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Singapore is a great city to work, study, live and play. This globally connected, multi- cultural, cosmopolitan city-state offers a conducive environment to numerous industries. Global businesses find it advantageous to site their headquarters in Singapore. Strong trade and investment make Singapore one of the most competitive Asian countries. Companies based in Singapore can tap the diverse capital markets and cutting-edge financial services from more than 500 local and foreign financial institutions here.
In the spotlight:
A Short Guide to Incorporating a Company in Singapore
Decide on which type of company you would like to incorporate. Business entity types include sole proprietorship, partnership, limited liability partnership, and limited partnership companies. Most start-ups would fall within the category of private limited companies.
Paid Up Capital. You can incorporate a company with minimum paid up capital of S$1. We will recommend the paid-up capital for your company depending on your business model.
Registered Address. Your company must have a Singapore address. Smooth can provide its registered address service to fulfil this requirement.
Financial Year End. You need to select a FYE for your company.
Shareholders. Should your company have 20 or less shareholders (who are not corporations), you may choose to set up a Exempt Private Company. This helps ease compliance complications as certain Exempt Private Companies need not lodge their financial accounts with ACRA.
Fill key positions within the company. Positions, such as Director, would have to be held by a person above the age of 18. Your Director would have to be Singaporean. But there are other occasions an E-pass holder could also become a Director; this is subject to the Ministry of Manpower’s regulations.
Hire a company secretary. Within 6 months of incorporation, the company is required to appoint a company secretary who is residing in Singapore, not the sole director of the company, and meets the minimum qualification according to ACRA.
Appoint an auditor. This has to be done within 3 months of incorporation unless your company meets the requirements for exemption from statutory audit.
Not local? If you are a foreigner in Singapore, you are required to appoint a local director and also engage the services of a registered filing agent to submit the online application on your behalf.
Our incorporation service includes:
- Checking and reserving company name
- Preparing all registration forms & board resolutions
- Preparing your company constitution (memorandum & articles of the company)
- Opening of corporate bank account
Smooth works closely with businesses to assist them through every phase of incorporation to ensure that business owners are equipped with all the knowledge they need. We dedicate experts to business owners and ensure clear communications & single-point contact. We strive to make setting up your new business a smooth & seamless process for you. We will take care of all your incorporation needs through our complete suite of services that covers all aspects of setup and ongoing company administration.
Our Smooth compliance experts would be more than happy to meet with you and share how we can help you incorporate your business.
