What is a Private Limited Company?
A private limited company is limited by shares and is a separate legal entity from its shareholders. It is recognised as a taxable entity in its own right. As a result, shareholders of a Singapore private limited company are not liable for its debts and losses beyond their amount of share capital.
The key requirements to register a private limited company in Singapore are as follows:
- - At least one shareholder (individual or corporate entity)
- - One resident director
- - One company secretary
- - Initial paid-up share capital of at least S$1
- - A physical Singapore office address
Documentary Requirements for Singapore Private Ltd Company Registration
So, the considerations and documents you will need for company incorporation in Singapore are:
Company name
Choosing this cleverly is important for brand-building. Try to include your business activities in the name itself for this purpose. It’s also advisable to check whether your chosen company name matches an available domain name, as a suitable web address is must for increasing business these days. Whether to go for .sg, .com, .org or any other extensions will depend on your target market.
Description of business activities
Use the Singapore Standard Industrial Classification Code (SSIC) 2010 to select the business activities your company will be engaging in.
Shareholding pattern
When a Singapore Private Limited Company is formed, it must issue one or more subscriber shares to its initial members.
It may increase capitalisation by issue of further shares. The issued share capital of the company is the total number of shares existing in the company multiplied by the nominal value of each share.
A Singapore company can be registered with a minimum paid up capital of S$1 (or its equivalent in any currency). Paid-up capital is essentially the portion of share that the company has issued and received payment for in full.
Read more on how to Form a Singapore Private Limited Company at Singapore Company Incorporation.
