STARTING A COMPANY IN SINGAPORE
If you are looking into starting a business in Singapore, you have come to the right place.
Guide to setting up a business in Singapore
Decide on which type of business entity you would like to incorporate.
Available business entity types include :
• Sole proprietorship
• Partnership
• Limited liability partnership
• Private limited company (most common)
Features of a Private Limited Company (Most Common Structure)
• An independent legal entity separate from its owners – it can sue and be sued in its own name.
• Company shareholders’ have limited liability to the company.
• It can own property.
• A minimum of one and a maximum of 50 shareholders.
• The company is considered a tax resident and it eligible for local tax exemptions.
Minimum Setup Requirements to Register a Pte. Ltd. Company
• One Shareholder (an individual or corporate entity)
• One Resident Director (Singaporean or Singapore Permanent Resident)
• One Company Secretary
• Paid-up share capital of at least S$1
• A physical Singapore registered office address
1) Gather your investors
The company should have a minimum of one shareholder (Individual or Corporate)
2) Appoint your directors in the company
A director would have to be held by a person above the age of 18.
Your Director would have to be a Singaporean or Singapore PR.
A Pass holder could also become a Director, subject to the Ministry of Manpower’s regulations.
3) Register your company with ACRA
Once all of the information is ready, you are ready to register your company with ACRA.
4) Appoint a company secretary
Within 6 months of incorporation, your company is required to appoint a company secretary who is residing in Singapore
5) Appoint an auditor
This has to be done within 3 months of incorporation unless your company meets the requirements for exemption from statutory audit.