Frequently Asked Questions

Singapore ranks first globally in the World Competitiveness Ranking and has been evaluated as the world's best place to do business. It boasts 27 Free Trade Agreements (FTAs) and enjoys a unique geographical position covering half of the world's population and economies within a 7-hour flight radius. Its sound and independent legal system, world-class pro-business environment, and internationally competitive tax policies make it the premier strategic headquarters choice for Chinese enterprises to venture into the ASEAN market and go global.

With the regional expansion of our group's business, B&H has extended its service footprint to Malaysia and Hong Kong. Furthermore, as an overseas expansion expert, B&H provides global citizenship and residency solutions, including the Turkey Citizenship by Investment program, helping high-net-worth clients and entrepreneurs achieve smooth cross-border asset allocation, commercial landing, and identity planning.

A Singapore company can be incorporated with a minimum paid-up capital of S$1. There is no statutory requirement to deposit this capital into a corporate bank account prior to incorporation, and you can freely increase the paid-up capital amount at any time after the company registration is complete.

While most commercial industries feature open-door policies, specific regulated business activities require official licensing or ministry approval, including: Financial Services & Asset Management (regulated by MAS); Educational Institutions & Training Centres (regulated by MOE); Media, Telecommunications & Publishing (regulated by IMDA); and Political Activities (subject to the Political Donations Act). B&H provides full corporate licensing and administrative application services to help foreign companies navigate these specific ministry approvals.

Once ACRA approves your proposed corporate name, it is automatically reserved for 120 days. Name reservation requests are submitted via ACRA's BizFile+ portal for a statutory fee of S$15. If incorporation is not finalized within this 120-day window, the reservation expires and the name is released back to the public domain.

No. You must provide a valid, physical Singapore registered office address at the exact point of submission to ACRA. P.O. Boxes are strictly rejected under Singapore law. If you do not possess a commercial physical footprint yet, you can utilize the registered address corporate service provided by B&H to fulfill this legal requirement.

Yes. Under Section 145 of the Singapore Companies Act, every company must appoint at least one director who is ordinarily resident in Singapore at all times. This individual must be a Singapore Citizen, Permanent Resident, EntrePass holder, or a qualifying Employment Pass holder. Foreign founders without a local resident partner must arrange a Nominee Director Service via an ACRA-registered Corporate Service Provider like B&H.

The RORC is a mandatory corporate document that logs details of any beneficial owner who exerts significant control over the company (holding more than 25% of shares, voting rights, or operational influence). Companies must set up and maintain their private RORC immediately upon incorporation. The internal RORC file is kept private and companies must lodge this data to ACRA's secure central database, updating any changes within 2 business days.

You can apply for an Employment Pass immediately after incorporation, as there is no mandatory corporate operational waiting period or revenue history required to file. All new EP applications are assessed under the Ministry of Manpower's (MOM) points-based COMPASS framework, which scores candidates transparently on salary benchmarks, academic qualifications, company nationality diversity, and local workforce support. Because newly incorporated companies face closer scrutiny regarding corporate substance, professional application management is highly recommended.

No. Employment Pass (EP) applications are not subject to a quota system, and employers do not incur monthly foreign worker levies. This sets the EP apart from S Pass and Work Permit tracks, which are strictly capped by dependency ratios and monthly levies. The Ministry of Manpower (MOM) reviews each EP petition strictly on the dual merits of the candidate and the sponsoring employer.

Yes. Eligible EP holders who meet the minimum monthly fixed salary threshold set by MOM can sponsor qualifying family members: Dependant's Pass (DP) — for legally married spouses and unmarried children under 21, requires a minimum fixed monthly salary of S$6,000. Long-Term Visit Pass (LTVP) — for common-law spouses, unmarried stepchildren under 21, or biological parents, with sponsoring parents generally requiring a higher minimum salary of S$12,000 per month.

Under the Singapore Companies Act, a company is legally dormant if it records zero accounting transactions during its financial period. Dormant status does not eliminate filing duties; companies must still submit Annual Returns to ACRA and file a simplified Dormant Corporate Income Tax Return (Form C-S) with IRAS. However, qualifying dormant companies can apply for an exemption from holding an Annual General Meeting (AGM).

Singapore companies must file their corporate tax return (Form C, Form C-S, or Form C-S Lite) by 30 November annually. Missing this deadline triggers an automatic late filing penalty starting at S$200, alongside potential enforcement actions or a punitive estimated Notice of Assessment (NOA) issued by IRAS. If you receive an estimated NOA, you must file an official objection with IRAS within 2 months, or the estimated tax figure becomes final and legally binding.

Under the Income Tax Act and Companies Act, all registered corporate entities must securely retain their core accounting books, ledgers, bank statements, contracts, and expense receipts for a minimum of 5 financial years. This data-retention mandate remains active for 5 years even if the company ceases trading, strikes off, or enters voluntary winding up. Failing to maintain proper records can result in fines ranging between S$1,000 and S$5,000, or potential imprisonment.

A private company qualifies as a "Small Company" and is exempt from statutory audits if it meets at least 2 out of 3 criteria for the preceding two consecutive financial years: Total Annual Revenue not exceeding S$10 million; Total Asset Value not exceeding S$10 million at financial year-end; Total Full-Time Employees not exceeding 50. For subsidiaries, both the entity and the parent group must qualify.

Singapore corporate tax filing has two key obligations. First, the Estimated Chargeable Income (ECI) must be filed within 3 months from your company's Financial Year End (FYE) — this deadline varies depending on when your FYE falls. Second, the Corporate Income Tax Return (Form C/C-S) must be filed by 30 November each year, regardless of your FYE. For GST-registered companies, GST returns are filed quarterly, due within one month after each accounting period ends.

GST (Goods and Services Tax) is Singapore's equivalent of VAT, currently set at a standard rate of 9%. Your company must register for GST if its annual taxable turnover exceeds S$1 million. Businesses below this threshold may register voluntarily to reclaim input GST on business expenses.

Outbound Direct Investment (ODI) filing is a mandatory, multi-tiered regulatory approval track enforced by mainland Chinese authorities. Chinese enterprises establishing a corporate vehicle, buying equity, or moving capital into Singapore must secure formal cross-border approvals from the NDRC, MOFCOM, and SAFE before any funds can be legally remitted out of China. Failure to complete ODI procedures before remitting funds may constitute a violation of Chinese foreign exchange regulations and could result in penalties imposed by SAFE.

Singapore provides elite fund tax exemptions managed by MAS. The two cornerstone options grant a 0% tax rate on specified income from designated investments: Section 13O Scheme — applies to Singapore-incorporated onshore fund vehicles with a minimum AUM of S$20 million, requiring at least 2 investment professionals (at least one being a non-family member). Section 13U Scheme — applies to fund vehicles with a minimum AUM of S$50 million, allows flexible fund residency, and requires at least 3 investment professionals. Both programs typically take 4 to 6 months to process.

Acquiring a Turkish passport offers: Global Travel Mobility — visa-free or visa-on-arrival entry to 112 countries including Japan, South Korea, Singapore, and Hong Kong (ranked 49–52 in the 2026 Henley Passport Index); U.S. E-2 Investor Visa Pathway — Turkish citizens can apply for the U.S. E-2 Investor Visa, a rapid cost-effective alternative to the EB-5 track, with no country-specific backlogs; Zero Physical Residency Requirements — no mandatory minimum stay, entire application can be completed via an authorised representative; Elite Tax Optimisation — under Law No. 7582, qualifying individuals may benefit from a 20-year exemption from Turkish income tax on qualifying foreign-sourced income; Dual Nationality Framework — Turkey fully permits dual nationality at the Turkish side.

Under the official regulatory guidelines governed by the Turkish Ministry of Interior, international investors can secure citizenship by opting for one of two primary routes: Real Estate Acquisition Track — purchase residential, commercial, or land assets in Turkey with a combined minimum value of USD 400,000. The qualifying assets must be held for a mandatory 3-year lock-in period. Capital Bank Deposit Track — deposit a minimum of USD 500,000 into a regulated financial institution in Turkey, maintained for a minimum of 3 years. Both tracks allow the primary investor to include a spouse and dependent children under 18 with no additional investment requirements. The complete processing timeline typically ranges between 3 to 6 months.

B&H Consultancy manages the end-to-end legal processing, document translation, notarisation, and official apostille verification. The application is structured across two phases: 1. Short-Term Residence Permit Stage — requires certified passport translations, legalised birth certificates, biometric photographs, valid Turkish health insurance, proof of physical address, Certificate of Conformity confirming the minimum investment threshold has been met, and a clean criminal record certificate. 2. Final Citizenship Application Stage — requires the official Turkish Citizenship Application Form (VAT-4), legalised marital records, dependant documentation, biometric photographs (50mm x 60mm), updated security clearances, and administrative levy receipts.