Singapore Company Incorporation
As a start-up entrepreneur, you must ensure that your chosen corporate entity is set up properly and in a timely manner by seeking incorporation services to protect yourself from business liabilities.
You can choose to register a private limited company, a limited liability partnership, a general partnership, a sole proprietorship or a branch office.
The most typical and widely used business form in Singapore is a private limited company.
What Are The Prerequisites For The Incorporation Of Company In Singapore?
Company incorporation in Singapore is a straightforward and less complicated process. However, before setting up a new business in Singapore, an important decision is to decide what legal form your business will take and the right company to engage. There are different types of business entities with unique features in Singapore and each is subject to annual regulatory compliances and different tax rates based on their entity structure.
Before applying to the Company Registrar of Singapore (ACRA), you need to be ready with the following pre-incorporation requirements.
- A minimum of one Shareholder
- Initial Paid-up Capital of at least S$1
- A minimum of one Company Secretary
- At least one Local or Resident Director
- The company office must be a registered local address
Company Incorporation Services In Singapore For Foreigners
There are three options foreigners can select to set up a company in Singapore:
- Option 1: Private Limited Company + Employment Pass
- Option 2: Private Limited Company + EntrePass
- Option 3: Appoint a Local Nominee Director
Most foreigners usually go for Option 1 because the application process and requirements for an Employment Pass is less demanding compared to an EntrePass. However, it’s advisable to consult a reputable professional company providing incorporation services like Tianlong to steer your company in the right direction from the get go with respect to complying with all statutory requirements for incorporation of company in Singapore.
ACRA dictates that for foreigners to incorporate a company in Singapore, they need to appoint a local director. However, you can own 100% shareholding in the company and/or be a foreign director of your company after the Singapore company formation.
Company Incorporation Services In Singapore For Local Residents
If you are a Singaporean, the incorporation process for your company is relatively easy and direct. Singapore citizens and permanent residents can act as the local directors of their companies rather than hiring someone else to take up the position. As you submit the required documents to ACRA, you must also include 3 company name options along with other specific pre-incorporation requirements to fulfil.
As an important incorporation document, you need to submit a copy of your Singapore ID to ACRA accompanied by your application to set up your business. As Singapore residents, you can choose to register a Private Limited Company, Singapore Exempt Private Company (EPC), a Sole Proprietorship, a Limited Liability Partnership, Limited Partnership, or General Partnership to further your business goals.
There are two key procedures that dictate the length of time required to incorporate your company in Singapore:
- Company Name Approval from ACRA: ACRA requires approval for the name of your proposed company because the agency wants to maintain uniqueness in company names. The names you provide will be checked against the ACRA database and if they are available, it will only take 15 mins to reserve your most preferred name.
- Application to ACRA for Company Setup: It takes only 1-3 days for the successful incorporation of the company. However, if the application gets referred to the higher authorities, you may need to wait up to 2 months.
Our Complete Singapore Company Incorporation Package Comes with the following:
- ACRA Private Company Registration Fee
- Company name application
- Company business profile
- Company Constitution
- Company Secretarial Services
- Bank introduction and opening services
- Common seal and Self-Inking Rubber Stamp
- Company Memorandum & Articles of Associations
- Share Certificates made to shareholders
- E-certificate of incorporation from ACRA
- Minutes of first board meeting
- Share certificates
- Business consultations
- Printing and stationery cost
Why Choose Us
Our personalised Singapore company incorporation package has won many positive clients’ feedback. We at Tianlong Services can help you incorporate your company in Singapore with speed, ease and value. We deliver high quality services at competitive rates. In addition to our commitment to providing transparent and prompt services at competitive pricing, your Singapore private company registration has never been easier. Contact us today!
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You will get a month’s worth of bookkeeping. Whether or not you continue with us, your reports for the month are yours to keep.