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Epica FAQ Series

Are start-up companies qualified for Start-Up Tax Exemption (SUTE) even if all shareholders are foreigners?

Corporate Income tax

Are start-up companies qualified for Start-Up Tax Exemption (SUTE) even if all shareholders are foreigners?

Singapore introduced a new scheme for new start-up companies. This was to support entrepreneurs and help them grow,

This scheme allows newly incorporated companies S$75,0000 exemption on first S$100,000 of their chargeable income.

You are qualified for Start-Up Tax Exemption (SUTE), even if all shareholders are foreigners.

These are the conditions applied to it:

  • No more than 20 shareholders in the company for that Year of Assessment
  • All the shareholders are individuals beneficially and directly holding the shares to their name
  • Minimum one shareholder holding at least 10% of the issued shares

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S$1,100
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S$1,000
S$1,500

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S$3,000

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US$2,200
US$3,000

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