability protection, a professional image, and eligibility for government grants.

• Private Limited Company (Pte. Ltd.) - Most popular for foreign businesses
• Branch Office - Extension of your Italian company
• Representative Office - For market research only, no commercial activities
• Sole Proprietorship - Simpler but offers no liability protection

Setting up a Singapore company is straightforward with the right support. Here are the key requirements:

• At least one shareholder (can be 100% foreign-owned)
• At least one local director (Singapore resident)
• A registered Singapore address
• Minimum paid-up capital of SGD 1 (no maximum)
• Company secretary (within 6 months of incorporation)

Singapore offers numerous grants and incentives for businesses, especially in strategic sectors like tech, fintech, and sustainability.

• Startup SG Tech - Up to SGD 500,000 for deep tech startups
• Enterprise Development Grant - Up to 50% project cost support
• Market Readiness Assistance - Up to 70% for overseas expansion
• Productivity Solutions Grant - Up to 50% for digital transformation
• MAS FinTech Regulatory Sandbox - For fintech innovation

Opening a business bank account in Singapore requires proper documentation and may require an in-person visit. Major banks serving international businesses include DBS, OCBC, UOB, and international banks like HSBC and Standard Chartered.

• Corporate account opening typically takes 2-4 weeks
• Multi-currency accounts available
• Online banking with international transfer capabilities
• Access to Singapore's robust financial ecosystem

Singapore's tax system is territorial and offers many advantages for international businesses.

• Corporate tax: 17% (with exemptions for new companies)
• No withholding tax on dividends
• Extensive double taxation agreements (including Italy)
• GST: 9% (with registration threshold of SGD 1M)
• Personal tax: Progressive 0-24%