What Are The Basic Requirements To Incorporate A Singapore Company

By Author: Shayne Hughes
Total Articles: 108
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Singapore is sometimes referred as the little red dot, but the emergence in the country is a total opposite of that description because Singapore is mostly known as a country that offers a world-class living environment. Singapore is a busy cosmopolitan city with a landscape of high-rise buildings and gardens.

One interesting aspect of Singapore is its vibrant multicultural experience where there is a collage of different cultures. Some of these people are visitors, some are professional workers and some are businessmen and investors.

Now, we will be discussing how we can help businessmen and investors to incorporate a Singapore company, since these people are great contributors to Singapore's established and secure economy.

These are the basic requirements needed to incorporate a Singapore company:
1. Anyone (a local or a foreign person) can register a new Singapore company
2. 100% foreign ownership allowed
3. Minimum paid-up capital of $1 only
4. Concept of authorized capital no longer exists
5. Minimum of 1 director and 1 shareholder required
6. At least one director ...
... must be a local resident director (Singapore citizen, permanent resident, or EP/DP holder)
7. Must have a local registered address
8. Must have a local qualified company secretary

We have also prepared a brief description on the basic considerations for incorporation:
1. Company Name. The name must be approved before incorporation of the Singapore company can occur.
2. Directors. A minimum of one resident director is mandatory. There is no limit on the number of additional local or foreign directors a Singapore Company can appoint. Directors must be at least 18 years of age and must not be bankrupt or convicted for any malpractice in the past.
3. Shareholders. 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 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.
4. Company Secretary. As per Section 171 of the Singapore Companies Act, every company must appoint a qualified company secretary within 6 months of its incorporation. The company secretary must be a natural person who is ordinarily resident in Singapore.
5. Paid-up Capital. Minimum paid-up capital for registration of a Singapore company is S$1. Paid-up capital (also known as share capital) can be increased anytime after the incorporation of the company. There is no concept of Authorized Capital for Singapore companies.
6. Registered Address. In order to register a Singapore company, you must provide a local Singapore address as the registered address of the company. The registered address must be a physical address (can be either a residential or commercial address) and cannot be a PO Box.
7. Taxation. Singapore registered companies enjoy very attractive tax exemptions and incentives. This is one of the key reasons entrepreneurs from around the world prefer to form a company in Singapore.

Rikvin has been assisting clients from all over the globe in their Singapore immigration and company incorporation matters. Rikvin operates to offer assistance both to local and foreign business professionals to incorporate a Singapore Company. The firm provides a complete corporate solution under one roof for which includes incorporation, opening of corporate accounts, business registration, tax, immigration related to work passes visa and compliance services in Singapore. The firm has also helped encourage foreigners to register a Singapore company.