Company Incorporation Guide: Incorporate A Singapore Company

By Author: Chard Smith
Total Articles: 1
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The emergence of the country as a world-class environment with busy cosmopolitan city and a landscape of high-rise buildings and gardens refute the statement that Singapore is the "little red dot" The spirited multicultural experience where there is a collection of different cultures is one interesting aspect of Singapore. The people that composed the lively multicultural experience are visitors, professional workers and businessmen and investors.

Since businessmen and investors are great contributors to Singapore's established and secure economy. We will be discussing how we can help them to incorporate a Singapore company.

The basic requirements needed to incorporate a Singapore company are the following:

1. Anyone (a local or a foreign person) can register a new Singapore company
2. Full ownership of a foreign individual is allowed
3. Minimum paid-up capital of $1 only
4. The thought about an authorized capital is no longer existent.
5. A minimum of 1 director and 1 shareholder is required
6. A minimum of one director is needed and who must be a local resident director (Singapore ...
... citizen, permanent resident, or EP/DP holder)
7. Possess 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. It is required to have at least one resident director. There is no limit on the number of additional local or foreign directors a Singapore Company can appoint. In order for directors to be eligible he must be at the minimum age of 18 years and must not be undisclosed bankrupt or convicted of any illegal practices in the past.
3. Shareholders. A minimum of 1 and maximum of 50 shareholders are needed for a Singapore private limited company. The director and the shareholder can be the same or different person. Also, the shareholder could be an individual or another legal entity like another company or trust.100% local or foreign shareholding is allowed.
4. Company Secretary. Every company must appoint a qualified company secretary within 6 months of its incorporation according to Section 171 of the Singapore Companies Act. In order for the company secretary to be eligible he/she must be a natural person who is a current resident of Singapore.
5. Paid-up Capital. At least S$1 is the paid-up capital of a Singapore company registration. Paid-up capital (also known as share capital) can be increased anytime after the incorporation of the company. The general idea of an Authorized Capital for Singapore companies are no longer existent.
6. Registered Address. For a company to be registered in Singapore, one must provide a local Singapore address as the registered address of the company. Aside from not being a PO Box, the registered address must be a physical address which is either a residential or commercial address.
7. Taxation. Singapore registered companies has been enjoying 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.

Resource Box:

Asiabiz is the leading Singapore Company Incorporation Solutions Specialists. It has successfully helped foreign entrepreneurs Incorporate a Singapore Company. Our office is located at Raffles Place, in the heart of the Singapore business district. ("CBD") If you're in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours for advise and consult.