Singapore Payroll Services

At Bradford Jacobs, we navigate the administration of the Singaporean payroll system for you. We do the work, so you do not have to.

Singaporean Payroll

It is essential for companies planning to run Payroll Services in Singapore to have a clear plan and make the right moves from day one. This is vital for all international companies wishing to establish a presence in Singapore and plan to hire staff and operate payroll there. Singapore is a financial and commercial powerhouse at the heart of Asian economies and a prime target for International Expansion.

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Singapore’s pedigree is impressive. It is the only Asian nation with a Triple AAA credit rating, a hub for east and west shipping lanes (with the world’s second-largest port), while 50% of the world’s population is a six-hour flight away.

Foreign companies must establish a subsidiary in Singapore to officially and legally hire staff and operate their payroll, but it is essential to take on board expert guidance. Registering employees with the Central Provident Fund (CPF) and the Inland Revenue Authority of Singapore (IRAS) are the first of many steps in employing staff.

Complying with tax filing, payroll regulations, social insurance and employee rights in Singapore’s employment market adds to a testing workload. Failure to get it right risks fines and other sanctions. Bradford Jacobs’ specialists become your employees’ effective Employer of Record (EOR) for all these issues while they remain under your daily operational control.

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Available Singaporean Payroll Options

  • Remote payroll – This option allows businesses to operate under a single payroll system, by adding employees in Singapore to your parent company’s payroll. However, these employees must operate under different regulations, which is likely to cause problems.
  • Internal payroll – You may operate payroll for your subsidiary, especially if you are committed to growing your company’s presence in Singapore. However, this does require hiring dedicated HR staff who understand Singaporean employment and compliance laws.
  • Singapores’ payroll processing company – If you are considering outsourcing, then working with a Singaporean payroll company will help in processing your payroll – but not when it comes to compliance.
  • Singapores’ payroll outsourcing – However, there is another option available that solves both concerns – by working with Bradford Jacobs. We can handle payroll and compliance for all your employees in Singapore. We take the administrative stress off your shoulders so you can focus on what you do best.

Companies moving into Singapore’s financial and commercial hub as a base for further expansion open up many opportunities throughout southeast Asia and Pacific Rim nations. Challenges come alongside the potential benefits, however. You cannot afford to stumble into mistakes in Singapore’s employment, payroll and income tax landscape as it will cost you time and money. Payroll management is among those challenges, whether your company is considering moving employees abroad or hiring new staff in-country.

Foreign companies can pay their staff working in Singapore, but to hire and pay employees there, they must establish a legal entity. Non-resident companies typically choose to open a limited liability subsidiary, particularly as a small to medium-sized enterprise, to gain a foothold in the Singapore market. The subsidiary can have 100% foreign ownership but is a separate legal entity from the parent company under Singapore’s Companies Act.

Before running payroll in Singapore, taking this step requires detailed practical knowledge of company, tax and employment law and staying up to date with taxation rates. However, there is an alternative and more straightforward route. Bradford Jacobs’ will navigate around these potential pitfalls effectively and efficiently. We recruit the staff in-country and then implement our comprehensive knowledge of tax and payroll regulations. As part of our service, Bradford Jacobs files returns and remits associated payments for tax and social security contributions directly from our payroll system to the relevant authorities.

Outsourcing your payroll in Singapore will streamline your operations by dealing with the following for your staff:

  • Applying for the Central Provident Fund (CPF) Submission Number (CSN), enabling you as an employer to undertake transactions with the CPF Board.
  • Registering employees with the CPF.
  • The CSN includes the Unique Entity Number (UEN).
  • Applying for individual CSNs as necessary depending on the contributions being made to the CPF on behalf of employees – such as mandatory or voluntary contributions or MediSave payments.
  • Registering employees with the Inland Revenue Authority of Singapore (IRAS) by preparing forms IR8A, Appendix 8A, Appendix 8B and IR8S.
  • Filing individual income tax (paper form) electronically by April 15 of the following year or by April 18.
  • Applying for UEN and CSN together where necessary via the Accounting and Corporate Regulatory Authority (ACRA) via the BizFile+Portal.

For foreign corporations to run payroll for their staff in Singapore, they must establish a legal entity subsidiary, with the typical choice being a private limited liability company. This is considered an ideal subsidiary type for setting up a small and medium enterprise as a first step into the Singapore market. All Singapore companies operate under the Companies Act, which covers incorporation and regulations dealing with shares, directors and officers, accounts and other provisions.

Registration procedures include the following:

  • Verifying that the company name is unique and reserving it with Accounting and Corporate Regulatory Authority (ACRA) via BizFile.
  • Registering the company with ACRA to obtain a business identification number to be used on all official documents.
  • Establishing the business activities with the Singapore Standard Industrial Classification (SSIC).
  • Obtaining any required business licenses relevant to business activities.
  • Registering with the Inland Revenue Authority of Singapore (IRAS).
  • Registering with Singapore Customs if your business involves importing and exporting.
  • Registering for Goods and Services Tax (GST), mandatory if taxable revenue exceeds SGD one million (€680,300, US$742,343).
  • Lodging details of directors, shareholders and SSIC code for the particular business activities with BizFile.
  • Once the application and reservation are approved, registering with BizFile the business address, share capital and shareholders, directors and company secretary if applicable, company’s constitution and proof of paid fees.
  • Completing Forms 45 and 45B for each director and company secretary.
  • Applying for the Central Provident Fund (CPF) Submission Number (CSN), enabling you as an employer to undertake transactions with the CPF Board.
  • Once incorporated, opening a business bank account, complying with strict ‘Know Your Customer requirements.

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