Company Registration in Singapore

Company is by far the best and more preferred choice of entity for business. In case of a company a separate legal entity is formed which is distinct from its owners. Unlike sole proprietorship, a company can have multiple owners.

All the owners or shareholders have limited liability up to the share capital they have contributed. A company’s life doesn’t depend upon the life of its owners’ or directors’. It has perpetual succession and continues to run even when its owners die or become incapacitated.

In Singapore, any natural person of 18 years and above, regardless of him being local or foreigner, can register a company. People prefer to register private limited liability companies. Companies are governed by Singapore Companies Act.

Pre-registration information

Before you register a company you need to know certain facts that will make your registration process easier.

• First, you need to have a name for the company which must be approved before the incorporation process begins. The name must be as per the rules of ACRA (Accounting and Corporate Regulatory Authority).

• Secondly, you need at least one director who is a ordinary resident of Singapore. The director chosen must be a major with no criminal record. The director may or may not be a shareholder.

• Thirdly, you’ll need at least one shareholder. A private limited company cannot have more than 50 shareholders and there is a restriction on transferability of shares. A shareholder can either be an individual or an artificial person like another company.

• Fourthly, appointment of a company secretary is mandatory under Section 171 of the Act. Such a person must a qualified company secretary and an ordinary resident. In case of a sole director or shareholder, company secretary must be a different person.

• In Singapore, a company must have a minimum paid-up capital of $1 at the time of incorporation. It can be increased anytime post-registration.

• The registered office of a company must be at valid physical address situated locally not a PO Box no. or an address outside Singapore.

• Corporate tax in Singapore is 17%. Although for start-ups and newly registered companies, there are various tax incentives and exemptions offered by tax authorities.

 Documents required for company registration

• For company registration in Singapore you must have a name of the company, constitution of the company, address proof of its registered office, details and government issued IDs of directors, shareholders and company secretary. In case the shareholder is a company then its copy of certificate of incorporation and constitution.

Registration process

• Business registration in Singapore is simple as the Registrar of Companies has made the whole incorporation system electronic. It takes about a couple of days to complete the registration process.

• The first step is to get the proposed name of the company approved and reserved. The application for approval is to be filed with the Registrar. It takes about an hour to get approved post which the company registration process can begin.

• The delay takes place if the proposed name is similar to an existing one, is vulgar or obscene, infringe upon trademark already registered or in process or if it’s already reserved by someone else. A name once approved remains reserved for a period of 60 days from the date of application.

The second step is company registration which too can be completed in a few hours if all the incorporation documents are in place and duly signed by proposed directors and shareholders. They must be submitted along with an incorporation fee of $300 to the Registrar of Companies.

An official intimation is received in form of e-mail carrying Certificate of Incorporation on successful completion of registration process.