Basic Information: Forming A Singapore Company

By Author: Robert Sparks
Total Articles: 68
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An incorporated Private Limited Company in Singapore is the most popular business entity available through ACRA. It is a type of private company limited by shares and registered with Accounting & Corporate Regulatory Authority (ACRA) under the Singapore Companies Act. A Singapore Private Limited Company has a separate legal entity from its shareholders, and therefore they are not liable for the debts and losses of the company.

Below are the common requirements for Singapore company setup of Private limited company:
• Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary
• Minimum initial paid-up share capital is S$1
• Singapore Company must have a Singapore registered office address
• Company Name: The company name must be approved by ACRA before the Singapore Company can be incorporated.
• Shareholders: A minimum of at least one corporate or individual shareholding is required. A director and shareholder can be the same or different person. 100% local or foreign shareholding is allowed.
• Resident Directors: Singapore Private Limited Company must have ...
... at least one director who must be an "ordinarily" resident in Singapore, which means a Singapore citizen, a Singapore permanent resident or a person who holds an Employment Pass/Entrepass or a Dependants' Pass with a residential address in Singapore.
• Company Secretary: The company secretary must be a natural person who is an "ordinarily" resident in Singapore. Singapore Companies Act requires companies to each appoint a company secretary within six month of incorporation.
• Share Capital/Paid-up Capital: The minimum paid-up capital for registration of a Singapore company is S$1 or its equivalent in any currencies. The minimum issued capital is one share of par value. "Bearer" shares or "No par value" shares are not permitted. The Share or paid-up capital can be increased anytime after incorporation of the company.
• Registered Address: Every company registered in Singapore is required to have a registered office address. The registered address must be a physical address and cannot be a PO Box. Use of residential address is allowed for certain types of business.
• Memorandum and Articles of Association: Memorandum and Articles of Association must be lodged with ACRA. Memorandum specifies the activities in which the company may engage whereas the Articles of Association specifies the rules governing the internal management of the company.

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