Rules For Incorporating A Foreign Owned Company In Singapore

By Author: Bryan Wong
Total Articles: 11
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Due to the numerous advantages of doing business in Singapore along with the growth opportunities available, several foreign companies as well as individual entrepreneurs have been rushing to the country to register a business. Singapore is one of the few nations around the world that allow 100 per cent foreign ownership in companies incorporated in the country. There is no requirement of having a local partner or having to reside in Singapore to setup and manage a business. However, there are a few rules that foreign entrepreneurs must follow to incorporate a company in Singapore.

1) The primary rule for registering a business in Singapore for foreign owners is to employ the services of a local incorporation service provider. Foreign companies cannot initiate the company registration process on their own. They must use a professional incorporation service company to interact with the company registrar in Singapore in order to complete the incorporation procedure.

2) All companies based in Singapore must have at least one locally residing director. If the foreign entrepreneur is already residing in Singapore, ...
... then they can act as the sole local director. However, if the company owner is not in Singapore and wants to go ahead with their company registration, then they have to utilize the services of a nominee director. The nominee director is someone currently residing in Singapore as a citizen, permanent resident or someone who holds a valid employment visa.

3) Before you can go ahead with the company registration process, you need to obtain a registered business address in Singapore. This address needs to be used during registration as the official business address of your Singapore Company. The address cannot be a PO Box and all communications from the concerned authorities in Singapore will be sent to this address.

4) The foreign entrepreneur must submit the particulars of each of the directors and shareholders of the Singapore Company. Directors must also be above the age of 18 and must not be involved in any kind of malpractice or fraud in the past.

5) The foreign company must get their proposed company name approved by the company registrar before proceeding to the actual registration procedure. Company names are usually approved within an hour of applying as long as it does not infringe on existing trademarks or does not contain any word that is deemed as vulgar or obscene.

6) All companies in Singapore must appoint one company secretary who has to be residing in Singapore. The company secretary is also responsible for the ongoing compliance requirements of the company in Singapore.

Author Bio
Bryan Wong is a business analyst in the Asia-Pacific region and in his free time writes business articles. In this article, Bryan talks about Singapore company incorporation agency and Singapore company registration.