Requirements to start a Singapore company
Because a private limited company is the most commonly chosen business entity, below are the requirements to register a private limited company in Singapore.
In order to *register a private limited company in Singapore you will need:
- - Local corporate secretary
- - Minimum of 1 shareholder
- - Minimum of 1 Resident Director
- - Minimum of SGD 1 paid-up capital
- - A registered Singapore address
The ACRA will send an Incorporation Email to you once your registration has been successful, this can serve as your Incorporation Certificate.
*Please note that you will not be able to register your company on your own. You will need an authorised filing agent or professional corporate service provider to help you set up your company in Singapore.
How long does it take to register a Singapore company?
The registration process will take one day if all the documents are signed and ready.
Why choose Singapore?
In Hong Kong, the process might be a hassle because of the need to sign documents in person. However, in Singapore, it is completely different! All you need to do is to gather all the relevant documents and sign them online.
Additionally, foreign companies benefit from the following, in Singapore:
- - Taxes are low
- - 100% ownership by foreigners.
- - The registration process takes only about an hour.
What Singapore Business Entities are there?
The main business entities that are available in Singapore are:
- - Limited Liability Partnership (LLP)
- - Company Limited by Guarantee
- - Sole Proprietorship or Partnership
- - Private Limited Company (Pte Ltd)
Ideally, a private limited company is the preferred structure opted by foreigners when setting up a company in Singapore.
Answer these questions before choosing the business structure that suits your requirements:
- - How much capital investment is required?
- - What are the pros and cons of all the business structures?
- - How many owners will be a part of the business?
- - Is it easy to end the business entity?
- - What is the tax policy under different entities?
- - Will I be okay to be personally liable?
Read more on how you will be able to start a foreign company in Singapore at Singapore Company Incorporation website.
