COMPANY INCORPORATION

WHY START A BUSINESS IN SINGAPORE

According to the latest edition of the Institute for Management Development (IMD) Word Competitiveness Ranking, Singapore is the world’s most competitive economy. After Singapore, the top four countries were Denmark, Switzerland, the Netherlands and Hong Kong. As a group, they illustrate the strength of many small economies amid the disruption caused by the coronavirus pandemic.

 

IMD attributed the factors behind Singapore’s success to its robust international trade and investment measures as well as its flexible labour market.

 

In addition, the relative ease of setting up a business in Singapore, the availability of skilled labour and good infrastructure propelled it to the top spot. 

 

Technology giants such as Amazon, Google and Facebook have long set up their regional hubs in Singapore. In 2020, the world saw most economies devastated by the global pandemic. However, companies such as Twitter, Tencent, Zoom, Snap, Shoppe and Rakuten Mobile have expanded their presence here. According to the Economic Development Board (EDB) of Singapore, the republic is home to 80 of the world’s top 100 tech companies.

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GUIDE FOR FIRST TIME ENTREPRENEURS 

You need to consider the following: 

  • Decide a suitable business structure.  

  • Decide a company name.   

  • How to incorporate a Singapore company

  • Ancillary matters after incorporation

 

You can click on the Guide for more information.

MINIMUM REQUIREMENTS FOR COMPANY INCORPORATION

To incorporate a private limited company, you need to fulfil the following

  • Minimum of S$1 share capital

  • Minimum of 1 shareholder (100% foreign shareholding is allowed and the shareholder can either be an individual or a corporate entity)

  • A company secretary

  • Minimum of 1 Singapore resident director

  • A Singapore registered address

Our company incorporation packages are priced competitively to give you the best bang for your buck!

All Plans include:

  • ACRA Biz Profile

  • Share Certificates

  • Constitution of the Company

  • First Directors’ Resolutions

  • ACRA Annual Return (when due)

  • Optional Company Registered Address with top up of $12/mth.

OTHER COMPANY INCORPORATION SERVICES

DOCUMENTS REQUIRED FOR COMPANY INCORPORATION

 FOR SINGAPORE RESIDENTS (SINGAPORE PERMANENT RESIDENTS AND ELIGIBLE EP/ DP / LTVP /STUDENT PASS HOLDERS)

Incorporation process is easy. You just need to come to our office with your identity cards (NRIC or FIN). If all the documents are complete, we will be able to complete the incorporation process within 45 min.

FOR SINGAPORE RESIDENTS PARTNERING FOREIGN RESIDENTS

For Singapore residents, same procedures as above.

For Foreign residents, the following 2 methods allow us to verify your personal information.

 

Method A

Applicable for foreign residents who are physically residing in Singapore.

Kindly bring along your proof of residence (handphone bills or bank statements) and your passport to our office.

 

Method B

Applicable for foreign residents who are Not physically residing in Singapore.

We will send you a Letter of Intent to incorporate a company in Singapore. 

Kindly get a notary public in your city to notarise the Letter of Intent and a copy of your passport.

 

Please ensure that non English documents have to be translated to English before you notarise the documents.

 

You need not notarise proof of residence document. Handphone bills or bank statements which has your printed residential address can serve the purpose.

 

We will start to incorporate your company upon receiving the following documents:

  • Proof of Residence Document

  • Original Notarized Copy of Passport

  • Original Notarized Letter of Intent

FOR FOREIGN RESIDENTS

Please take note that every company must have at least 1 director who is locally resident in Singapore. A resident director can be a Singapore Citizen, Singapore Permanent Resident or EntrePass holder. He can also be an Employment Pass (EP) Holder. However, a EP holder wishing to become the director of a local company must first get a Letter of Consent (LOC) from the Ministry of Manpower.

 

If you do not have a resident director, you can:

  1. Find a Singapore contact (family member or friend) who is willing to assume the role as the resident director of the Company.

  2. Engage a nominee director to act as the resident director of the Company. You may wish to contact us to find out more about nominee director service.

 

For Foreign Residents, there are 2 ways to verify your personal particulars.

Method A

Applicable for foreign residents who are physically in Singapore.

Kindly bring along your proof of residence (handphone bills or bank statements) and your passport to our office.

 

Method B

Applicable for foreign residents who are Not physically in Singapore.

We will send you a Letter of Intent to incorporate a company in Singapore. Kindly get a notary public in your city to notarise the Letter of Intent and a copy of your passport. Please ensure that non English documents have to be translated to English before you notarise the documents.

 

You need not notarise proof of residence document. Handphone bills or bank statements which has your printed residential address can serve the purpose.

 

We will start to incorporate your company upon receiving the following documents:

  • Proof of Residence Document

  • Original Notarized Copy of Passport

  • Original Notarized Letter of Intent

FOR COMPANIES WITH CORPORATE SHAREHOLDERS

If the company has one or more corporate shareholders, the following documents are required.

 

A board resolution from the company that authorises a specific person (usually the director) to act on behalf of the Corporate Shareholder in the incorporation process, including signing the incorporation papers.

 

A board resolution to approve the incorporation of a Singapore Limited Company. Key information should include:

  • Shareholder structure

  • Total share capital

  • Who are the shareholders

  • Who are the first directors

  • To vest the power to act on such matters in the authorised person acting on behalf of the Corporate shareholder

 

For local companies, a copy of the biz profile from ACRA is needed. For foreign companies, Company Profile document from country of domicile and Certificate of Incorporation is required.