Singapore Company Formation

Requirements

Director

  • Minimum One (1) who must be an INDIVIDUAL “ordinary resident in Singapore” i.e. a Singapore resident, a Permanent Resident or a person who has been issued an Employment Pass / Dependent’s Pass
  • Must be above 18 years of age


Company Secretary

  • Minimum One (1)
  • Must be appointed within 6 months from the date of incorporation.
  • If the company has only one Director, the sole Director cannot act as the company Secretary.


Shareholder

  • Minimum One (1) who can be an individual or a corporate.
  • 100% Foreign Ownership allowed.


Registered Office

  • Must be an address in Singapore which must be operational and accessible to public during normal office hours.
  • Please note that a P O Box address cannot be used as an address. We can help you get an address at an additional cost


Auditor

  • The company must appoint an Auditor within 3 months from the date of incorporation unless it is exempted from audit requirements under section 205B (dormant company) or 205C (small *exempt private company with revenue not exceeding S$5 million) of the companies act. [*exempt private company is a private company which does not have more than 20 shareholders and none of the shareholder is a corporation].


Financial Year End and Annual General Meeting

  • First Annual General Meeting (AGM) and first set of accounts must be held and filed with ACRA within 18 months from the date of incorporation. Thereafter, an AGM must be held once in every calendar year and not more than 15 months from the last AGM.
  • The accounts must be made up to a date not more than 6 months before AGM.
  • The Company must file its Annual Returns and Accounts within 1 month from the AGM.

Procedure

To begin with kindly obtain a copy of our application form which acts as a guide in providing us the necessary information and documents for setting up the Singapore company.

Stage 1 – Check Name and Reservation

  • An application will be submitted to the Accounting and Corporate Regulatory Authority (ACRA) to obtain an approval for the proposed company name.
  • The approval takes about 15 to 30 minutes
  • Once approved, the company name will be automatically reserved for 60 days
  • However, it may take 14 days to 2 months if the application needs to be referred to other authorities for approval or review. For example, setting up a private school, the application will be referred to the Ministry of Education.


Stage 2 – Prepare and execute the incorporation documents

  • Upon Approval by ACRA, we will prepare a set of incorporation documents for signing the proposed Director(s) and Shareholder(s).


Stage 3 – Registration with ACRA

  • Upon completion of Stage 2, we will file the relevant documents with ACRA electronically.
  • ACRA normally required a few hours to process and issue the registration number.
  • However, an original certificate confirming incorporation of company will only be available approximately 7 working days after filing.

Others

Nominee Resident Director

    We can provide the service of a nominee resident director provided the following information is provided

  • Description of the business activities of the new proposed company
  • Its source of funds / capital
  • Details of beneficial owners

In addition a Security Deposit of USD. 5,000/- (refundable upon cancellation or termination of license) is required. The beneficial owner(s) must enter into our Agreement of Services.