Company Incorporation Singapore: Procedure and Requirements

Singapore has long been known for its pro-business ecosystem and forward-looking economic policies. The city-state never fails to woo the global entrepreneurs and investors to come and contribute to its economy. As a result, every year the Republic welcomes tons of expats who wish to embark into company incorporation Singapore.

The majority of entrepreneur enthusiasts prefer to incorporate their business in the form of private limited company. It is the most common and flexible business structure under the Singapore jurisdiction. This blog will unveil a dozen of facts related to company incorporation Singapore. You will come to know how easy and convenient to build the entrepreneurial career in this island nation.

There are many advantages of the private limited company in Singapore. It can be wholly owned by foreign shareholders. Thanks to the business-friendly policies of the nation which allows the aspirants to incorporate with a minimal amount of capital. The paid-up amount can be raised even after the incorporation of the company. A private limited company in Singapore is a tax resident of the jurisdiction and entitled to enjoy all tax benefits rolled out for the companies.

Company Incorporation Singapore: The Procedure

The Accounting & Corporate Regulatory Authority (ACRA) oversees the process of company incorporation in Singapore. The process is regulated by the Singapore Companies Act, Cap 50. You have to undergo two steps viz. 1) Company Name Approval and 2) Company Registration (filing of application form).

1. Company Name Approval: Ideally, you have to choose two to three company names of your desire and check their availability on ACRA’s website. You can pick the company name that is available with authority. The name must be unique, unidentical (with existing company) and meaningful. It must not violate any copyrights, trademarks, or patent law. Once the company name gets approved, you can proceed to the next step, i.e., company registration. An approved company name remains reserved for 60 days.

2. Company Registration: You can file the application form after completing the company name approval process. Be sure to submit all the required documents along with the form. Upon successful submission, you will receive an email from the authority notifying you about the company incorporation Singapore. You will get the soft copy of the incorporation certificate via email.

What are the Requirements?

You must fulfill the following requirements laid down by the authority before company registration process.

• Appoint at least one director who is a Singaporean resident. He/she can be citizen, PR or holder of Employment Pass

• The number of the shareholders can range between one to fifty. Both individual and entity are allowed to be a shareholder. 100% local or foreign shareholding is acceptable.

• The minimum paid-up capital is just S$1.

• A local registered office address has to be there. It has to be the physical one. No P.O. Box address is allowed.

• Within six months from company incorporation, a company secretary has to be appointed.

Once you meet these requirements, you are ready to go for incorporation formalities. You can hire the professional incorporation services Singapore to make the experience smooth, stress-free and fast. Spread your wings to fulfill your dream of company incorporation Singapore simply by following the information given in this blog.

Contact us:
SBS Consulting Pte Ltd
https://www.sbsgroup.com.sg/
High Street Centre,
#17-02, 1 North Bridge Road,
179094 - Singapore
Phone: (65) 6536 0036
Email: info@sbsgroup.com.sg