Company Incorporation In Singapore | Regulation of Company Formation in Singapore
Company Incorporation In Singapore | Singapore Key Points
- Time span ÔÇôit takes only 5 days for company incorporation in Singapore
- Directors of the company – a private limited company Pte needs only one resident director which can be provided by us.
- CompanyÔÇÖs Shareholders ÔÇô the requirement for the shareholders will be only one and they can be either an individual or corporate bodies
- Primary Share Capital ÔÇô it is enough to have $1 as the share capital
- Guide ÔÇô with our expertise knowledge of several years we help you in each and every step of the incorporation process
- It is necessary to appoint a well qualified Company Secretary after company incorporation in Singapore.
Company Incorporation In Singapore | Requirements for incorporating your limited company
- The name of your company and the projected work of your new company
- The companyÔÇÖs objective, stating the primary activity
- Details of the directors: identity proof – such as passport copy or national ID card, address and bank proof and professional references.
- Details of shareholders: if they are individuals then a copy of a passport or national ID card, proof of residential address and bank and professional references. If they are Corporate Members then a copy of Company Statutes and an apostilled Certificate of Good Standing.
- Details of the secretary: identity proof such as a passport copy or national ID card, evidence and testimony of bank and residential address and professional references.
Required documents to provide:
- Identity proof such as national ID card, passport and driving license with photo.
- Residential address proof such as electricity/gas bill or
Directors of Company
ÔÇó The director of the company can be only one which is essential and the key factor is that the individual should be a resident of Singapore for company incorporation in Singapore, as discussed above. He can also be a shareholder, and yet the only shareholder of the company
ÔÇó A minimum of one director of the company should be a resident of Singapore company incorporation in Singapore, which means that individual should be with a Permanent Resident, nationality, or a person who is over the age of 21 years who is entitled with an Entry pass. The entry pass can be the right for residency, pass for Employment, or dependency pass to get the custody of the dependents in Singapore. The director of the company can be of any nationality, but the prerequisite is to have a director of Singaporean resident.
ÔÇó The current directors, shareholders and company secretary details are kept open for public inspection
- The shareholders of the company can be of any nationality
- In few cases where the shareholders (individuals/ corporate) are of the nationals of Bangladesh, China or Pakistan then the formation process can be little longer than the usual, and the authorities may enquire for more details for formation of the company
- Only a single shareholder is required for┬ácompany incorporation in Singapore
- The upper limit will be of 50 shareholders
- Corporate bodies can also be shareholders
- It is not compulsory to employ a shareholder who is a local resident
- A shareholder can also be a director
- Every current shareholders information are kept with the Company Registry, and accessible for general public inspection
Company's Registered Office
Every single Limited Company should have a registered office where reports might be legitimately provided on the organization and where organization records and registers should be kept. The enlisted office must be a physical address in Singapore and must be open and available to the general population for at least three hours for every week in the vicinity of 09:00 and 17:00 on weekdays.
- There should be at least SGD 1 for┬ácompany incorporation in Singapore as the share capital.
- There is no upper ceiling for share capital.
It is a prerequisite to employ a company secretary within a time period of 6 months from the company incorporation in Singapore. The appointed person should be a resident of Singapore, which means someone with a Permanent Resident, nationality or a person over 21 years of age with an Entrepass – right to nationality, or pass for Employment, or a ‘Dependent Pass’ of Singapore residents.
It is not essential to conduct company meetings in Singapore. The first Annual General Meeting (ÔÇťAGMÔÇŁ) should be held within 18 months for the newly incorporated companies. And from then on it should conduct its next AGM in every calendar year, and it should not exceed the time limit of 15 months from the last AGM.