2nd Dec

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Setup Singapore Company from Vietnam

Singapore has long been the preferred regional hub for entrepreneurs and companies across Asia. In recent years, a growing number of Vietnamese business owners—ranging from small startups to established enterprises—have chosen to expand into Singapore. The city-state’s transparent business environment, international reputation, and strong financial ecosystem make it a powerful platform for Vietnam-based entrepreneurs who want to increase credibility, reach global markets, and build long-term growth.

This article provides a comprehensive guide on how to setup a Singapore company from Vietnam, covering the benefits, requirements, step-by-step incorporation process, bank account setup, employment pass pathway, and ongoing compliance obligations.

1. Why Vietnamese Entrepreneurs Choose Singapore

1.1 A Highly Respected Global Business Hub

Singapore is consistently ranked as one of the world’s easiest and safest places to do business. For Vietnamese entrepreneurs, establishing a company in Singapore immediately enhances international credibility. Investors, suppliers, and global partners trust Singapore’s regulatory environment, making negotiations and cross-border deals much smoother.

1.2 Attractive and Simple Tax System

Singapore’s tax regime is one of the most business-friendly worldwide:

Corporate tax capped at 17%
Partial tax exemptions for new companies
No tax on capital gains
No tax on foreign-sourced dividends (subject to conditions)
No withholding tax on many types of payments

Compared to Vietnam’s more complex and sometimes unpredictable tax landscape, Singapore offers stability, clarity, and financial efficiency.

1.3 Fast, Transparent, and Digital Corporate Setup

Incorporation in Singapore can be completed within 24–48 hours, fully online, without needing to travel. This is particularly advantageous for Vietnamese entrepreneurs who want to expand quickly and operate internationally without bureaucratic delays.

1.4 Strong Legal, Banking, and Governance Systems

Singapore’s legal system is transparent and pro-business. Contract enforcement, intellectual property protection, and corporate governance are strong and internationally respected. This provides Vietnam entrepreneurs with predictability, reducing risk and improving investor confidence.

1.5 Gateway to ASEAN and Global Markets

Vietnamese companies that want to go regional often use Singapore as a headquarters to:

Attract foreign investors
Manage cross-border trade
Access global payment networks
Partner with international companies

Singapore’s global connectivity makes it an ideal launchpad for Vietnamese SMEs pursuing global expansion.

2. Can Vietnamese Own 100% of a Singapore Company?

Yes.
Vietnamese individuals and companies can own 100% of a Singapore private limited company. There are no restrictions on foreign shareholding.

However, every Singapore company must have:

At least 1 local director (Singapore citizen, PR, or Employment Pass holder)
A Singapore registered office address
A company secretary

These requirements can be fulfilled using services provided by corporate service firms.

3. Popular Company Structures for Vietnamese Entrepreneurs

3.1 Private Limited Company (Pte Ltd) — Most Common

This structure is preferred due to:

Limited liability
Global credibility
Tax benefits
Access to Singapore banking
Ease of raising investment
Flexibility for expansion

3.2 Subsidiary Company

Used when a Vietnam-registered company wants to open a Singapore branch.
The Singapore subsidiary is treated as a local entity, fully eligible for tax benefits.

3.3 Representative Office

Suitable for market research but cannot conduct revenue-generating activities.
Usually used before deciding whether a full company structure is needed.

4. Documents Required to Setup a Singapore Company from Vietnam

For Vietnamese Individual Shareholders:

Passport copy
Proof of residential address (utility bill or bank statement)
Sometimes CCCD (Vietnam ID) for additional verification

For Vietnam Company Shareholders:

Vietnam business registration certificate
Company profile and ownership structure
Board resolution approving the Singapore company registration

Information Required for Incorporation:

Desired company name
Business activities (SSIC code)
Shareholding percentage
Paid-up capital (minimum SGD 1)
Details of local director
Registered office address

Corporate service providers will verify all documents through KYC and AML checks.

5. Step-by-Step Process to Setup Singapore Company from Vietnam

Step 1: Choose a Company Name

The proposed name must not infringe trademarks or be similar to existing businesses. Approval usually takes minutes unless the name is regulated (e.g., “bank,” “finance,” “school”).

Step 2: Finalize Your Company Structure

Most Vietnamese entrepreneurs choose:

Private Limited Company, or
Subsidiary Company

These structures allow 100% foreign ownership.

Step 3: Appoint a Singapore Local Director

Required by law.
If you do not have a Singapore partner, your service provider will offer a nominee director service. The nominee does not participate in the operations—they only fulfill compliance requirements.

Step 4: Prepare Incorporation Documents

Your corporate service provider will draft:

Constitution of the company
Appointment of directors
Share subscription agreements
Registered address declaration

You can review and sign everything digitally from Vietnam.

Step 5: File Incorporation with ACRA

Your service provider submits the application to ACRA (Accounting and Corporate Regulatory Authority).
If everything is in order, your company is usually incorporated within the same day.

Step 6: Open a Corporate Bank Account

Banking is where some Vietnamese entrepreneurs face challenges due to bank verification policies. Singapore banks commonly used include:

DBS
OCBC
UOB
Standard Chartered
HSBC

Banks may require:

A video interview
Business plans
KYC documents

Some fintech options allow smoother onboarding:

Airwallex
Wise Business
Aspire

These are popular for startups and digital businesses.

Step 7: Apply for Business Licenses (If Needed)

Industries requiring additional licensing include:

Education
Finance
Employment agency
Health services
F&B

Most consulting, trading, and tech companies require no license.

6. Can Vietnamese Operate a Singapore Company Remotely?

Yes.
You do not need to live in Singapore to operate your company.

You can run the business from Vietnam as long as:

You maintain a local director
Your company secretary is based in Singapore
Your registered office remains active
You follow annual compliance requirements

This setup is ideal for Vietnamese entrepreneurs who want international presence without relocation.

7. Moving to Singapore Through Your Company (Employment Pass Option)

Many Vietnamese business owners eventually want to:

Move to Singapore
Bring family members
Manage operations directly
Access Singapore’s education and healthcare systems

To live and work in Singapore, you’ll need an Employment Pass (EP).

How Vietnamese EP Applicants Improve Approval Chances

Show a realistic and well-prepared business plan
Demonstrate relevant business experience
Salary that meets professional standards
Clear company activities and revenue model
Plans to hire locally
Strong financial projections

Once your EP is approved:

You can become the local director
The nominee director can step down
Your spouse and children may apply for Dependant’s Pass or Long-Term Visit Pass

This creates a smooth relocation pathway.

8. Post-Incorporation Responsibilities for Vietnamese Business Owners

Once your Singapore company is incorporated, you must comply with ongoing regulations.

8.1 Annual ACRA Filing

Every company must file:

Annual return
Financial statements

These filings must be done on time to avoid penalties.

8.2 Corporate Tax Filing

All companies must submit:

Estimated Chargeable Income (ECI)
Corporate tax returns (Form C or Form C-S)

Tax exemptions for new companies can significantly reduce the initial tax burden.

8.3 Accounting and Bookkeeping

Businesses must maintain accurate records, including:

Invoices
Receipts
Payroll
Contracts
Bank statements

Most Vietnamese owners use outsourced Singapore accountants.

8.4 Maintaining Registered Office

A local registered address is mandatory for receiving official mail.

8.5 Director and Secretary Obligations

Your company secretary ensures statutory compliance. The local director (or EP director) ensures the company is operating legally.

9. Why Vietnamese Entrepreneurs Register Singapore Companies

9.1 International Trade and Export

Vietnamese exporters use Singapore companies to:

Increase trust with foreign buyers
Access multi-currency banking
Reduce friction in cross-border trade
Improve shipping and logistics efficiency

9.2 Attract International Investors

Investors feel more confident investing in a Singapore Pte Ltd due to strong legal protections. Founders in Vietnam’s tech and startup ecosystem often incorporate in Singapore to raise funds globally.

9.3 Holding Company for Regional Expansion

Singapore companies are often used as holding entities for:

Regional subsidiaries
Joint ventures
Investments
Intellectual property

This provides tax efficiency and strong asset protection.

9.4 E-Commerce and Digital Businesses

Vietnam’s digital economy is booming, and many entrepreneurs choose Singapore to:

Access global payment gateways
Receive international funds easily
Work with multinational tech partners

9.5 Relocation and Family Planning

For entrepreneurs who want their children to study in Singapore or who plan long-term relocation, setting up a company is the first practical step.

10. Common Difficulties for Vietnamese Entrepreneurs (and Solutions)

Challenge 1: Corporate Bank Account Approval

Some banks require in-person meetings.
Solution: Use fintech banks or choose banks offering video verification.

Challenge 2: Securing a Local Director

Vietnamese entrepreneurs without Singapore contacts may struggle.
Solution: Use a nominee director service through a corporate service firm.

Challenge 3: Understanding Compliance

Singapore’s rules are strict but predictable.
Solution: Rely on an experienced company secretary and accountant.

Challenge 4: Employment Pass Approval

EP approval requires strong documentation.
Solution: Prepare a well-structured business plan and demonstrate genuine economic contribution.

Conclusion

Setting up a Singapore company from Vietnam has become one of the most strategic business decisions Vietnamese entrepreneurs can make. Whether you are a startup founder, investor, e-commerce seller, importer/exporter, professional consultant, or mid-sized business owner, Singapore offers a trusted, efficient, and globally connected environment to scale your business.

With 100% foreign ownership allowed, simple digital incorporation, and strong links between Vietnam and Singapore, the process is seamless when handled through an experienced corporate services provider. Many Vietnamese entrepreneurs operate their Singapore businesses fully remotely, while others use the company as a pathway to eventually relocate with an Employment Pass.

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