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Singapore is widely recognised as one of the easiest places in the world to start a business. However, certain statutory requirements must be fulfilled before a company can be incorporated.
Minimum Requirements
To register a Private Limited Company in Singapore, the following requirements must be met:
- At least one shareholder
- At least one resident director
- A company secretary within six months
- A registered office address in Singapore
- Minimum paid-up capital of SGD1
These requirements are mandated under the Singapore Companies Act.
Resident Director Requirement
Every Singapore company must appoint at least one director who is ordinarily resident in Singapore. This can be:
- Singapore citizen
- Singapore permanent resident
- Employment Pass holder
- EntrePass holder
Foreign entrepreneurs who are not residing in Singapore may appoint a nominee director to meet this requirement.
Shareholders
A Singapore company may have between 1 and 50 shareholders, who may be individuals or corporate entities.
Foreigners can hold 100% of the shares.
Company Secretary
A company secretary must be appointed within six months of incorporation. The secretary is responsible for ensuring regulatory compliance with ACRA.
Registered Address
Companies must maintain a local registered address where official notices from government agencies can be delivered.
Conclusion
Meeting these incorporation requirements ensures the company operates legally and complies with Singapore’s corporate regulations.