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Services

Corporate Secretarial

What are the requirements to incorporate a Singapore company?

The requirements and facts are as below:

  • A local or a foreign person can register a new Singapore company.
  • 100% of shares can be held by foreign person or Foreign Company
  • Minimum paid-up capital of $1 only which can be increased later, Minimum 1 shareholder required
  • The concept of authorized capital has been abolished
  • Minimum of 1 director and 1 shareholder required
  • At least one director should be a local resident director (Singapore citizen, permanent resident, or EP/DP holder)
  • Should have a local registered address
  • Should have a company secretary

Shareholders

Can a foreign person hold 100% of share capital of the Singapore company?
Yes. Companies Act, Singapore allows 100% foreign shareholding of a Singapore company.

Is there any requirement of Authorised Capital?
The concept of authorized capital is no longer in existence to incorporate a company in Singapore

What is the requirement of minimum amount of paid-up capital?
Minimum Paid up Capital Required to set up a company in Singapore is just SGD 1.

Can paid-up capital be increased later?
Paid up capital can be increase later as and when you desire to do so depending upon requirement of business. We will prepare necessary documents for you to increase it

Directors

How many directors are required for opening a company in Singapore?
Singapore company can be incorporated with a single director.

Can foreigner appointed as a Director?
Companies Act, Singapore allows appointment of foreigner as a Director. However least one of the directors should be a local resident person. A local resident person is a Singapore citizen, permanent resident, employment pass holder, or dependent pass holder.

Being a Foreigner, can I be able to relocate to Singapore to start, manage and run my business?
After incorporating a company in Singapore, you can apply for either Employment pass or Entrepass

We would like to incorporate a Singapore company. Since we don't have a local person in Singapore who can act as the local director. What is your suggestion on handling the local director requirement?
Following are different ways for appointment of Director

  • you can act as the local director once entrepass/employment pass is approved.
  • you can designate any local person to whom you know and willing to act as a Director Alternatively, We can offer nominee Director Services
  • Procedure and requirement of company Incorporation
What is the procedure to set up a Singapore company?
Procedure to set up a company is as under

  • Complete incorporation Forms
  • Passport / IC copies of Proposed shareholders and Directors required
  • Payment of our fees
  • Company name approval
  • Preparation of Incorporation Documents and Signature by Director and Shareholder
  • Incorporation of Company
  • Opening of bank account

Can foreigner currently holding an employment pass and working for a company in Singapore register another company?
you are free to register a company provided you are not prohibited to do so under your employment agreement. To become an employee of your new company, new employment pass is required to be applied and upon approval cancel your existing employment pass.

Company Secretary

What is the requirement of appointment of Company Secretary?
A company must have a professionally qualified company secretary Who should be local person in Singapore.

What are the responsibility of a Company Secretary in Singapore?
Role and responsibility of Company Secretary includes but not limited to following:

  • Change of directors and shareholders, etc.
  • Maintaining statutory register of directors and shareholders
  • Issuing share certificates and maintain records of transfers of shares
  • Maintaining the register of members and debenture holders
  • Preparation and submission of the Annual Returns
  • Filing of documents and changes with corporate regulatory body
What is included in the annual fee for your Company Secretary service?
Our annual fee for acting as the company secretary includes the following:

  • Providing Secretary of your company as required by Section 171(1A) of the Companies Act.
  • Attending to routine secretarial matters of the company such as
  • First board meeting,
  • Annual general meeting,
  • Affixation of common seal,
  • Providing company biz profile records.
  • Safekeeping, updating, and maintaining registers, minutes book, and other statutory records.
  • Reminding you of the various statutory compliance dates
What kind of services will be chargeable?
non-routine Secretarial matters as mentioned here under shall be chargeable.

  • Increase in paid-up capital
  • Change in shareholding
  • Change in M&A
  • Change in directors
  • Opening of additional bank accounts
  • Change in registered address
 
 
 
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