Company Registration in Singapore

Company Registration Requirements in Singapore


Primary Requirement for Singapore Company Registration

  • Atleast One Local or Foreign Shareholder
  • Paidup Capital atleast S$1
  • One Singapore Resident Director
  • A Registered Office Address in Singapore
  • A Singapore based Company Secretary 
  • Company Name Approved by ACRA
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Process of Company Incorporation in Singapore

Singapore offers a highly conducive environment for companies that are looking at new opportunities in the Asia region. Its robust regulatory framework, coupled with a stable political and economic structure, pro-business government and a well-established judicial system, have created the ideal platform for investment and made it a major commercial, financial- and wealth management hub. Singapore is recognised for its high government efficiency and competitiveness while its robust legal and regulatory regimes make it the most transparent country in Asia. The World Bank and other organisations consistently rank Singapore as the easiest place to do business worldwide. In addition, it has a highly educated and skilled workforce that speaks excellent English as well as multiple Asian languages.

With one of the lowest corporate tax rates in the region (17%), on top of a host of other tax schemes and incentives, Singapore is one of the best countries in Asia from which to grow a business. Corporate tax on foreign-sourced dividends, foreign-sourced branch profits and foreign-sourced service income into Singapore can be minimised, if not completely exempted, provided certain conditions are met. With over 80 double tax treaties, Singapore has one of the most comprehensive networks in the world. Singapore residents can therefore benefit from reduced rates of withholding tax on the repatriation of profits from cross border investments. The absence of tax on capital gains and the lack of withholding tax on dividend payments to non-residents makes setting up a company in Singapore an excellent solution for a holding company for cross border investments.

Process of Company Incorporation in Singapore

  • Step 1: Company Name Approval First step is to get the company name approved from ACRA. Name Approval fee is S$15.

    The name approval is a simple online procedure and the company name is subject to the following guidelines:
    # The name cannot be identical to an existing business in Singapore
    # The name must not infringe on any trademarks
    # The name cannot be obscene or vulgar
    # The name must not have been reserved by another company

    Key facts to keep in mind for the name approval process:
    # If a company name follows ACRA’s rules, it is typically approved in less than an hour.
    # A name may be referred to another government authority for further approval if it contains certain regulated business words such as “finance”, “legal”, “law”, “broker” or “school”. This can delay the name approval process by few weeks.
    # Once approved, a company can reserve the name for up to 120 days. If it does not incorporate the name within that period, the name is released and can be reserved by another person.
  • Step 2: Documents Preparation After the name approval and before applying for company registration, a company must get the incorporation documents ready.

    Documents required by ACRA:
    # Company Constitution, previously known as Articles of Association. # You may decide to adopt the standard Singapore company constitution as available from ACRA, which is acceptable for most companies and consists of terms that are considered to be fair for all parties involved in the incorporation
    # Signed Consent to Act as a Director for each director
    Signed Consent to Act as Company Secretary by the company secretary
    # Identification and residential address details for each shareholder and officer of the company

    In compliance with the international AML regulations, your Corporate Service Provider (CSP) is required by ACRA to conduct a Know Your Customer (KYC) due-diligence and will typically require at least the following supporting information:

    # Verification of identification and address proof documents
    # The professional background of stakeholders and officers of the proposed company
    Note that the exact list of required documents may vary from CSP to CSP based on their internal procedures.

    Note: All documents must be in English or officially translated into English.
  • Step 3: Registration Once the incorporation documents have been prepared, a company can be officially registered with ACRA. The registration process is conducted online and takes less than an hour. In rare cases, if the company registration has to be referred to another government agency for further vetting, the process can take few weeks.

Documents Requirements for Company Registration in Singapore

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