A Guide On How To Register A Singapore Company

By Author: Frank Diggs
Total Articles: 1
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Compared to other countries, forming a new company or incorporating an existing business is usually more convenient and faster in Singapore due to its efficient and computerized business registration process. In fact, most businessmen can incorporate their company in just a few days in the city-state, or an average of three days.

While entrepreneurs can incorporate their company by themselves, the Singapore government advises them to hire the service of a professional business registration firm or law/accounting firm if they are unable to provide all the company registration requirements.

A Guide on How to Register a Singapore Company

For entrepreneurs who want to hire a professional firm that will assist them during the incorporation process, they should provide the following certificates and documents:

* Company Name. The name should be unique, does not suggest vulgarity or indecency, and does not violate the trademark of other established entities (e.g., Coca-Cola and Temasek).

Meanwhile, the government has also banned certain words and phrases as a company name.
* Brief Description ...
... of Business Activities. Generally, this should include the products and services to be offered, scale of operation, nature of business, and other basic information about a company.

* Directors and Shareholders Particulars.

* Registered Office Address. This should be a physical address and not a PO Box. This place is where the authorities send their notification letters to a company and also where businessmen keep the statutory records of their company. In case that it is a residential instead of a commercial address, a company should seek the permission of the Housing and Development Board or the Urban Development Authority.

Singapore Companies Act and Its Provisions

The Act requires a company to have at least one shareholder and one resident director who may be a Singaporean citizen, permanent resident, or foreign individual who has Singapore Employment Pass, EntrePass, or Dependant Pass.

Meanwhile, there is no limit on the number of additional directors who may be a local resident or foreign businessman from abroad.

When it comes to the number of shareholders, the Act allows one to 50 individuals or corporate entities regardless if they are local or foreign. (In an effort to attract international businesses, Singapore allows 100 percent foreign ownership as long as the entrepreneurs or companies will assign at least one resident director.)

A foreign businessman may also be the shareholder and resident director at the same time as long as he will apply for EntrePass or Employment Pass.

Resource Box:

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