Incorporation of Singapore Company

Setting up a company in Singapore

Unlike many countries, starting a business in Singapore is relatively simple. The country offers excellent opportunities due to its strong investment in skilled workers and modern infrastructure. There is very little bureaucracy or formal registration to worry about when establishing a business. However, it's important to understand the process of setting up a company, the services available, and the key rules you must follow when doing business in Singapore.

Registering with the proper authorities

Entrepreneurs or companies looking to register a foreign branch office in Singapore must work with a lawyer, chartered accountant, or registered professional to handle the necessary paperwork and documentation. The Companies Act also requires businesses to appoint at least two individuals to manage and conduct business on behalf of the entity in Singapore.

Getting the company name approved

The Companies Act states that a company’s name must be approved by the relevant authorities before it can be officially registered. A name will not be approved if it is identical to an existing business name or is deemed offensive, racist, vulgar, or otherwise inappropriate for registration.

Requirements for setting up a company in Singapore

To establish a company in Singapore, the law requires a minimum of one shareholder, one director, and one company secretary.

• The Director: The director must be a Singapore citizen, permanent resident, or an Employment Pass holder. They must be at least 18 years old, cannot be bankrupt, and should not have any history of malpractice.
• The Shareholder: A company in Singapore can have up to 50 shareholders, who can be individuals or corporate entities. The director can also be the shareholder, or they can be different individuals. Both local and foreign shareholders are allowed, with 100% foreign ownership permitted.
• The Company Secretary: According to the Singapore Companies Act (SCA), a company must appoint a company secretary within six months of incorporation. The company secretary must be a Singapore resident.

The company must also have a minimum paid-up share capital of S$1. However, if you hold an EntrePass, the minimum paid-up capital is S$50,000. Additionally, the company must have a registered office address in Singapore; PO Box addresses are not allowed.