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Requirements for Company Registration in Singapore?

Requirements for Company Registration in Singapore?

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How can a Foreigner Register a Company in Singapore?

Consistently ranking at the top place in terms of ease of doing business, Singapore boasts quick and convenient company registration processes both for local and foreign business owners. However, the success of your company registration in Singapore relies heavily on how you equip your company with all the necessary data.

This time, we will identify each requirement that you should prepare for your company registration in Singapore. Take note!

Requirements for Company Registration in Singapore: Director(s)

A company in Singapore must appoint one local resident director. The director must be a Singapore citizen or permanent resident who is actually residing in Singapore. If he or she is a Singapore permanent resident but settling in another country, then he or she is not qualified for this requirement. Appointing additional local or foreign directors are also allowed.

Employment pass and EntrePass holders are not allowed to take Directorship in the company, which has not sponsored their EP or EntrePass.

Requirements for Company Registration in Singapore: Shareholder(s)

Reqirement for register company - Shareholders

A company in Singapore must have at least a minimum of one shareholder who is a Singapore resident. A foreigner in Singapore can also be appointed as a company shareholder as Singapore allows 100% foreign ownership of shareholding. Minimum 1 $ Share capital is required.

Requirements for Company Registration in Singapore: A Secretary

Reqirement for register company - A secretary

A company secretary handles responsibility within the company and guarantees that the company is in compliance with Singapore laws. He or she must be a Singapore local resident as foreigners are not allowed to be appointed as company secretaries. The single director of a company cannot also act as a company secretary. In this case, at least two directors or a separate director and a separate secretary are needed.

Requirements for Company Registration in Singapore: An Address

Reqirement for register company - An Address

A company in Singapore is required to register an address where it will keep all of its legal documents and receive notices. This address can be a commercial or home address, but not a post office box address. There should be somebody present to attend to any visitors at the location.

Requirements for Company Registration in Singapore: Example Scenarios

Reqirement for register company - Examples
  • A Singapore resident is registering a company in Singapore. This person is taking the shareholding, as well as the Directorship, of that company. Since he is a Singapore resident, he has already met the local director requirement and he does not have to take additional procedures for such requirement. However, since there is only one director, he can no longer act as the company secretary. Thus, he needs to appoint a relative or friend to be his company secretary or seek help from a professional firm. Professional firms in Singapore can immediately provide him with a company secretary from their staff.
  • Two foreigners from India are registering a company in Singapore. They also plan to act as the company directors and shareholders; hence, there will be two foreign directors and two shareholders. Nevertheless, they have no local director appointed yet. They have to either look for a relative or friend who can act as one or ask a corporate secretarial firm to provide them with a nominee director. In this case, there would be three company directors. The local director can also act as the company secretary or the corporate secretarial firm can also provide them with one.
  • A foreign company operating in another country is registering a company in Singapore as a wholly-owned subsidiary. In this case, the shareholding is 100% taken by this foreign company. This company has also nominated one of its employees to act as its foreign director. Since the local director requirement is not met here, the company must avail a nominee director service from a corporate secretarial firm. The appointed nominee director can then act as the company secretary because there are two directors on the board, or a corporate secretarial firm can perhaps provide them with another secretary.

Requirements for Company Registration in Singapore: A Quick Review

Director(s), shareholder(s), a secretary, an address—these are the four things that you should keep in before registering your company in Singapore. As long as you meet these requirements, your business in Singapore will not face any registration hurdles.

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