Introduction: Why French Entrepreneurs Are Expanding into Singapore
In the modern global economy, international expansion is no longer limited to large multinationals — entrepreneurs, SMEs, and startups from France are increasingly exploring opportunities beyond Europe. Among all global destinations, Singapore stands out as one of the most attractive markets for French businesses seeking to expand into Asia.
Often called the “Switzerland of Asia,” Singapore offers the same hallmarks that appeal to French investors — political stability, strong legal protection, excellent infrastructure, a low tax regime, and a welcoming business environment. For French entrepreneurs looking to access the fast-growing ASEAN market, starting a company in Singapore provides an efficient and profitable gateway.
This guide explains why Singapore is ideal for French businesses, the benefits of incorporation, and a detailed step-by-step process to register a company in Singapore from France.
Why French Businesses Are Choosing Singapore
1. A Gateway to Southeast Asia and Beyond
Located strategically between East and West, Singapore provides French companies direct access to the ASEAN region, home to over 650 million consumers. It also serves as a regional hub for companies targeting China, India, and Australia.
French exporters and service providers benefit from Singapore’s world-class ports, logistics, and aviation networks, enabling seamless regional operations.
2. Low Taxes and Double Taxation Agreement (DTA)
Singapore’s corporate tax rate of 17% is one of the lowest in the developed world. It also offers tax exemptions for new startups and no taxes on capital gains or dividends.
France and Singapore have a Double Taxation Agreement, which prevents income from being taxed in both countries. This makes Singapore particularly attractive for French companies that want to optimize their tax structure legally.
3. Political Stability and Transparency
Like France, Singapore has a long-standing tradition of rule of law and transparent governance. It consistently ranks among the world’s top countries for ease of doing business and low corruption. French entrepreneurs find this reliability reassuring for long-term planning.
4. English as the Business Language
Unlike other Asian markets where language barriers can pose challenges, English is the main working language in Singapore. This simplifies contracts, communication, and documentation for French business owners expanding internationally.
5. Strong Bilateral Relations
France and Singapore enjoy warm diplomatic and economic relations. The France-Singapore Business Council, French Chamber of Commerce (FCCS), and various trade missions actively promote collaboration between the two nations.
Benefits of Incorporating a Singapore Company from France
1. 100% Foreign Ownership
Singapore allows full foreign ownership of companies. French entrepreneurs can own 100% of their business without needing a local partner — something not always possible in other Asian markets.
2. Quick and Simple Incorporation
Company registration in Singapore is handled by the Accounting and Corporate Regulatory Authority (ACRA) and can be completed entirely online, often within one business day.
3. Access to a Stable Banking and Financial Ecosystem
Singapore is Asia’s financial hub, home to major international banks such as BNP Paribas, Crédit Agricole, HSBC, and DBS. French companies can open multi-currency corporate bank accounts for smooth regional transactions.
4. Reputation and Global Credibility
A Singapore-registered company projects an image of professionalism and international standards. French firms benefit from the strong reputation associated with Singaporean entities when dealing with global partners.
5. Incentives and Grants for Foreign Businesses
The Singapore government provides grants and tax incentives through agencies like Enterprise Singapore and Economic Development Board (EDB). French startups can leverage programs like the Startup SG Founder Grant, Enterprise Development Grant (EDG), and Market Readiness Assistance (MRA) Grant to support business expansion.
Step-by-Step Process for French Entrepreneurs to Incorporate in Singapore
Step 1: Choose Your Business Structure
The most common and suitable option for French investors is the Private Limited Company (Pte. Ltd.), which provides limited liability protection, tax efficiency, and credibility.
Step 2: Understand Legal Requirements
To set up a Private Limited Company in Singapore, you need:
- At least one shareholder (individual or corporate)
- At least one local resident director (a Singapore Citizen, PR, or Employment Pass holder)
- A company secretary (must be a Singapore resident)
- A local registered address (cannot be a P.O. Box)
- Minimum paid-up capital of S$1
If no local director is available, you can appoint a nominee director through a licensed corporate services provider.
Step 3: Reserve Your Company Name
Submit your preferred name to ACRA via BizFile+. The name must be unique and not infringe on trademarks. Once approved, it’s reserved for 120 days.
Step 4: Prepare Incorporation Documents
French applicants will need to provide:
- Copies of passports and residential addresses of all shareholders and directors
- Details of business activity and company structure
- The company’s Constitution (Articles of Association)
If the shareholder is a French company, certified incorporation documents and board resolutions must also be provided.
Step 5: File for Incorporation
Once all documentation is in order, your corporate service provider will submit them to ACRA. Approval typically takes one working day, provided there are no additional document requests.
Step 6: Open a Corporate Bank Account
After registration, open a corporate bank account with a Singapore bank. You can choose between local banks (DBS, OCBC, UOB) or international banks (BNP Paribas, HSBC, Standard Chartered). Some banks allow remote onboarding for French directors.
Step 7: Apply for Work Visas (If Relocating)
If you plan to manage your company from Singapore, you can apply for an Employment Pass (EP) or EntrePass. These passes allow foreign business owners to reside and work legally in Singapore.
Post-Incorporation Compliance
Once your company is registered, maintaining compliance is essential. Key obligations include:
- Appointing a company secretary within 6 months
- Filing annual returns with ACRA
- Conducting an Annual General Meeting (AGM)
- Preparing financial statements (audited or unaudited, depending on company size)
- Registering for Goods and Services Tax (GST) if annual turnover exceeds S$1 million
Most foreign entrepreneurs engage a professional corporate services firm to handle accounting, tax, and secretarial compliance.
Tax Advantages for French Entrepreneurs
Singapore’s tax regime is one of the most competitive in the world. Key highlights include:
- 17% corporate income tax rate
- 75% tax exemption on the first S$100,000 of income for the first 3 years
- No tax on dividends or capital gains
- No withholding tax on foreign shareholders
- DTA between France and Singapore ensures income isn’t taxed twice
For French companies, this structure is far more favorable compared to France’s higher corporate tax rates (currently around 25%).
Popular Business Sectors for French Companies in Singapore
- Luxury Retail & Fashion – French brands like Chanel, Louis Vuitton, and Hermès thrive in Singapore’s high-end retail landscape.
- Food & Beverage (F&B) – French cuisine and wine culture are well-loved in Singapore, making it an ideal location for French restaurants, cafés, and wine distributors.
- Technology & Innovation – Singapore’s “Smart Nation” initiative attracts French tech startups, especially in AI, cybersecurity, and fintech.
- Aerospace & Engineering – France’s industrial expertise pairs perfectly with Singapore’s global aviation hub status.
- Consultancy & Education – Many French consulting and training firms establish regional offices in Singapore to serve Asia-Pacific clients.
Singapore–France Bilateral Relationship
France and Singapore have a strong, long-standing partnership. The France-Singapore Innovation Year, launched in 2018, marked a new era of collaboration in technology, science, and digital innovation.
Institutions like the French Chamber of Commerce Singapore (FCCS) provide a support network for over 800 French businesses operating locally, including SMEs, startups, and large corporations. This ecosystem helps new entrants from France quickly adapt to Singapore’s business environment.
Challenges French Entrepreneurs Might Face
While Singapore’s business ecosystem is efficient, foreign entrepreneurs should be prepared for:
- Strict compliance deadlines for filing taxes and returns
- High initial costs of living for relocating staff
- Cultural adaptation when managing a diverse workforce
Fortunately, these challenges can be easily mitigated by working with experienced local corporate service providers and HR consultancies.
Practical Tips for French Entrepreneurs
- Engage a Professional Incorporation Service – To ensure all ACRA and legal requirements are met.
- Appoint a Nominee Director Early – To meet local residency requirements quickly.
- Leverage Government Grants – Especially the EDG and MRA Grant for international expansion.
- Plan Your Banking Needs – Choose banks that support both EUR and SGD for smooth transactions.
- Join the French Business Community – Connect with other entrepreneurs via the French Chamber of Commerce Singapore to build partnerships and share insights.
Why Singapore Is the Ideal Destination for French Entrepreneurs
Singapore combines the efficiency of a global financial hub with the vibrancy of Asia’s emerging markets. For French entrepreneurs and corporations alike, it provides a stable, low-tax, and opportunity-rich environment that enables business success on a regional scale.
From fashion and food to technology and engineering, French innovation finds fertile ground in Singapore’s cosmopolitan ecosystem. Whether you’re launching a new venture or setting up a regional office, starting a Singapore company from France is one of the smartest strategic moves you can make for long-term growth in Asia.
If you are a French entrepreneur ready to establish your business presence in Singapore, consult a professional corporate services provider today for assistance with incorporation, accounting, and visa arrangements — and take your first step toward expanding into Asia’s most dynamic hub.