Both local and foreign entrepreneurs and companies should be knowledgeable on all information needed before and after Singapore company registration. Being knowledgeable on the registration requirements and process will make the registration fast and enable businessmen to operate immediately.
Singapore, being a pro-business locale attracts a lot of investors, businessmen and professionals to come into the country and try exploring the business opportunities available. Because of this reputation, we would like to present to you some basic considerations that will help you register a Singapore company.
Below, are some of the common things to consider before you are able to register a Singapore company:
Company name: The company name must be unique, desirable and must be approved by Accounting and Corporate Regulatory Authority (ACRA) of Singapore.
Shareholders: You are required to have a minimum of at least one corporate or individual shareholding and a maximum of 50 shareholders. Shareholders can either be 100% foreign or a combination of resident and foreign shareholders. Remember that details of directors are made publicly available.
Directors: It is required to have at least a minimum of one director who should be a resident of Singapore, which means a Singapore citizen, Singapore permanent resident or an EntrePass/Employment pass holder with a registered address. Directors should be 18 years of age and should not have a history of bankruptcy.
Company Secretary: you are required to appoint a company secretary who should be a resident in Singapore within six months of incorporation.
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: The registered address must be a physical address and cannot be a PO Box. Use of residential address is allowed for certain types of business.
Memorandum and Articles of Association: Memorandum and Articles of Association must be lodged with ACRA. Memorandum specifies the activities in which the company may engage whereas the Articles of Association specifies the rules governing the internal management of the company.
Now that this basic information is a hand and still you wish to have additional information and further assistance, please do not hesitate to consult an authorized business registration firm in Singapore. The government of Singapore is ready to welcome you and more than willing to provide you the best assistance they could offer.
Rikvin has successfully helped hundreds of both foreign and local entrepreneurs secure their Singapore Employment Pass. The firm provides a complete corporate solution under one roof for Singapore Subsidiary Registration, assistance to register a Singapore company, with the opening of corporate accounts, business registration including accounting, tax, immigration related to work passes visa and compliance services in Singapore.