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Singapore is a paradise for startup! Besides being an international financial hub, its pro-business environment, and its friendly tax policy are perfect for startup! Go big, or go small? It’s up to you! Incorporate a Singapore Company is as easy as pie if you do it right!

Singapore Company Incorporation Requirements

To incorporate a company in Singapore, please ensure your company fulfills all the requirements below:

  • Director: The director must be at least one local resident director**. A resident director means individuals who are a Singaporean citizen, a Singaporean permanent resident, or an EntrePass/Employment Pass/ Dependent’s Pass’s holder with LOC.
  • Shareholders. Shareholders can either be corporate entities or individuals. The shareholding of a company can be fully foreign or fully local. Any other combination is also allowed. A director can also be among the company’s shareholders.
  • At least S$1 paid-up capital
  • A physical local address
  • A company secretary
Guide to Company Registration

** If you are not a local resident, you can appoint a nominee director to get started before your EntrePass/Employment Pass is approved by the Ministry of Manpower. Engage a Paul Hype Page Incorporation Specialist for details.

The steps for company incorporation

Once your company fulfills all the requirements of company incorporation, you can proceed to the incorporation process. Here are the steps for company incorporation in Singapore:

  1. Fill up the Singapore Company registration form
  2. Review your documents and make sure that all the relevant documents are available
  3. Register the company name
  4. Ensure all the necessary documents are ready
  5. Sign the incorporation documents
  6. Incorporate the company with the Accounting and Corporate Regulatory Authority (ACRA)
  7. Open a corporate bank account (Make sure you have the company resolution and supporting documents

Of course, it can be complicated if you have no experience in setting up a company in Singapore. Paul Hype Page Specialist can help if you prefer to start your business in a more efficient manner. Contact us today!

Thinking of incorporating in Singapore? Let’s get started.

E A S I E R • F A S T E R • B E T T E R

Documents required for Singapore Company Incorporation

  • Particulars of shareholders, directors, and company secretary
  • Company constitution
  • Company name
ResidentsNon-ResidentsCorporate Shareholders
  • Scanned copy of Singapore NRIC (front and back)
  • Proof of address
  • Scanned copy of passport
  • Proof of overseas address (such as a utility bill or bank statement)
  • Scanned copy of the certificate of incorporation
  • Scanned copy of a business profile
  • Scanned copy of Memorandum and Articles of Association
  • Proof of address
  • Copies of the corporate representative’s and beneficial owners’ passports
  • Organizational chart

Post Incorporation Procedures

Appoint a corporate secretary and an auditor

  • Once your company has been incorporated, you must appoint a corporate secretary. An auditor must also be appointed for your company should your company requires one.

Corporate bank account

  • You must also open a corporate bank account for your newly incorporated Singapore company. Singapore’s business law requires every company to have an associated corporate bank account. This legal requirement applies regardless of the nationality of the company’s owner.

Introducing Paul Hype Page’s preferred Business Neobank partner Aspire bank is a good option for a corporate bank account opening. Aspire serves many startups in Singapore with convenient & inclusive financial services, currently operating across Thailand, Vietnam, Indonesia, Singapore.

Opening an Aspire Business Account can be done entirely online, from anywhere at any time. The best part is that it is free, requires no minimum deposit, and has no monthly fees or fall below fees. Aspire also offers cashback on digital spending like Google,

LinkedIn, Facebook, and more. More features can be found on their website: www.aspireapp.com.

Note: Aspire is operating under the Monetary Authority of Singapore in accordance with the Payment Services Act (No. 2 of 2019).

Of course, if you want a seamless Singapore Company Incorporation process, it will be a pleasure for the incorporation specialist from Paul Hype Page to step in. Our incorporation expert can provide you a one-stop solution for your Singapore company incorporation, from setting up a company, open a bank account to annual compliance. You just have to submit all the required documents.

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Foreign business owners’ work visa

There are two options for a foreigner to start a business in Singapore:

  1. Relocate to Singapore and manage your company
  2. Stay in your home country and let someone else hold the rights

If you are a foreigner, you can also incorporate a branch, a subsidiary, or a representative office in Singapore if you have a company in your home country For more information, regarding foreigners to start a business in Singapore

Different types of the company set up in Singapore

Private Limited Company
(Recommended)

Limited by shares and is a separate legal entity from its shareholders. It is recognized as a taxable entity.

Sole Proprietorship

A business entity owned by one person.

Partnership

Two or more individuals carrying out a business. Assets and returns are typically shared internally, although the amount may differ.

Limited Partnership

A business owned by two or more individuals. At least one must be a General Partner, and one a Limited Partner.

Limited Liability Partnership (LLP)

Each partner’s own liability is generally limited.

Singapore Company Registration FAQs

How long will it take me to incorporate a company in Singapore?2021-03-30T12:15:06+08:00

Incorporation of a company in Singapore usually takes one day. However, it might take 14 days

Can a director of My Singapore Company be a foreigner?2021-03-30T12:14:01+08:00

All Singapore companies should have at least one director who is a Singapore Citizen or one who holds a Singapore permanent resident or an employment pass holder. However, a foreign director can be appointed alongside the local director.

How can I register a Company in Singapore?2021-03-30T12:13:58+08:00

After getting your company name and it approved, you can then prepare the registration documents and then finalize them by registering the ACRA. You will also need Memorandum and Articles of Association.

Which type of business structure should I start in Singapore?2021-03-30T12:12:40+08:00

The private limited company is the best business entity in Singapore as it has numerous benefits like the ability to access loans, limited liability on the shareholders

Can a foreigner start a company in Singapore?2021-03-30T12:12:37+08:00

Yes, a foreigner is permitted to incorporate a company in Singapore. A foreigner intending to relocate to Singapore or those who have employment pass can incorporate a Singapore company.

For more information regarding work permits for foreigners who want to start a company in Singapore, do check out

How long is the validity of my Employment Pass?2021-03-30T12:11:05+08:00

The validity of an employment pass is 2 years in general.

How long the registered company name is being reserved before my company is being incorporated.2021-03-30T12:10:35+08:00

Your registered company name will be reserved for 60 days before incorporation. You can apply for another 60 days extension if you need it.

What is the corporate rate in Singapore?2021-03-30T12:06:33+08:00

17%.

How do I know if my company is successfully incorporated in Singapore before my relocation?2021-03-30T12:03:16+08:00

After your company has been successfully incorporated, you will receive the Certificate of Good Standing from ACRA and a Company Business Profile. Once you have these documents in hand, you will be assured that your company has been successfully incorporated.

2021-03-30T15:19:49+08:00March 30, 2021|0 Comments
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