Loading…

More about Company in Singapore

Reasons to incorporate in Singapore?

  • Registered office or place of business in Singapore
  • Ease of raising capital from international funds
  • Less compliance
  • Operational convenience
  • Limited liability
  • Can be wholly owned by a foreign parent company

Requirements to start a Private Limited Company

  • At least 1 Singaporean Director
  • Number of employees including parent company <=50
  • A copy of Local address proof
  • The company must have a company secretary who meets all the requirements for the post.
  • Minimum Paid up Capital
  • Minimum 1 director
  • Director can be a Shareholder

Process Flow

Timeline 10-15 working days
  • Name check and registration
  • Find SSIC Code for your Business
  • MoA and AOA drafting
  • Registration
  • Licenses and Approval
  • Appoint Company Secretary
  • Shareholding Pattern

Required Documents

  • Office Local Address Proof (Electricity Bill or Rental Agreement)
  • Director’s PAN Card
  • Director’s Address Proof (Electricity Bill, Telephone Bill, Bank Statement, Passbook or Rental Agreement
  • Director’s ID Proof (Passport)
  • A brief description about the venture

Key Deliverables

  • Name Approval Letter
  • Certificate of Incorporation
  • MoA & AoA
  • Approval and License
  • Share Certificates ( After Paid-Up capital is transferred to companies bank account )
  • First board resolution
  • Bank account opening resolution

Why choose Wazzeer?

  • One platform for all your requirements

    Incorporation is just the first step. Wazzeer supports you throughout your journey as an entrepreneur. Log in to get things done efficiently. A dedicated Account Manager offers the required human touch and acts as an advisor to you.

  • Experienced professionals

    Our professionals have at least 5 years of experience and have incorporated thousands of companies among them. The rich experience ensures that the process is smooth and right in the first go.

  • Defined process

    Over the last few years, doing over 500 incorporations, we have defined every step of the process. A virtual process is in place enabling us to deliver hassle free experience for you.

  • Cost Effective

    You pay what you see in the proposal. No surprises or hidden charges.

Frequently Asked Questions

In order to register a Singapore Company one must provide a local Singapore address as the registered address of the company. The registered address must be a physical address. A local physical address proof in Singapore, like: Residential addresses, business addresses. To use residential address as a proof you need get approval from Housing Development Board. The registered address cannot be a PO Box.
You can invest as low as S$1, but if you as a foreigner wish to relocate to Singapore under the Singapore Entrepreneur Pass scheme then you are required to invest a minimum sum of S$50,000 as paid-up capital at the time of company incorporation. There is no concept of Authorized Capital for Singapore Companies
A minimum of one resident director (a resident is defined as a Singapore Citizen, a Singaporean Permanent Resident etc.) is mandatory. There is no limit on number of additional local or foreign directors a Singaporean Company can appoint. Directors must be at least 18 years of age and must not be bankrupt or convicted of any malpractice in the past. There is no requirement for the directors to also be shareholders. I.e. non-shareholders can be appointed as Directors
A Singapore Private limited company can have a minimum of 1 and maximum of 50 Shareholders. A Director and Shareholder can be the same or a different person. The shareholder can be a person or another legal entity such as another company or trust. 100% local or foreign shareholding is allowed. New shares can be issued or existing shares can be transferred to another person any time after the singapore company has gone through the incorporation process
In order to act as a company secretary for a Singapore company, the person must be:
  • A natural person;
  • A Singapore resident (i.e. Singapore citizen, Singapore Permanent Resident, or a foreigner who has been issued with an Employment Pass or Dependent Pass); and
  • A person who is knowledgeable about the Singapore Companies Act. (S)he must also possess the requisite experience to fulfill the role of a company secretary.
A Singapore registered company must keep and maintain records for a period of at least five years after the completion of the transactions or operations to which they relate.
If your business falls under the licensing category, you may need to secure a license from relevant government agencies before you start any business transaction.
Employing a specific number of employees is not mandatory. Many foreign companies operate their Singapore operations without employee operating from Singapore. Companies can employ foreign staff, provided that they comply with the requirements set forth by relevant government agencies. Foremost among these requirements is securing work passes appropriate to the role that the foreign employee will perform, complying with CPF regulations and payment of levies where appropriate.
The Registrar will reject a proposed name if that name is:
  • identical to another;
  • undesirable; or
  • of a kind the Minister has directed the Registrar not to accept.
Registrar has the discretion to direct you to change your company name if another company or business lodges a valid complaint within 12 months that your name resembles their company’s or business’s and/or is likely to be mistaken for it.
You may wish to close the company for various reasons. However, closing a company in Singapore is a very complex and time-consuming process, requiring you to comply with a myriad of necessary legal and statutory requirements.
Strike-off is a commonly used and less complex option for closing a company. To strike-off a company, the company must not carry on business and be able to satisfy the following criteria
  • The company has not commenced business since incorporation or has ceased trading
  • No existing assets and liabilities as on the date of application
  • The Shareholder(s) have provided written consent to the striking off application
  • The Director(s) agree and consent the striking off application
  • The company has submitted the latest unaudited Balance sheet
  • No outstanding tax liabilities with IRAS
  • No outstanding Employers’ CPF contribution owing to CPF Board
  • No outstanding debts owed to any other Government Agency
  • No outstanding charges in the charge register
  • The company is not involved in any legal proceedings (within or outside Singapore)
If the company has submitted its last accounts, the accounts should have no assets and liabilities. However, in case accounts show that the company has assets and liabilities the company should provide documentary evidence to show that the assets have been disposed off and that the liabilities have been settled or waived

Still have doubts?

Get started

Drop us a note with basic details. You will receive a call from us.