1. Incorporation of Singapore Company
Singapore company incorporation
As a legal entity registered under the Singapore Companies Act, it is possible for a company
to sue and be sued in its own name. It is also able to own or hold any property.
The sizeable number of advantages such as limited personal liability and tax advantage make
a private limited company the most preferred form of business entity in Singapore.
For instance, for the first 3 years of assessment, the first S$100,000 of the chargeable
income, is tax exempted. After exemption, the company chargeable income is taxed at
corporate tax rate of 17%.
To incorporate a Singapore company, the following information is required:
-Name of Proposed Company
-Singapore-registered office address
-Minimum initial paid-up share capital is S$1
-Minimum 1 Shareholder
-At least 1 Local Director
-1 Company Secretary
-Passport/IC of Shareholder (s) and Director (s)
-If the Shareholder (s) or Director (s) are foreigners, a proof of foreign residential address is
required (a copy of recent utility bills or residential telephone fixed line bills, driving license or
other documents that proof the validity of residential address)
Corporate secretarial services
It is required for every company to appoint a qualified company secretary within 6 months
of its incorporation. In addition, in case of a sole director/shareholder, the same person will
not be allowed to act as the company secretary. The company secretary must be a natural
person who is ordinarily resident in Singapore.
The scope of Company Secretary includes:
-Preparation and maintenance of resolutions and minutes in respect of opening of bank
accounts, changes in the officers of the Company etc.
-Preparation and maintenance of minutes of general meetings in respect of the annual
-Preparation and filing of the statutory returns to be lodged with the Accounting & Corporate
Regulatory Authority (“ACRA”).
-Custody and maintenance of the Company’s statutory registers, minute books and other
-Custody and use of the Common Seal.
-Regular updating of minutes books and statutory registers.
Provision of director and shareholder nominee services
The Singapore Companies Act has made it mandatory to have at least one resident director
who must be either Singapore citizen, Singapore Permanent Resident, or EntrePass/
Employment Pass holder with a residential address in Singapore.
Some useful information to note:
-Singapore Companies Act does not allow corporate Directors
-Non-shareholders can also be appointed as Directors
-A director and shareholder can be the same person
-Details of Directors will appear on public records
-The appointed director must be at least 18 years of age and not be bankrupt or has prior
record of malpractice
The Singapore Companies Act allows a private Company limited by shares to have a
maximum of 50 shareholders.
Some useful information to note:
-Shareholder can be either an individual, or a corporate entity
-The director may also be the shareholder
-100% local or foreign shareholding is allowed
-Details of shareholders will appear on public records
-Company shares can be issued or transferred to individuals, or corporate entity, any time
after the Singapore Company has been incorporated.
Once your company is incorporated, there are two options through which you can secure your
corporate privacy; you may either act as a shareholder yourself or we can provide you with a
Opening of bank account
Upon successful company incorporation, you can open a corporate bank account with any
of the major banks in Singapore. You should also explore the features and facilities offered
by different banks and make a balanced decision on the bank that best meets your business
needs. When engaging the chosen bank, you will need to prepare your company’s M&A and
bizprofile. Some banks, however, may require further documentation such as bank reference
and proof of residence depending on cases.
Provision of registered address
In order to register a Singapore company, you must present a local Singapore address as the
registered address of the company. The registered address must be a physical address and
cannot be a P.O. Box.