Registering a New Company in Singapore
Singapore is gaining traction in being known as a ‘Startup Hub’ for having Business-Friendly Policies, Double Taxation Avoidance Agreements, Public Infrastructure and Stable Politics. If you understand the fundamental steps to incorporate your company, starting a new business and having it setup can be a smooth and quick process.
There are many options that exist, each business structure is unique and should be chosen based on your business needs and approach.
Private Limited Company
○ General Partnerships
○ Limited Partnerships
○ Limited Liability Partnerships
○ Charitable Trust
○ Company Limited By Guarantee
Foreign Company Registering in Singapore
○ Subsidiary Office
○ Branch Office
○ Representative Office
For a more comprehensive breakdown and comparison on the different business structures click here.
One of the most popular business structure is a Private Limited Company, which is governed by the Singapore Companies Act and reporting is done with ACRA.
|Requirements||What to note|
|Company Name||Choose and reserve a name, which is approved by ACRA.|
|Director||Must have a minimum of 1 director, who is a natural person*|
|Shareholder||Minimum 1 shareholder|
|Company Secretary||Must have a minimum of 1 company secretary, who is a natural person*
and has requisite experience, academic and professional qualifications.
|Paid-up Capital||Minimum S$1|
|Registered Address||An office address is required.|
*A natural person refers to somoene who is a Singapore resident, Permanent Resident or holding an EP pass.
** This business structure is meant for Private Limited Companies.
Upon incorporating, you can open a bank account. You can choose from a variety of local as well as international banks.
For a breakdown and comparison on the banks available, for your business click here.