Needed Documents To Register A Singapore Company with Rikvin
The most common type of company to be incorporated in Singapore is the Private Limited Company. 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.
A Zero tax is charged on new start-up companies on the first S$100,000 of chargeable income for the first three consecutive years. A further 50% exemption is given on the next S$200,000 of the chargeable income.
Setup Requirements for Singapore Company Registration
- 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
Facts you need to know before Incorporation:
Company Name: Before you can incorporate your Singapore Company the company name must first be approved by ACRA. ACRA will reject a proposed company name for the purpose of incorporation if:
It is identical to another existing Company Name
It is undesirable
Names or trademark which are similar to established names such as Coca Cola and Temasek
Shareholders: A new company is required to have at least one corporate or individual shareholding. A director and shareholder can be the same or different person. Also, 100% local or foreign shareholding is allowed. According to the Singapore Companies Act, a Singapore Private Limited Company can have a minimum of one and a maximum of 50 shareholders . Details of shareholders will appear on public records.
Resident Directors: At least one director is required for a Singapore Private Limited Company, and he must be an “ordinarily” resident in Singapore, which means a Singapore citizen, a Singapore permanent resident or an Employment Pass/Entrepass or a Dependants’ Pass holder with a residential address in Singapore.
There is no limit on the number of additional local or foreign directors a Singapore Private Limited Company can appoint. To be a director, he must be at least 18 years of age, and must not be bankrupt or have no previous conviction for any criminal malpractice. Information of the directors will appear on public records.Directors can also be shareholders or vice versa.
Company Secretary: To be a company secretary, one 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: A S$1 or its equivalent in any currencies is the minimum paid-up capital for registration of a Singapore company. 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. A physical address is required for a registered address and so a PO Box is not a valid registered address. 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. The Memorandum contains the activities that can be engaged by the company while the Articles of Association specifies the rules governing the internal management of the company.
Rikvin has effectively facilitated to register a Singapore company, and company registration services for both non-resident and resident financiers build business firms in Singapore.
Incoming calls in our phones are answered by live persons and not by an answering machine. We recognize the importance of your time and we are aware that technology cannot replace a person most especially, when we need to make vital business moves. If you are interested in learning more about Rikvin’s Services kindly email us at info@rikvin.com or give us a call at +65 64838887.
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