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Singapore Company Registration

Singapore-Company-Registration

Starting a business in Singapore has become a practice among the foreign entrepreneurs to tap the Asian markets. To setup Singapore Company, the government has made the process of company registration quite simpler and hassle free, which can be explained below.

The important aspect of Singapore company registration is that majority of them are registered as private limited liability companies commonly referred to as private limited companies. As per the Singapore Companies Act, any local or foreigner above 18 years of age can start a company in Singapore. It is a separate legal entity wherein the shareholders are not liable for the company’s incurred debts or the losses beyond their contribution of the amount for share capital.

Key Facts about Singapore Business Formation

Name of Company: All business enterprises must get the approval of the company name by ACRA (Accounting and Corporate Regulatory Authority of Singapore) prior to the business registration in Singapore. It takes a few hours for the approval, as long as it is unique, not vulgar and does not infringe registered patents.

Shareholders: The number of shareholders of a private limited company in Singapore is at least one and not more than 50. They can be resident(s) of Singapore or foreign entities.

Paid-up Capital:  A company can be incorporated in Singapore with a minimum paid-up capital of S$1, without any cap on the maximum capital required.

Directors: A newly registered company must appoint at least 1 director who is a permanent resident of Singapore or a Singapore citizen or any other person holding a valid Employment pass, EntrePass or Dependent Pass. The director(s) must be at least 18 years of age and devoid of any criminal record.

Company Secretary: Every company must have a qualified company secretary who is a natural citizen or permanent resident of Singapore or a holder of any of the three passes Employment Pass, EntrePass or Dependent Pass. A Company secretary must be appointed within six months of business incorporation in Singapore.

Registered Office: A company must provide a registered physical address located in Singapore.

Basic Guidelines to Start a Singapore Company

  • Approval of the company name
  • Submission of the required documents
  • Registration of the Singapore company
  • Opening of a Corporate bank account

Requisite Documents For the Purpose of Singapore Company Incorporation

  • Memorandum and Articles of Association (M&A)
  • Details of Shareholders, Directors and Company Secretaries.
  • Company name
  • Registered address
  • Identity Proof
Please feel free to contact us on +65 6536 0036 or drop in an email at info@accountingservice.com.sg

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