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FAQ’S

What documents are needed for Singapore Company Registration?

This might vary depending on the situation but the general requirements are:

  1. Company Name
  2. Registered Address
  3. A Description of Business Activities
  4. Shareholders Particulars
  5. Directors Particulars
  6. Company Secretary Particulars
  7. Memorandum and Articles of Association (MAA).
  8. A copy of Singapore identity card (IC) for Singapore Residents or a copy of passport, overseas residential address proof, and other information for foreigners.
  9. If the shareholder is a corporate entity, you need to submit a copy of registration documents such as Certificate of Incorporation and Memorandum & Articles of Association.
  10. For non-English documents, an officially-endorsed translated version is required.

What is the minimum time required before I need to appoint a Company Secretary?

You will be required to have a company secretary within six months of its incorporation.

Does a Singapore company require a local resident director?

Singapore Private Limited Company must have at least one director who must be a resident in Singapore, i.e. either a Singapore citizen, Singapore permanent resident or a person who holds an Employment Pass/Entrepass/ Dependant’s Pass with a residential address in Singapore.

The director must be at least 18 years of age, and must not be bankrupt or convicted for any criminal malpractice in the past. Information of the directors will appear on public records. Directors can also be shareholders and vice versa.

Is there a minimum age requirement for directors and shareholders of a Singapore company?

The minimum age requirement is 18 Years old.

Am I required to be present in Singapore to incorporate my company?

No, when you contract our services, we will provide the means necessary to settle the incorporation process on the Singapore side. We will simply need to liaise with you from wherever you are.

What is the minimum paid up capital requirement for a company in Singapore?

A Singapore company can be registered with a minimum paid up capital of S$1 (Or its equivalent in any currency). This capital may be used immediately and you will be able to increase this paid-up capital at a later date if you wish.

After incorporation, what are the issues that I should bear in mind when moving forward?

After your Singapore company has been setup, you can start your business activities immediately. However, you may need to do the following if it is applicable to you.

  • Open a corporate bank account. There are many different banks that you may register with so look for one with services that suit your needs.
  • Note that the operating of certain businesses requires licenses, so do ensure that these licenses have been applied for. We will be able to advise you on this if you require.
  • Bear in mind that once your annual turnover crosses the $1million mark, you will be required to register for GST.
  • The employment of foreign employees will require you to obtain the relevant employment passes. Should you require this, you may contact us to facilitate the process.
  • Regarding local employees, you will need to open up a CPF account for them. For more information, do check the CPF website at: www.cpf.gov.sg
  • You are required to settle on a date for the financial year end of your company. This date needs to be within 18 months of the incorporation of your company.
  • According to the accounting standards in Singapore, you are required to maintain satisfactory accounts of your business proceedings. If you require these services, we will be able to provide them to you on a monthly, quarterly or yearly basis.

Am I required to make CPF contributions for my foreign employees?

You are not required to make any contributions beyond what the stipulated remuneration is.

How do I find out if the name for my company is available?

Upon your submission of the proposed name, we will process the name reservation with ACRA, which automatically processes the application and responses with an outcome immediately.

In what cases would a chosen company name be rejected?

The name will be rejected if:

  • It is identical to the name of another local company, unless there is some clear distinction (e.g. by trade).
  • It is undesirable, including offensive or vulgar name.

An approved name will be reserved for 60 days from the date of application.

What is the Memorandum and Articles of Association(M&A)?

M&A is the company’s constitution and contains the following information:

  • Name of the company
  • Location of the Registered Office
  • Liability of the members
  • Company’s capital structure
  • Names of the subscribers and the number of shares subscribed by them
  • Principle activities of the company (optional)
  • The rules governing the internal management of the company

* The documents has to be signed by the subscribers before us or a notary public (if signed outside Singapore)

Do I need to provide a consent form to act as a director?

It is not mandatory to have signed consent form to act as a director. It is, however, highly recommended for documentation purpose.

* The documents has to be signed by the directors before us or a notary public (if signed outside Singapore)

What can I expect to receive after I have incorporated my company?

A Personalized Compliance Corporate Kit is issued by ACRA after incorporation of a company, which includes a corporate seal, share certificates, a register etc.

What are the pertinent matters that I have to settle at my first board meeting?

  1. company registration
  2. appointment of the directors, secretary and other officers including auditors
  3. subscription of shares
  4. registered address
  5. financial year end
  6. adopt the common seal & other matters

What documents are needed to open a Corporate Bank Account?

  1. Completed Corporate Account Opening Forms (signed by authorized signatories as per the board resolution)
  2. Board of Directors Resolution sanctioning the opening of the account and the signatories to the account (most of the banks have their own format and you just need to sign it)
  3. Certified True Copy of Certificate of Incorporation (must be certified by the company secretary or one of the directors)
  4. Certified True Copy of Company’s Business Profile from Company Registrar (must be certified by the company secretary or one of the directors)
  5. Certified True Copy of Company’s Memorandum and Articles of Association (MAA) (must be certified by the company secretary or one of the directors)
  6. Certified True Copies of Passport (or Singapore IC) and Residential Address Proof of Directors, Signatories, and Ultimate Beneficiary Owners. If you are in Singapore, just bring the originals and the bank will make a copy.