Premia TNC Singapore Team
Author
The Case for Incorporating in Singapore
When selling products or providing services to international customers, the question of “how to settle and manage revenue” goes beyond simple accounting and becomes a key factor in determining business stability and growth. For global sellers, SaaS startups, and digital nomads who accept payments through Stripe, it is crucial to “reduce fees, mitigate tax risks, and simplify settlement structures.” Therefore, many companies are choosing the approach of combining a Singapore corporation with Stripe integration.
This combination is not simply the establishment of an overseas corporation but rather a business infrastructure that can most efficiently design revenue streams
Why Stripe Stands Out
In digital business, payment is not simply a means of receiving money, but it is the beginning of the customer experience and a core infrastructure that determines the stability of sales.
Stripe is the choice of SaaS, creators, and global sellers worldwide for its developer-friendly API, subscription billing automation, and ability to accept local and global payments.
Using Stripe with a Singapore corporation enables smoother cross-border payments, faster settlements, stronger compliance, and greater credibility, making your payment processes more efficient and strategic.
Stripe as an Ideal Payment Solution for Singapore Entities
|
Reason |
Explanation |
|
Multi-currency deposit and USD withdrawals available |
You can withdraw USD received from Stripe directly to your Singapore account. |
|
Local payments such as PayNow |
Suitable for businesses targeting Southeast Asian consumers. |
|
Tax and accounting benefits |
Stripe’s GST and VAT automation features, and Singapore’s 17% corporate tax rate. |
|
Pass account |
You can operate a Stripe account based on a trusted Singapore corporation. |
|
Optimizing cash flow |
Reduce costs and structure international remittances by linking with Airwallex, Aspire, and others. |
The Suitable Target Audience
SaaS Startups: Recurring billing and subscription models are essential.
E-Commerce Sellers: Accept card payments with Stripe integration on Shopify, WooCommerce, Ecwid, and more.
Marketplace Platform: Automated settlements and fee distribution with Stripe Connect.
Global Freelancers and Creators: Invoice issuance and prompt payment collection possible.
Digital Nomad: The best way to live abroad and manage multinational income.
Key Steps to Get Started
STEP 1: Establish a Singapore Corporation
- 100% foreign ownership possible.
- Remote establishment possible (if local relocation is required, we can act as your agent).
- Issuance of UEN (Business Registration Number) after incorporation.
STEP 2: Open a Local Bank or Digital Account
- Traditional commercial banks such as OCBC, DBS, UOB, and more.
- Digital financial accounts like Airwallex and Aspire can also be integrated with Stripe.
STEP 3: Open and Connect a Stripe Account
- Open a Stripe Singapore account.
- Business information, Singapore company registration, bank account registration.
- Start operation after test payment.
If you’re building content, operating a SaaS service, handling global payments, or signing contracts with overseas partners, one thing is clear: a Korean corporation alone is no longer enough.
Establishing a Singapore corporation is not just about opening “another branch.” It’s about creating the core infrastructure your business needs for stable global operations and sustainable growth.
What’s Next?
- Steps to open a Stripe account.
- Best practices for structuring tax transactions with Korean corporations.
Practical Examples in Action
SaaS Startup in Korea
Selling AI-based tools developed in Korea to the US and Europe.
- Automate subscription billing with Stripe Billing.
- Profits are settled in USD to the Singapore corporation.
- The Singapore corporation bills the Korean headquarters for the amount required.
Closing Tips: A Practical Checklist for Immediate Use
|
Checkpoint |
Explanation |
|
Clarity on using Stripe |
Needs for recurring payments, global customer payments, or automated settlements. |
|
Check the requirements for establishing a Singapore corporation |
100% foreigners allowed, remote establishment possible, need for local director, and so on. |
|
Account selection strategy |
Compare the Pros and Cons of Traditional Banks (OCBC/DBS/UOB) vs. Digital Accounts (Airwallex/Aspire). |
|
Settlement currency strategy |
Establishing which currency, SGD or USD, is better for Stripe’s earnings settlement. |
|
Tax and accounting linkage preparation |
Stripe tax and review local GST registration and integration with accounting automation systems. |
|
Revenue stream design |
Optimized fund transfer path from Stripe to Singapore account to the required country. |
Establishing a corporation is not the final step. Connecting with Stripe, selecting accounts, designing currency strategies, and even accounting processes are all necessary to create a truly money-generating, operationally efficient structure.
Consider these:
- If you are currently using Stripe
- If you want to expand globally
- If you want your business to be hassle-free
Start designing your payment and settlement system using a Singapore corporation via Premia TNC today.
Premia TNC Singapore Team
Author
Premia TNC Singapore is a dynamic team of experts dedicated to supporting businesses and entrepreneurs as they establish, manage, and grow their presence in Singapore and across the region. Premia TNC Singapore specializes in providing tailored corporate services, from company incorporation and compliance to tax planning and accounting. With our extensive experience and deep understanding of the local regulatory environment, we are here to make business operations smoother and more efficient.
