Singapore company registration is one of the offshore business start-up services provided by BSIDA. It is also called Singapore Company Setup, Singapore Company Incorporation, Singapore Corporate Formation, Singapore Business Startup, and Singapore Business Registration.
Singapore Company Registration-Requirements
1. At least one local director who has to be a Singaporean, or Singapore PR, or Singapore employment pass holder;
2. At least one shareholder, you do not need a Singaporean for a shareholder.
Minimum paid up capital is S$1
3. Incorporation time ranges approximately from 1 day to 5 days depending on time taken for name approval.
Singapore Company Registration-Directors
A Singapore private limited company must have minimum one director. There is no limit on the number of additional local or foreign directors a Singapore Company can appoint. Directors must be at least 18 years of age and must not be bankrupt or convicted for any malpractice in the past. The local directors must meet the following conditions:
1. Singapore citizen
2. Singapore permanent resident
3. Employment pass holder
Singapore Company Registration-Shareholders
A Singapore private limited company can have a minimum of 1 and maximum of 50 shareholders. A director and shareholder can be the same or a different person. Shareholders are like owners of the company. They may or may not actively operate on day to day operations of the company. Singapore Companies Act allows 100% local or foreign shareholding.
Singapore Company Registration-Documents Needed
For the purpose of company incorporation in Singapore, the following information is required by the company registrar:
1. Company Name
2. Brief Description of Business Activities
3. Shareholders Particulars
4. Directors Particulars
5. Registered Address
6. Company Secretary Particulars
7. Memorandum and Articles of Association (MAA). Singapore Company Registrar provides a standard MAA document that is suitable for most instances.
The incorporation service firm you engage will typically collect the following documents from you in order to prepare the necessary company incorporation paperwork:
1) For non-residents: Copy of passport, overseas residential address proof, and other Know-Your-Client (KYC) information such as a bank reference letter, personal and business profile, etc.
2) For Singapore residents: Copy of Singapore identity card
If the shareholder is a corporate entity: Copy of registration documents such as Certificate of Incorporation and Memorandum & Articles of Association.
If you need to set up a company in Singapore, you can always rely on Bsida for registration.
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