For young
and experienced entrepreneurs, Singapore is a place to fulfil their dreams and
make their presence felt in the market. If you are one such a dreamer, you need
to know how to proceed with your company registration in Singapore.
As per the Singaporean Company Law, if you are a citizen over 18 years of age, you can self-start a company. However, if you are a foreigner, you need to hire an Agent for your company registration.
Pre-Registration Requirements
For the
registration of a company in Singapore, you need to be ready with:
• At least
one shareholder
• At least
one local director
• Minimum
initial paid-up capital of S$1
• At least
one company secretary
• Local
registered address
• Approved company name
Director
You need to arrange at least one resident director who is a Singapore citizen, permanent resident, or holder of EntrePass pass.
Shareholders
A private limited company needs at least one shareholder. Up to fifty entities (individuals and companies) can come together to form a company. Singapore allows 100% foreign shareholding.
Company
Secretary
You must appoint at least one company secretary within sixth months of registering your company. The secretary must be ordinarily resident of Singapore.
Approved
Company Name
You need to apply to ACRA and get your company name approved.
Registered
Local Address for Office
You need to provide a local registered address in Singapore for your company office at the time of company registration.
Registering a Company in Singapore
You can use the BizFile+ portal for your company registration in Singapore. However, many entrepreneurs appoint a registered filing agent to do the task for them.
Apply to
ACRA and Get Approval for Company Name
• The
company name needs to be unique, meaningful, easy to read and without any
vulgar or obscene word.
• It should
not violate any trademarks.
• If it
contains phrases like “Bank,” “Finance,” “Educational,” or “Media,” your
application may get referred to higher authorities.
• The approved
company name is reserved for you for 60 days.
• Pay S$15 as company name registration fee.
Apply and
Get Company Registered with ACRA
The
process for company registration requires 1-3 days. Pay S$300 as the fees for
registering your company to ACRA. Submit the following documents to your Agent
to make the process smooth and hassle-free.
• Company
name registered with ACRA
• Description
of business activities
• The
registered local address of the company office
• Details of
shareholders
• Details of
directors
• Details of
company secretary
• Foreign
Individuals need to submit a copy of passport and residential address proof
(overseas)
• Foreign
Companies need to submit their Articles of Associations & Memorandum
• Singapore Residents need to submit a copy of Singapore identity card
If you are
a foreigner, appoint an accounting firm, a law firm, or a corporate secretarial
firm as your Agent to take care of the company registration process for you.
You also need to appoint a local director (Singaporean, Permanent Resident, or
EntrePass holder).
