Question 1

Why do I need a resident director for a Singapore company?

Accepted Answer

Singapore law requires at least one director who is ordinarily resident in Singapore (citizen, PR, or EP holder). Nomadic Go arranges a licensed nominee director as part of our Singapore Pte Ltd formation service.

Question 2

What is the Singapore corporate tax rate for startups?

Accepted Answer

The headline rate is 17%, but qualifying new companies receive a 75% exemption on the first S$100,000 of chargeable income and 50% on the next S$100,000 for the first three years of assessment.

Question 3

Can I open a Singapore business bank account as a foreigner?

Accepted Answer

Yes. Singapore has excellent business banking. Nomadic Go provides business banking assistance for Singapore companies, helping with documentation and bank selection.

Question 4

Is Singapore good for APAC expansion?

Accepted Answer

Singapore is widely considered the premier jurisdiction for APAC market entry. Its common law framework, strong IP protection, and investor-ready company structure make it the preferred jurisdiction for regional and global VC-backed companies.

Question 5

Are there nationality restrictions for Singapore company formation?

Accepted Answer

Singapore imposes no nationality-based restrictions on company shareholders. Any foreign national can own 100% of a Singapore Pte Ltd, subject to standard AML/KYC requirements. Nationals of OFAC-sanctioned countries (Iran, North Korea, Cuba, Syria) will face banking difficulties even if formation is technically possible. Singapore banks apply thorough due-diligence standards and may decline account applications from nationals of FATF-greylisted or higher-risk countries — our banking assistance service assesses this before submission.

Services in Singapore

Banking Support

Company Formation

Solution Bundles

Nomadic Go+ membership