Are you planning a business in Singapore? Then our team will help you with useful information here. In Singapore, all companies must be registered with the Accounting & Corporate Regulatory Authority (ACRA) and comply with the Companies Act. Moreover there are five different entities to choose from, the private limited company is the most common and flexible business entity to be established in Singapore. It is recognized in its own right as a taxable entity. As a result, Singapore private limited company shareholders are not liable beyond their share capital for their debts and losses.
Key Requirements for Company Registration in Singapore
Here are the key for Company Registration in Singapore:
• At least one shareholder (individual or corporate)
• One resident manager
• One of the company secretary
• Initial paid-up share capital with least S$1
• The physical office address in Singapore
How to Form a Singapore Private Limited Company?
• To register a company in Singapore must have an independent legal entity separate from the owners of the company.
• This means that the company can sue and be sued in its capacity, which means that the directors and shareholders of the company are not liable for the company's debts.
• The organization enlistment in Singapore must have an adequate paid-up capital, at that point there are no commitments for the investors to the loan bosses of the organization and their benefits are shielded from these banks Private restricted organization might be property proprietors Maximum 50 investors inside the organization A Singapore Private Limited Company is viewed as an expense occupant; consequently it is qualified for nearby duty.
Steps to register a company in Singapore
• First of all, must be register a company name with ACRA
• Later the brief description about business activities
• Detail Singapore address of the company registration.
• Particulars of shareholders
• Particulars of directors
• Details of company secretary
• The Foreign Entrepreneurs must have a submit a copy of their passport and residential address proof (overseas)
• International Companies must submit Memorandum & Articles of Associations
• Singapore Residents must send a copy of their Singapore identity card
