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  • Singapore Company Registration
  • Author Date Time:2010-03-24 07:17:58
  • Compass Consulting Limited provides professional service to you for Singapore company formation and management. The detail information is as follow.

     

    Overview

    When considering the registration and relocation of your company to Singapore, it is important to keep in mind that most Singapore companies are registered as private limited liability companies (commonly known as private limited companies). A private limited company in Singapore is a separate legal entity and shareholders are not liable for the company’s debts beyond the amount of share capital they have contributed (hence the term limited liability). According to the Singapore Companies Act, any person (foreign or local) above the age of 18 can register a Singapore company.

    A properly structured private limited company in Singapore is a very tax efficient corporate body and hence this form is the most common type of business entity registered in Singapore.

     

    Company name

    The name must be approved before incorporation of the Singapore company can occur.

     

    Registered Capital Paid-up Capital

    Minimum paid-up capital for registration of a Singapore company is S$1. Paid-up capital (also known as share capital) can be increased any time after the incorporation of the company. There is no concept of Authorized Capital for Singapore companies.

     

    Director& Shareholder
    1, Directors: A minimum of one resident director (a resident is defined as a Singapore Citizen, a Singaporean Permanent Resident, or a person who has been issued an Entre pass, Employment Pass, or Dependent Pass) is mandatory. There is no limit on the number of additional local or foreign directors a Singapore Company can appoint. Directors must be at least 18 years of age and must not be bankrupt or convicted for any malpractice in the past. There is no requirement for the directors to also be shareholders, i.e. non-shareholders can be appointed directors. Compass can provide local director to you.

    2, Shareholders: A Singapore private limited company can have a minimum of 1 and maximum of 50 shareholders. A director and shareholder can be the same or a different person. The shareholder can be a person or another legal entity such as another company or trust. 100% local or foreign shareholding is allowed. New shares can be issued or existing shares can be transferred to another person any time after the Singapore Company has gone through the incorporation process.

     

    3, Company Secretary: As per Section 171 of the Singapore Companies Act, every company must appoint a qualified company secretary within 6 months of its incorporation. It has to be noted that in case of a sole director/shareholder, the same person cannot act as the company secretary. The company secretary must be a natural person who is ordinarily resident in Singapore. Compass can provide local director to you.

     

    Registered Address
    The government stipulates that every limited company should have the registered address in UK. The registered address can be provided by Compass Consulting Limited if needed.

     

    Requirements Documents

    1, Confirm Company name, registered capital.

    2, prepare shareholder(s) ID or passport copy.

     

    Registration Process

    Procedure: Fill in the application form→sign the confirmation letter personally→pay the deposit→transact in the government→finish within 10-15 working days→All the director sign the legal document personally→submit the document to Singapore government to file→pay the spare money.

     

    Compass Service

    Compass package services include: Certificate of incorporation; Memorandum and Articles of association of the company; Common seal and atomic seal; Share book; registration address.

     

    Open bank account

    Opening a Business Bank Account for Your Singapore Company

    After successful registration of your Singapore company, you can open a corporate bank account in any of the major banks in Singapore such as HSBC, Standard Chartered, Citibank, DBS, OCBC, UOB, etc. Many of the banks in Singapore these days require physical presence of the company principals as part of the account opening procedure. You should consider the following:

     

    If you are unable to visit Singapore, you should tachoose a bank that allows opening of the corporate bank account without your visit to Singapore.

    If you are able to visit Singapore, you have a wider choice of banks to choose from. In this case, you can explore the features and facilities provided by different banks and decide on the bank that best suits your needs.  

     

     

    CONTACT US

    TEL: 86-20-29050789             Mobile: 86- 18620718759 (24 hours service)  

    MSN: topcompass@hotmail.com     QQ: 859092400