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If you are opting for company registration in Singapore, knowing the minimum requirements of the task will be useful to you. Well, setting up a company in Singapore is not a challenging task. The authorities have kept the process to a minimum and most importantly, free of red-tape.
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What are the Minimum Requirements to Start a Company in Singapore? If you are opting for company registration in Singapore, knowing the minimum requirements of the task will be useful to you. Well, setting up a company in Singapore is not a challenging task. The authorities have kept the process to a minimum and most importantly, free of red-tape. If you are a local business owner, you can visit ACRA's BizFile+ portal using your SingPass ID and can easily self-register your company. However, foreigners cannot do so. They need to hire an experienced agent for their company registration in Singapore. Minimum Requirements for Singapore Company Registration The following are the minimum requirements for forming a private limited company in Singapore. You need: •Minimum initial paid-up capital of S$1 •At least one shareholder/member •At least one local director •At least one company secretary •Registered local address for the company office Company Name First, visit BizFile+ portal and check if the company name is available. Have a list of 3-5 names ready. Paid-Up Share Capital The minimum initial paid-up share capital you need to set up a company is S$1.
Shareholder You can form a private limited company in Singapore with a minimum of 1 shareholder. Their number can be as high as 50. The shareholders can be individuals or corporate. Singapore Company Law allows 100% foreign shareholding. Director You need to employ at least one individual as a director for your Singaporean company. The appointee has to be an ordinarily resident of Singapore. You can hire any Singaporean, Permanent Resident or holder of an EntrePass as the resident director. Registered Local Address You need a local registered address for the company office. The Company Registrar (ACRA) use it for official communication with you. P. O. Box address is not valid. Corporate Secretary As per the law, you need to employ at least one corporate secretary within 6 months from the date of company incorporation. Hire an experienced and certified individual who is ordinarily resident of Singapore. Well, now you know the minimum requirements to set up a Singapore company. In addition to complying with these requirements, you need to submit the documents listed below. •Company name approved by ACRA •Business activities •Registered local address •Particulars of shareholders/directors/secretary •Foreign Individuals: A copy of passport & proof of residential address (overseas)
•Foreign Companies: A copy of company constitution or M&AA •Singaporean Residents: A copy of Singapore ID card Process for Company Registration in Singapore The process for Singapore company incorporation is easy and online. You need to complete only 2 steps. Your agent can start the process by visiting BizFile+. Company Name Your company name should be unique and easy to remember. It should also be meaningful and hint at your business activities. The company names that are malicious, black-listed, or vulgar are rejected by ACRA. Your agent checks whether a name is available or not by checking it on BizFile+. They also pay S$15 in ACRA's fee and register the available name. Application to Incorporate Your Singapore Company Submit your incorporation documents to your agent. They can, then, apply to ACRA for your company registration Singapore. SBS Consulting provides expert services for company registration in Singapore. We are one of the reliable registered filing agents. If you have any queries, contact us on +65-6536 0036 or email us at info@sbsgroup.com.sg for more info.
