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For young and experienced entrepreneurs, Singapore is a place to fulfil their dreams and make their presence felt in the market. If you are one such a dreamer, you need to know how to proceed with your company registration in Singapore.
As per the Singaporean Company Law, if you are a citizen over 18 years of age, you can self-start a company. However, if you are a foreigner, you need to hire an Agent for your company registration.
Pre-Registration Requirements
For the registration of a company in Singapore, you need to be ready with:
• At least one shareholder
• At least one local director
• Minimum initial paid-up capital of S$1
• At least one company secretary
• Local registered address
• Approved company name
Director
You need to arrange at least one resident director who is a Singapore citizen, permanent resident, or holder of EntrePass pass.
Shareholders
A private limited company needs at least one shareholder. Up to fifty entities (individuals and companies) can come together to form a company. Singapore allows 100% foreign shareholding.
Company Secretary
You must appoint at least one company secretary within sixth months of registering your company. The secretary must be ordinarily resident of Singapore.
Approved Company Name
You need to apply to ACRA and get your company name approved.
Registered Local Address for Office
You need to provide a local registered address in Singapore for your company office at the time of company registration.
Registering a Company in Singapore
You can use the BizFile+ portal for your company registration in Singapore. However, many entrepreneurs appoint a registered filing agent to do the task for them.
Apply to ACRA and Get Approval for Company Name
• The company name needs to be unique, meaningful, easy to read and without any vulgar or obscene word.
• It should not violate any trademarks.
• If it contains phrases like “Bank,” “Finance,” “Educational,” or “Media,” your application may get refereed to higher authorities.
• The approved company name is reserved for you for 60 days.
• Pay S$15 as company name registration fee.
Apply and Get Company Registered with ACRA
The process for company registration requires 1-3 days. Pay S$300 as the fees for registering your company to ACRA. Submit the following documents to your Agent to make the process smooth and hassle-free.
• Company name registered with ACRA
• Description of business activities
• The registered local address of the company office
• Details of shareholders
• Details of directors
• Details of company secretary
• Foreign Individuals need to submit a copy of passport and residential address proof (overseas)
• Foreign Companies need to submit their Articles of Associations & Memorandum
• Singapore Residents need to submit a copy of Singapore identity card
If you are a foreigner, appoint an accounting firm, a law firm, or a corporate secretarial firm as your Agent to take care of the company registration process for you. You also need to appoint a local director (Singaporean, Permanent Resident, or EntrePass holder).
What else can I help you with?
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You need to register your company name with state government and register it as a business or company. You should also register a domain name on the internet with the business name.
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