Guidance on incorporating a Singapore company

Company Type	Time to Incorporate	Cost
Pte. Ltd	3 days	£1950

Timescale to incorporate a Private Limited Company in Singapore

Normally takes three days to incorporate your company and you do have to visit Singapore.

Documents and Information

To incorporate your private limited company in Singapore we require the following:

• The proposed company name and intended activities of your new company.
• Director/s details: proof of identity - such as a copy of a passport or national identity card, proof of residential address and bank and professional references.
• Shareholder/s details: in the case of individuals, this means proof of identity - such as a copy of a passport or national identity card, proof of residential address and bank and professional references. In the case of Corporate Members - this means an apostilled Certificate of Good Standing and a copy of the company Statutes.
• Secretary details: proof of identity - such as a copy of a passport or national identity card, proof of residential address and bank and professional references.

Directors

• Only one director is required.
• There must be at least one Singapore resident director, as stated above.
• A director can be a shareholder, and even the only shareholder of the company.
• At least one of the directors needs to be a Singapore resident (this means someone with nationality, a Permanent Resident, or a person over 21 years of age who has been issued an Entrepass - right to residency, or an Employment Pass, or a Dependent Pass which gives residency to dependents of Singapore residents).
• There are no restrictions on the nationality of directors, excepting the requirement to have one Singapore resident or national as director.
• Details are kept with the company registry, and available for public inspection of all current directors, shareholders and of the company secretary.
• Nominee directors are allowed, and it is recognised that nominee directors are used by many companies. Formacompany can provide a nominee director.

Resident Director Requirements

At least one of the directors needs to be a Singapore resident (this means someone with nationality, a Permanent Resident, or a person over 21 years of age who has been issued an Entrepass - right to residency, or an Employment Pass, or a Dependent Pass which gives residency to dependents of Singapore residents). We do offer a nominee services

Shareholders

• The shareholders can be any nationality.
• Sometimes should the shareholders be nationals of China, Bangladesh or Pakistan or some other countries, or be corporate shareholders from these countries, the incorporation can take a little longer. Should this be the case, the authorities processing the incorporation may ask for more information about the incorporation.
• Only one shareholder is required.
• The maximum number of members in fifty.
• Shareholders can be a corporation.
• Nominee Shareholders are allowed. Formacompany can provide this services.
• It is not a requirement to appoint a local resident shareholder.
• A director and shareholder can be the same person.
• Details are kept with the Company Registry, and available for public inspection of all current shareholders.

Company Secretary

Every company must appoint a company secretary within 6 months of the company incorporation. The person appointed must be a Singapore resident: this means someone with nationality, a Permanent Resident, or a person over 21 years of age who has been issued an Entrepass - right to residency, or an Employment Pass, or a 'Dependent Pass' which gives residency to dependents of Singapore residents.

Share capital

The minimum issued share capital is SPD 1. There is no authorised share capital as there is in European companies.

Company Records

The company does not have to keep records in Singapore. If the company chooses to keep records they can be kept anywhere in the World. Financial Statements need to be lodged with the tax authorities in Singapore.

Company taxes on profits

Corporation Tax is only paid on income earned or possible income remitted into Singapore. There is a tax holiday for new companies.