Singapore Key Points
- Time – 3 days to incorporate your company
- Directors – a Pte requires 1 resident director which, we can provide
- Shareholders – only one shareholder is required individual or corporate
- Share Capital – the share capital requirement is only $1
- Support – using our 20 years experience we guide you throughout every step of the company formation process
- A Singapore Company is required to appoint a resident company secretary.
Timescale to incorporate a 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.
- Directors details: proof of identity – such as a copy of a passport or national identity card, proof of residential address a bank and professional references.
- Shareholders 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.
- Only one director is required who must be over 21 years of age.
- One Singapore resident director is required
- A director can be a shareholder
- There are no restrictions on the nationality of directors
- Details are kept with the company registry, and available for public inspection of all current directors, shareholders and of the company secretary
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).
- The shareholders can be any nationality
- Only one shareholder is required
- The maximum number of members in fifty
- Shareholders can be a corporation
- 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
Every company must appoint a company secretary . The person appointed must be a Singapore resident.
The minimum issued share capital is SPD 1, there is no authorised share capital as there is in European companies.
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.