Incorporate a Singapore Company: Singapore Business Registration Setup Requirements
- Author Daniel Yio
- Published October 29, 2010
- Word count 383
The extent of business opportunities and tax advantages outlined for both local and foreign individuals is matched with detailed and accurate Singapore business registration requirements. This means that whoever wishes to start and setup a business in Singapore should be willing to follow the rules before and after the business registration.
In business registration, Private Limited Company is the most chosen type of company being incorporated. It is a type of private company limited by shares and registered with Accounting & Corporate Regulatory Authority (ACRA) under the Singapore Companies Act.
These are some of the common setup requirements that you need to know to successfully register a Singapore business:
-
Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary
-
Minimum initial paid-up share capital is S$1
-
Singapore Company must have a Singapore registered office address
-
For applicants who are applying for Entrepass, a minimum of S$50,000 paid up is required.
-
There are also important considerations to check before incorporation, among which are:
-
Company Name: The company name must be unique for it to be approved by ACRA.
-
Shareholders: A minimum of at least one corporate or individual shareholding is required. A director and shareholder can be the same or different person. 100% local or foreign shareholding is allowed. Singapore Companies Act allows a minimum of one and a maximum of 50 shareholders for a Singapore Private Limited Company. Details of shareholders will appear on public records.
-
Resident Directors: There should be a minimum of one Singapore resident director.
-
Company Secretary: There should be one Singapore resident company secretary.
-
Share Capital/Paid-up Capital: The minimum paid-up capital for registration of a Singapore company is S$1 or its equivalent in any currencies. The minimum issued capital is one share of par value. "Bearer" shares or "No par value" shares are not permitted.The Share or paid-up capital can be increased anytime after incorporation of the company.
-
Registered Address: There should be one registered office address.
-
Memorandum and Articles of Association: Memorandum and Articles of Association must be lodged with ACRA.
-
Foreigner individuals and companies should also be knowledgeable on the following:
-
Foreigner individuals and companies are required to seek for the services of a professional firm since they are not allowed to process the setup on their own.
-
Secure work visa for foreign individuals.
-
Secure work visa for foreign corporation management staff.
A Singapore Representative Office does impose restrictions on the number of foreign staff that can be relocated from its foreign Head Office to Singapore. View more information on How to establish a Singapore Representative Office.
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- How to Resolve Differences in the Workplace Without Argument
- 5 Proven Ways to Motivate and Retain your Technology Employees
- 10 Reasons to Start Benchmarking Your Business Today
- Fostering Collaboration in a Technologically Evolving Workplace
- 20 Best Employee Time Tracking Software to Streamline Your Workflow
- Healthcare Project Management: Ultimate Guide
- Leadership Advisory: Embracing Output and Results-Driven Management for High-Performing Teams by Dr. TA Malapane
- How to Shield Your Contracting Business from Common Risks
- "The Future of Money: How Digital Currencies are Transforming Global Finance"
- Advanced Analytics in Supply Chain Management: Driving Efficiency through Data
- Zodot — An end to end free Saas Platform to Automate Your Daily Business Activities
- Guide to Workforce Planning: Process and Strategies
- Effective Business Mentorship Strategies for Startups
- Next-Generation Seismic Techniques for Efficient Permian Basin Exploration
- The Major Challenges In Government Payment Processes – Survey Reveals Critical Inefficiencies
- The Psychology of Online Bargain Hunting: What Small Business Owners Need to Know
- Cultivating a High-Performance Culture in Bangladesh: The Strategic Imperative of Employee Engagement
- Improving Coding Efficiency: Streamlined Workflows with Medical Coding Audit Services
- Ensuring Coding Accuracy: How Medical Coding Audit Services Identify and Correct Errors
- Streamlining Insurance Verification: How Healthcare Automation Services Simplify Eligibility Checks
- Managing Administrative Overload: Streamlining Processes with Healthcare Automation Services
- Navigating State Licensing Variations: Expert Guidance from Medical Licensing Services
- Ensuring Accurate Documentation: The Role of Medical Licensing Services in Error Prevention
- Navigating State Licensing Variations: Expert Guidance from Medical Credentialing Services
- Handling Multiple Credentialing Applications: Streamlined Management by Credentialing Services
- Handling Complex Medical Histories: Efficient Record Management by Patient Access Services
- Improving Overall Patient Experience: Enhanced Satisfaction with Patient Access Services
- Finding the Perfect Partner: A Comprehensive Guide to Choosing the Best Virtual Assistant Agency
- The Transformative Potential of Medical Virtual Assistants in Healthcare
- Maximizing Profitability: The Economics Behind Customizable Design Assets