Singapore Company Setup Requirements

While planning for the establishment and effective running of a business, at the beginning stage in the new place, even a great entrepreneur will get puzzled. But the situation in Singapore will not give room.Following is the guide to assist you in setting up your business in Singapore.

Requirements Needed for Company setup:

  • The first step is to check the availability of the proposed name and to get the approval of it. An entrepreneur can propose three company names. The approval may take time if the application referred to the approval or review from the concerned authorities.
  • At least one director who is minimum of 18 years old wh0 should be a Singapore citizen, Singapore PR holder or employment pass holder.
  • Minimum one shareholder who need not to be a Singapore citizen.
  • One company secretary who must be a Singapore resident.
  • Minimum Share capital of $1 is required. But in reality, the share capital may increase depending upon the nature of the business and its future plans.
  • Registered Local Address.

Particulars required to register a company:

  • Company Registration form requiring company name, share structure, details of Directors and Shareholder details.
  • Completed KYC form is required, if you are engaging Nominee Director Service which contains the full details of client’s business and their purpose.KYC Form plays as the main role  in considering Nominee Directors Service.
  • Certificate of Incorporation is required, when the client already owns a business in its home country or else details of work and history of experience is enough.
  • Parent company Incumbency Certificate is required, when the client holds shares from foreign corporation which has the updated list of director and shareholders in the parent company.
  • Passport, Identity proof of directors and shareholders either scanned or photocopy.
  • Address proof of Director’s and Shareholder’s such as Phone bill /utility bill or credit card.
  • Reference letter or Bank statement from Bank issued either in the name of the client’s business or client’s name.
  • Documents which are in other languages must be translated into English, by a certified translator.
  • Notary public is mandatory for documents signed outside Singapore.

 

 
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