Company Incorporation in Singapore
Company Incorporation In Singapore
The types of Companies which can be incorporated in Singapore are as follows:
- Private Limited Company
- Exempt Private Limited Company
- Gazetted Private Limited Company
- Company Limited by Share
- Company Limited by Guarantee
The government authority which governs company incorporation in Singapore is Accounting and Corporate Regulatory Authority of Singapore.
Requirements For Company Incorporation In Singapore
Following are the pre-requisites to incorporating a company in Singapore
- Shareholder(s): at least on – Maximum no of shareholders 50 for a private limited company.
- Paid-up capital: Minimum S$1
- Local registered address
- Local resident director: at least one
Any person above the age of 18 years can be appointed as a director of a company. The minimum number of directors required for incorporation a company in Singapore is 1 (one). At least 1 shareholder is required for the purpose of incorporating a private limited company in Singapore. A private limited company in Singapore can have a maximum of 50 shareholders.
Foreign shareholder can act as a director of the Company. A shareholder is not required to be physically present in order to incorporate a company in Singapore. A company can be completely owned by foreign shareholders as long as the requirement of local Singaporean director is adhered to. It is not mandatory for shareholders to be physically present in order to incorporate a company in Singapore.
The proposed name of the company is required to be reserved with Accounting and Corporate Regulatory Authority, Singapore before incorporation of the company. The name reservation once approved remains valid for a period of 120 days and if the requisite documents/ information is not furnished within this period then the proposed name becomes available for public and the name approval is required to be obtained again before incorporating a company.
A license may be required from the relevant government authority to commence business operations in Singapore depending on the nature of the business. For example, restaurant operators, companies involved in financial services etc. are required to be registered with relevant govt. authorities.