Requirements for incorporating a company in Singapore

This page will explain you all the requirements for incorporating a company in Singapore and some specific points foreigners need to note.

Basic requirements for forming a company in Singapore

one

Director

Director is like manager of the company. Director (or board of directors) oversees the operations of the company. Every Singapore based company must have minimum one director who should be a Singapore Citizen or a Singapore permanent resident or an employment pass holder. Foreign nationals can be appointed as foreign directors in addition to the local director. Any person who is 18 years + of age can act as a director. However, undischarged bankrupt or people convicted of any malpractice cannot be appointed as a director.

If you do not have any Singapore local resident to act as director then we can provide you a nominee Director. In that case you will also be appointed as foreign director of your Singapore company. If you have more questions about roles and responsibilities of the nominee director then please refer to our Nominee Director page.

    two

    Shareholder

    To incorporate a company in Singapore you will need minimum one shareholder. Shareholder can be an individual or a corporate. Shareholders are like owners of the company. They may or may not actively operate on day to day operations of the company. Singapore companies act allows 100% foreign shareholding. In most of the small private limited companies, shareholders and directors may be the same person.

    Since ownership of the company is with the shareholders of the company, appointing a nominee Director does not impact your shareholding. You are still 100% owner of your company.

      three

      Company Secretary

      Every company needs a secretary who is individual and resident in Singapore. Secretary is like administrator of the company, who takes care of all compliance aspects. Secretary is responsible for maintaining all the statutory registers, resolutions, minute books of the company.

      Transcend will provide a secretary to take care of compliance aspects of your company. Company secretary is a legal position and should not be misunderstood with the commonly known junior secretary positions.

        four

        Share Capital

        Minimum share capital required is $1, however in reality, the share capital will usually depend on nature of business and its future plans.

          five

          Local registered address

          Every company needs to provide local Singapore address to register a company. This address cannot be a PO Box address.

            Foreigners can normally satisfy only two requirements out of it, i.e. becoming a shareholder and bringing in share capital. So in this case Transcend Consulting will provide you a nominee Director, a company secretary and a registered address for your business.

            Documents required for incorporation

            Company registration form (ask us for the form)

            This form captures all relevant details like company name, shareholding structure, Directors and shareholders of the company.

            Completed KYC form (ask us for the form)

            KYC form collects information about client's existing business and purpose of new Singapore entity. This form is important consideration before providing Nominee Director service

            Copies of passports of all directors / shareholders of proposed new company

            Proof of identification of all Directors / Shareholders of new company

            Residential address proof of all directors / shareholders

            Usually utility bill, telephone bill, bank statement with address will suffice

            Clients business profile in his home country

            Certificate of incorporation of your business in home country. If you are currently not owning any business then you can provide your work and experience history. (In case of corporate shareholding this document is must).

            Bank statement / Bank reference letter

            Issued in the name of your business in home country. Alternatively reference letter issued in your personal name is ok.

            Certificate of incumbency of parent company

            In case of shareholding by foreign corporate, a certificate of incumbency will be required. This document shows latest list of directors and shareholders in the parent company.