How to register a Singapore Company?
-Best engage Corporate Service Provider to register Singapore Company
Requirements for Singapore Company Registration
- Shareholder-Minimum 1 and Maximum 50 Shareholder. Shareholder can be local or foreigner and can be natural person or corporate entities.
- Share capital- minimum paid up share capital is SGD 1.
- Directors- Both Singapore resident and foreign resident can be directors. Corporate directors are not permitted. A company must have at least one Singapore resident director. Singapore resident refers to Singapore citizen, Permanent Resident or Employment Pass holder.
- Company Secretary- One qualified company secretary within 6 months of incorporation. Company secretary must be natural person and resident of Singapore.
- Registered Address- Local Singapore Address to keep all statutory document.
- Company- Company Name must be approved before proceed to register.
Steps for registering a Singapore Company
- Name Approval
Get name approved- Cannot be identical to existing business
No infridge on any trade mark
Cannot be obscene or vulgar
Cannot be reserved by another company
Key Facts for name approval
-Company name follows ACRA’s rule, approve less than 1 hour.
-Name may be referred to government authority for further approval takes weeks such as legal, finance, law, broker, and etc.
-once the name is approved. The name is reserved up to 120 days.
- Document Preparation
It is required by the ACRA
-Company Constitution, Previously known as Article of Association (AA). You can decide whether to adopt the standard Singapore Company Constitution available from ACRA.
-Signed consent to Act as Director.
-Signed consent to Act as Company Secretary
-Identification and Residential Address of each Shareholder and Officer of the Company.
Compliance to AML regulation to conduct due diligence, you are required to provide some supporting information such as:
Verification of ID and Address of all shareholders, directors, company secretary and officer of the company.
The professional background pf shareholder and officers.
All documents must be in English or translated to English.
- Company Registration
Register with Singapore Company Registrar, ACRA
-You can register online usually takes less than 1 hour
If the company is required to refer to some government agency then it might take around few weeks.
Supporting Documents for Company Registration
For Individual shareholders
- Passport Copy
- NRIC or Residency Card (for Singapore Resident Only)
- Residential Address proof (such as driver’s license, utility bills, rental agreement)
- Review Professional background such as Curriculum Vitae (CV), resume, linkedin profile.
For Corporate Shareholders
- Certificate pf Registration issued by the Registrar of the jurisdiction where the company is registered.
- Company Extract which consist of:
-Company Name, Registration number, Registered address.
-Paid up capital & particulars of address of all shareholder & directors.
-Business Activities
- Authorized person Resolution passed by Director.
-Authorization to hold shares in the purposed Singapore Company.
-Appointment of Authorized person to sign the Singapore Company Formation documents on behalf of shareholding company.
- Ownership structure chart that identifies the ultimate beneficial owner of the shareholding company. Identification documents for the key UBOs may be required for KYC due diligence.
Official Documents available after Company Registration
- Company Constitution
- Documents issued by ACRA on successful registration such as:
-Certificate of Incorporation
-Company Business Profile (Biz Profile)
Task after Company is Registered
- Open a Corporate Bank Account.
- Apply for any business license (if required)
- Apply for suitable visa (Foreigner)
- Ensure compliance to Singapore Corporate Regulations.
