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Singapore Company Formation

Package for Local Residents

Package for Local Residents

Singapore Company Formation for
Singapore Citizens and Residents

* Phone Number available for 2 year service signup

SG$ 1100


What is Included in this package for Singapore Company Formation

This package has been designed for those who don’t need the Nominee Director Service for your Singapore company and there are no plans for a work visa application. Included in the package are the following services:

Your Singapore Company Formation

All of the necessary paperwork will be prepared and we will register (with the ACRA – the Singapore company registrar) your Singapore private limited company. All government filing fees are included.

Bank Account Opening Assistance

We will assist you with opening a Singapore bank corporate account. OCBC is our preferred partner for Bank account opening.

Company Secretary Service

We will provide Company Secretary Service for a period of 1 year. Please note that Singapore company law requires that a local company secretary be appointed for every company.

Filing of Your Annual Return

This package for Singapore Company Formation includes the filing services to ACRA. We will file your company’s Annual Return with the ACRA.

Tax Planning Review and Consultation

We will provide a one hour review and consultation regarding all aspects of your Singapore Company Formation. We will provide optimization suggestions for your Singapore company’s corporate tax obligations.

Optional Phone number with your Singapore Company Registration

Price 300 SGD per year

Every company needs a dedicated telephone number for communicating with customers. As a bonus we are offering a dedicated Singapore Telephone number for every company in this package at a discounted price.

Access from anywhere

6 series Singapore number

50 minutes monthly outgoing

Unlimited incoming calls

Retain Number

Free Phone Number with Your Singapore Company Registration

Submit Your Inquiry for Singapore Company Formation

Does This Package Fit Your Needs?

Choosing this option is appropriate should you have either a Permanent Resident or Singapore citizen individual (either you or someone that you may know) who will act as your proposed company’s local director (i.e. you don’t require the Nominee Local Director service).

In addition, this package option will assume that you won’t need a work visa application.

Considering the above, this package for Singapore Company Formation will most commonly suit local Singapore entrepreneurs when they are setting up their Singapore private limited company.

Incorporation Timeline and Procedure for Singapore Company Formation

Working with our team is a simple matter. Upon confirmation of your decision to utilize our services, we will start needed activities. At that point, you will be in collaboration with our service team. This will make all aspects of your Singapore Company Formation very easy.

Our team is adept in online coordination with you, when it comes to all these steps, from beginning to end:

  • 1

    Engaging our services

    Once you have made the decision to move forward with us, your new account will be created in our system, and our team will work on high priority to make arrangements for necessary activities for Singapore Company Formation. Payment may be made via bank transfer or credit card.

  • 2

    Finalizing your company’s structure

    Along with making your payment arrangement, you will have the opportunity to provide your proposed company structure details along with a supporting document upload into our online system. The information that you provide will then be reviewed by our team. They will then conduct their required regulatory KYC due diligence. Using the online system, our support team will contact you should any clarification be needed.

  • 3

    Approval of Company name

    Upon the KYC due diligence, your company name application will be submitted by or support team.

  • 4

    Incorporation documents signatures

    Upon your Company name approval, the required incorporation documents will be prepared by our support team and submitted for your signatures. The signing of these documents will be done electronically, which will eliminate the requirement of any inconvenient manual paperwork signatures and notarizations.

  • 5

    Singapore Company Formation

    Your company registration will then proceed with the ACRA (Singapore’s Accounting and Corporate Regulatory Authority) once they have received the signatures on the incorporation documentation.

  • 6

    Opening of your bank account and post-incorporation

    Upon the incorporation of your company, the next logical step is to open a bank account in Singapore. Our team will advise you about this. Please note a personal visit is required for a bank account opening. Normally the bank representative visits our office for the same.

The Overall Timeline

  • The completed company incorporation process (1-6 above) may require anywhere from one to several days. The actual time frame will depend on how quickly you are able comply with the requirements on your end (document signing, providing the support documentation, etc.).
  • The opening of a Singapore corporate bank account currently takes from 3-4 weeks. However, Singapore banks have a requirement that mandates at least one physically present Executive Director in Singapore, who will be needed in order to provide their signature for account opening documentation.
Singapore Company Formation

Required Supporting Documents For Singapore Company Formation

For your company incorporation, the following supporting documentation will be needed. Please, note that all documentation will need to be in either English or to have been translated into English.

Each Director, UBO (Ultimate Beneficial Owner) and Shareholder of your proposed company:

  1. A copy of your passport
  2. For Singapore citizens – an NRIC copy and PRs (for Singapore work pass holders, a FIN card)
  3. Proof of residential address (i.e. rental agreement, recent utility bill, driver’s license, etc. Not older than 3 months)
  4. Brief synopsis of their professional background. (i.e. LinkedIn profile or CV (curriculum vitae)

For a parent corporate entity

The following documents will be required for your parent corporate entity should your company possess a corporate shareholder:

  1. Certificate of Registration – This will be issued by the jurisdiction’s Registrar in which your company is registered.
  2. Company Extract – This should contain the following information:
    • Your company’s name, its registration number, its registration address and its main business activities
    • Your company’s paid-up capital
    • Directors and Shareholders particulars
  3. Authorised Person Resolution –This resolution needs to be passed by the company’s director(s) and should include the following:
    • An Authorised Person’s appointment when it comes to signing the documents related to the Singapore Company’s formation on the shareholding company’s behalf.
    • The shareholding company’s decision to hold shares in your proposed Singapore Company
  4. Ownership Structure Chart – (or information) which will identify the shareholding company’s key UBOs. For each one of the UBOs, the documents (that have been listed above) will be needed.

Frequently Asked Questions about Singapore Company Formation

Answers to some commonly asked questions

My friend has a Singapore employment pass. Can that person act as my Company’s local director after Singapore Company Formation?

No it is not possible. As per the Ministry of Manpower rules, a person who is holding an employment pass issued by one company can not act as a director of another company.

Am I allowed to hire foreigners to work for my Company?

Yes. Any Singapore private limited company may hire both local and foreign staff.

However, please note that when your Company hires foreign staff, they will need to satisfy the conditions of eligibility for the applicable work pass category (S-Pass or Employment Pass)

Prior to commencing my business activities, will I be required to obtain business licenses?

This will depend entirely on the type of business that you wish to undertake. To discover whether or not your business will require a license, please refer to this site: visit this site.

Should you require a business license, that license must be obtained prior to beginning your business activities. However, there are only few business activities that require licensing in Singapore. Most of the other businesses can be conducted without having a need to obtain a license.

If I have questions about Singapore Company Formation that haven’t been covered by this FAQ, where can I obtain the answers?

Please refer to our additional articles regarding Singapore business regulations. Our team is also available to answer your questions and we will gladly assist you.

We’re Ready to Help

Our service delivery team is on standby and ready to assist you
for your Singapore Company formation.
Singapore Company Formation

Why Engage Us

Everything you need to get started, for one fixed price.

Comprehensive Packages

Our packages are comprehensive. The price covers everything required.

Expert Team

Our service team has many years of experience. we will guide and assist you throughout your engagement.

Quality Service

We take pride in the quality of services we provide. Check our testimonial section to see what our clients speak about us.

Transparent pricing

Our pricing is available on our website. There are no hidden costs.

Satisfaction Guaranteed

No long term contract, no commitments. If you don’t like our services you are free to change anytime.

Straightforward Approach

We are very straightforward with our approach. If something in your plan is not likely to work out we will be frank to tell you so.

Accreditations and Partners

  • ACRA
  • ISCA
  • MOM
  • IRAS
  • AWS
  • XERO
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