{"id":3645,"date":"2019-03-08T06:43:40","date_gmt":"2019-03-07T22:43:40","guid":{"rendered":"https:\/\/zegal.com\/?p=3645"},"modified":"2023-01-18T13:38:08","modified_gmt":"2023-01-18T05:38:08","slug":"incorporating-a-company-in-singapore","status":"publish","type":"post","link":"https:\/\/zegal.com\/en-au\/blog\/post\/incorporating-a-company-in-singapore\/","title":{"rendered":"Incorporating a company in Singapore"},"content":{"rendered":"<p style=\"text-align: left;\" data-tadv-p=\"keep\"><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">This guide is designed to provide you with detailed information about incorporating a company in Singapore. It details the various registration requirements, procedures, and likely timeline for registering a company in accordance with Singapore\u2019s initial and ongoing regulatory requirements.<\/span><\/p>\n<p style=\"text-align: left;\" data-tadv-p=\"keep\"><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Registering as a Private Limited liability company in Singapore is the best possible choice for foreign companies as it is recognized as a <strong>separate legal entity<\/strong> and shareholders are not liable for any debts incurred beyond the share capital already contributed.<\/span><\/p>\n<p style=\"text-align: left;\" data-tadv-p=\"keep\"><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><strong>A properly structured Private Limited company\u00a0enjoys\u00a0tax efficiencies and little limitations when\u00a0conducting business in Singapore.<\/strong> <\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/zegal.com\/wp-content\/uploads\/2016\/09\/Singapore-1024x683.jpg\" alt=\"setting up a company in singapore\" width=\"1024\" height=\"683\" \/><\/span><\/p>\n<p style=\"text-align: center;\" data-tadv-p=\"keep\"><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/ctt.ec\/_OHp9\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/zegal.com\/wp-content\/uploads\/2016\/09\/Share-on-Twitter.png\" alt=\"Share on Twitter\" width=\"19\" height=\"15\" \/><\/a>\u00a0<a style=\"color: #000000;\" href=\"https:\/\/ctt.ec\/_OHp9\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Tweet this<\/strong><\/a><\/span><\/p>\n<p><a href=\"https:\/\/zegal.com\/blog\/post\/set-up-business-singapore\/\">RELATED READING: 5 Reasons to Set Up Your Business in Singapore<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Minimum_Setup_for_Incorporating_a_Company_in_Singapore\"><\/span><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><strong><span style=\"font-size: 18pt;\">Minimum Setup for Incorporating a Company in Singapore<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Shareholder (individual or corporate entity) \u2013 1<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Resident Director \u2013 1<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Company Secretary \u2013 1<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Initial paid-up share capital of at least S$1<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">A physical Singapore registered office address<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"What_to_inform_your_service_provider_before_registering_a_company_in_Singapore\"><\/span><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><strong><span style=\"font-size: 18pt;\">What to inform your service provider before registering a company in Singapore?<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Company_Name\"><\/span><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b>Company Name<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><span style=\"font-weight: 400;\">ACRA is an organization that will inspect your company name and it has authority to approve company name. You need to <a href=\"https:\/\/www.acra.gov.sg\/how-to-guides\/before-you-start\/reserving-a-business-name\">purpose your company name to ACRA<\/a>. It <\/span><span style=\"font-weight: 400;\">will reject a proposed company name for the purpose of incorporation company in Singapore if:<\/span><\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">identical to another existing Company Name<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">undesirable<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">similar to established Names or trademarks such as Coca-Cola and Temasek<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Shareholders\"><\/span><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b>Shareholders<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">For registering a company in Singapore, you need to have a minimum of one and a maximum of 50 shareholders for a Singapore Private Limited Company. Shareholders can be \u00a0foreigners or local Singaporean, person or a corporate can tilted as shareholder either by subscribing for shares in the company or by purchasing the company\u2019s shares. Details of shareholders will appear on public records.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Resident_Directors\"><\/span><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b>Resident Directors<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><span style=\"font-weight: 400;\">To Incorporate a company in Singapore, You must have at least one director who is <\/span><span style=\"font-weight: 400;\">resident in Singapore, which means a Singapore citizen, Singapore permanent resident or a person who holds an Employment Pass\/EntrePass \u00a0with a residential address in Singapore. Following that the director should not be bankrupted or convicted for any criminal malpractice in the past. He\/she should be at least 18 year old. Directors can also be shareholders or vice versa.<\/span><b><\/b><\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Company_Secretary\"><\/span><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b>Company Secretary<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><span style=\"font-weight: 400;\">If you wish for incorporating a company in Singapore, You company must have company Secretary to <\/span><span style=\"font-weight: 400;\">ensure regulatory compliance. Singapore companies states to appoint secretary within six months of incorporation.<\/span><span style=\"font-weight: 400;\"> Secretary should be <\/span><span style=\"font-weight: 400;\">\u201cordinarily\u201d resident in Singapore.<\/span><b><\/b><\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Share_CapitalPaid-up_Capital\"><\/span><span style=\"color: #000000;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif;\"><b>Share Capital\/Paid-up Capital<\/b><\/span><b><\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">S$1 or its equivalent in any currencies is the minimum paid-up capital for registration of a Singapore company. The minimum issued capital is one share of par value. \u201cBearer\u201d shares or \u201cNo par value\u201d shares are not permitted. You can increased Share or paid-up capital anytime after incorporation of the company.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Registered_Address\"><\/span><span style=\"color: #000000;\"><strong><span style=\"font-family: arial, helvetica, sans-serif; font-size: 14pt;\">Registered Address<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><span style=\"font-weight: 400;\">For Incorporating a company in Singapore you must have a physical address \u00a0and <\/span><span style=\"font-weight: 400;\">\u00a0cannot be a PO Box <\/span><span style=\"font-weight: 400;\">of your company at which <\/span><span style=\"font-weight: 400;\">the company is to keep the various registers that it is required to maintain under the law. The address will also be considered as official place to send all notices and official documents.<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">You can use residential address but that depends on your business category.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Governance_Structure\"><\/span><span style=\"font-family: arial, helvetica, sans-serif; font-size: 14pt; color: #000000;\"><b>Governance Structure<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">The governance structure of a company and the interrelationship between the company and its shareholders is governed by the company\u2019s constitutional documents (the Memorandum of Association and the Articles of Association) as well as by the provisions of the Companies Act. Note that as of 1\/1\/2016, the memorandum and articles of association will be merged and renamed into a single document called the \u201cConstitution\u201d. All existing companies incorporated prior to the date, will not be required to merge the documents and simply can continue with their current M&amp;A. It is also not uncommon to find the members of companies (usually in joint venture arrangements) entering into \u2018shareholder agreements\u2019 as among themselves to capture some of their key rights and obligations in relation to how the company is to be structured and managed.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Tax_exemptions_and_incentives\"><\/span><span style=\"font-family: arial, helvetica, sans-serif; font-size: 14pt; color: #000000;\"><b>Tax exemptions and incentives<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><span style=\"font-weight: 400;\">Singapore-registered companies enjoy attractive <\/span><b>tax exemptions and incentives<\/b><span style=\"font-weight: 400;\">. Your company pays less than 9% for the first S$300,000 you make in annual profits, followed by a flat rate of 17% flat thereafter. Singapore companies do not have to pay capital gains or dividend taxes. For further information on taxes, refer to our Singapore corporate tax guide.<\/span><\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Not_a_Singaporean_resident\"><\/span><span style=\"font-size: 18pt; color: #000000;\"><b style=\"font-family: arial, helvetica, sans-serif;\">Not a <\/b><span style=\"font-family: arial, helvetica, sans-serif;\"><b>Singaporean<\/b><\/span><b style=\"font-family: arial, helvetica, sans-serif;\"> resident?\u00a0<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">If you are not a Singaporean resident and willing to Incorporate a company in Singapore then you should consider the following points:<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif;\">Under Singaporean law, non-resident individuals or corporate are not allowed \u00a0to self-register a company. So you must find professional firm to register your company in \u00a0Singapore.<\/span><\/span><\/li>\n<li>You must get Employment Pass or Entrepreneur Pass incase planning to move to Singapore to operate your company. Doing so you can act as the local resident director of your company.<\/li>\n<li>In case you are operating your company out from Singapore, you don\u2019t need to have pass or working visa. However you will need to find a local director to fulfill the minimum one resident director requirement.<\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Unless you intend to open a bank account at a Singapore-based bank. All Singapore company incorporation and work permit formalities can be handled without you having to physically visit Singapore \u2013 unless you intend to open a bank account at a Singapore-based bank.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Documents_required_for_incorporating_a_company_in_Singapore\"><\/span><span style=\"font-family: arial, helvetica, sans-serif; font-size: 18pt; color: #000000;\"><b>Documents required for incorporating a company in Singapore<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">The Company Registrar requires the following information before the registration process can begin:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Your company name,<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">A brief description of your business and the scope of its activities,<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Paid-up capital amount,<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">The particulars of your shareholders,<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">The details of your directors (this includes your mandatory resident director and any additional foreign or local directors),<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Your registered office address in Singapore, and<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">The particulars of your company secretary.<\/span><\/li>\n<\/ul>\n<div style=\"text-align: center;\"><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><a style=\"background-color: #ffffff; border: 1px solid #de5b6b; border-radius: 3px; color: #000000; display: inline-block; font-size: 13px; font-weight: bold; line-height: 50px; text-align: center; text-decoration: none; width: 480px; text-size-adjust: none;\" href=\"https:\/\/zegal.com\/legalguide\/incorporate-your-business\/\">Read more: Documents required when incorporating your business<\/a><\/span><\/div>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">In order to prepare the required paperwork for registration, your\u00a0professional firm will also request the following documents*:<\/span><\/p>\n<ol>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">For foreign nationals: Passport copy and proof of overseas residence,<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">A copy of the Singapore identity card for permanent residents or citizens, and<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Copies of registration documents of the foreign company. This could include a Certificate of Incorporation and Memorandum and Articles of Association (only applicable for branch) and company extract from the registrar.<\/span><\/li>\n<\/ol>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">*If the documents are in a language other than English, an officially endorsed translated copy is required.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Registration_timeline_for_incorporating_a_company_in_singapore\"><\/span><span style=\"font-family: arial, helvetica, sans-serif; font-size: 18pt; color: #000000;\"><b>Registration timeline for incorporating a company in singapore<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Over the last decade, the Singapore Registrar of Companies has made a dedicated effort to streamline the incorporation process. As a result, the company registration procedure is now fully-digitised and takes only<strong>\u00a02\u00a0days\u00a0<\/strong>(subject to the receipt of\u00a0complete documents).<\/span><\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><strong>Legal made digital:<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/zegal.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/zegal.com\/wp-content\/uploads\/2016\/09\/GIF-Upload-Sign-1.gif\" alt=\"Upload &amp; Sign\" \/><\/a><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><a style=\"background-color: #de5b6b; border-radius: 3px; color: #000000; display: inline-block; font-size: 13px; font-weight: bold; line-height: 50px; text-align: center; text-decoration: none; width: 250px; text-size-adjust: none;\" href=\"#register\">Try Zegal for free<\/a><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><strong>Part 1: Reserving your company name<\/strong><\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Before a company can be set up, it needs to have an approved name. Your corporate secretarial service provider can help to file this with the Company Registrar on your behalf.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/ottaviaholdings.com\/sg\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/zegal.com\/wp-content\/uploads\/2016\/09\/Banner-1280x360px-1024x288.png\" alt=\"Ottavia\" width=\"500\" height=\"102\" \/><\/a><\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">The approval process generally comes through in<strong> less than an hour,<\/strong> regardless of whether it is approved or rejected; provided it does not contain certain professional words such as &#8220;bank&#8221;, &#8220;finance&#8221;, &#8220;law&#8221;, or &#8220;media&#8221;.\u00a0If you have submitted an application for a company name containing\u00a0these professional words,\u00a0it may require additional\u00a0approval from the relevant government authority outside of the Registrar. This will stretch the\u00a0approval process to several weeks. Your chosen company name must satisfy the following criteria:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">The name you choose must not be identical or too similar to the name of any existing local companies,<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">It cannot infringe any registered trademarks,<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">The name is free of vulgarities or obscene terms or implications, and<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">The name has not already been reserved by another company who intends to incorporate.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Once approved, the name will be reserved for<strong> 60 days<\/strong> from the date your application was lodged. You may request an extension prior to the expiry date.<\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><b>Part 2: Registering your company <\/b><\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Once the\u00a0relevant documents are signed, filing the incorporation request and receiving approval from the Registrar of Companies can occur in just a few hours after the name is approved.<\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Once approval is gran<img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"https:\/\/zegal.com\/wp-content\/uploads\/2016\/09\/approved-1024x580.png\" alt=\"incorporation of company approved\" width=\"333\" height=\"258\" \/>ted, a registration fee must be paid to the Singapore Registrar of Companies. The fee\u00a0ranges from <strong>S$300 onwards<\/strong>\u00a0depending on the type\u00a0of entity registered.<\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Delays may occur if complexities arise in the case where directors, shareholders, or foreign companies are of particular nationalities or countries. In such cases, there might be requests for additional documentation prior to granting approval.<\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><b>Part 3: Formalities\u00a0following incorporation:<\/b><\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Once the company has been\u00a0set up,\u00a0the following documents will be issued:<\/span><\/p>\n<ol>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><b>Certificate of Incorporation: <\/b>The Company Registrar will send an email containing a company registration number which is considered the official certificate of incorporation. Although a hard copy is no longer issued as a matter of course, one can be requested online and collected the next business day from the office of the registrar. Requesting a hard copy incurs a fee of S$50. This applies to both the Subsidiary and branch office.<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><b>Company Business Profile: <\/b>This is a document containing the particulars of your company and a PDF file of this can be requested for an application fee. The document will be delivered within an hour of making the request.<\/span><\/li>\n<\/ol>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">These two documents are considered to be sufficient for all legal and contractual purposes for Incorporating a business in Singapore. Additionally, you should also have:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Share Certificates for each shareholder (only for subsidiary),<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">A company seal (only for subsidiary),<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">A company rubber stamp, and<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">A share register indicating shares allotted (only for subsidiary).<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_bank_accounts\"><\/span><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><b><span style=\"font-size: 18pt;\">Corporate bank accounts<\/span> <\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Once the company is setup, your company is free to open a corporate bank account at any of the major banks in Singapore. Many of the major banks require your physical presence as part of the procedure. While this is not an absolute rule and there are banks in the city which do not follow this procedure, your physical presence in Singapore will grant you a\u00a0broader range of options.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Annual_filing\"><\/span><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><b><span style=\"font-size: 18pt;\">Annual filing<\/span> <\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">The Companies Act requires that you perform certain annual filing processes in order to comply with the relevant commercial regulations in Singapore.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Know_when_your_company_has_been_incorporated\"><\/span><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><strong><span style=\"font-size: 18pt;\">Know when your company has been incorporated<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">The Certificate of Good Standing proves the existence of a company registered in Singapore, and that it is still live on ACRA corporate register. It bears the electronic signature of the Assistant Registrar of ACRA and is available for companies only. The name of the company, its incorporation date, status, and activities will be stated on the certificate<\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><span style=\"font-weight: 400;\">Once you received a \u201c Certificate of Good Standing\u201d \u00a0Your company is Incorporated. When your Company has been incorporated, ACRC \u00a0will send an official email for confirmation. The email includes the registration number a<\/span><span style=\"font-weight: 400;\">nd is treated as the official <\/span><b>certificate of incorporation<\/b><span style=\"font-weight: 400;\"> in Singapore. <\/span><span style=\"font-weight: 400;\">It bears the electronic signature of the Assistant Registrar of ACRA and is available for companies only.<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">You can get a Hard copy as well as a PDF version of your company. You need to request and pay a minimal fee.<\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><span style=\"font-weight: 400;\">The <\/span><b>company business profile<\/b><span style=\"font-weight: 400;\"> is usually available for download within an hour of the request and contains the following key details:<\/span><\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Company name and registration number<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Previous names for the company, if any<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Incorporation date<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Principal activities<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Paid-up capital<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Registered office address<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Shareholders\u2019 details<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Directors\u2019 details<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Company secretary details<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">The email notification of incorporation and company business profile is sufficient in Singapore for all legal and contractual purposes, including the opening of corporate bank accounts, signing of office leases, subscriptions to telephone\/internet services, etc.<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Some of the other items you will almost certainly need for registering a company in Singapore include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Share certificates for each of the shareholders<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Share register indicating shares allotted to each of the shareholders<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Company seal for the company<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">A rubber stamp for the company<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"After_Incorporating_your_company_in_Singapore\"><\/span><span style=\"font-size: 18pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b>After Incorporating your company in Singapore\u00a0<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Notable_Post_Registration_and_Compliance\"><\/span><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><strong><span style=\"font-size: 14pt;\">Notable Post Registration and Compliance<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Take licenses and permit to operate your business: You might need to \u00a0get approval or license from the relevant government authorities depending on your business types:<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">For Example Travel agencies, Liquor business, private schools, moneylenders, Bank, etc requires a permit to operate.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Company_register_number\"><\/span><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><strong><span style=\"font-size: 14pt;\">Company register number<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Get your registration number on company documents. The issued registration number by ACRA \u00a0must be on all letterheads, invoices, billings, or other documents used for official business communications.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Singapore_Goods_and_Services_Tax_Registration\"><\/span><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><strong><span style=\"font-size: 14pt;\">Singapore Goods and Services Tax Registration<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><b>Goods and services tax(GST) is a tax all Singapore businesses pay on the supply of goods and services. It is also applicable <\/b><span style=\"font-weight: 400;\">to the import of goods into Singapore. <\/span><\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; color: #000000;\">Singapore business with annual taxable revenue is more than S$1 million, or currently making taxable supplies and the annual taxable revenue is expected to be more than S$1 million should register GST.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Register_for_Central_Provident_Fund_CPF\"><\/span><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b>Register for Central Provident Fund (CPF)<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><b> CPF pension fund scheme i<\/b><span style=\"font-weight: 400;\">n which the employer and employee contribute a percentage of the monthly salary to the fund as a compulsion.<a style=\"color: #000000;\" href=\"https:\/\/zegal.com\/blog\/post\/cpf-contribution-obligations-employer-singapore\/\"> The employer must do CPF contribution for Singaporean Employees<\/a> or permanent residents earning more than S$50 a month CPF contribution for foreign employees is not required.<\/span><\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">For further reading, <a style=\"color: #000000;\" href=\"https:\/\/get.zegal.com\/incorporating-in-singapore-ebook\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>download our FREE eBook on Incorporating a Company in Singapore<\/strong><\/a>:<\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/zegal.com\/ebooks\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/zegal.com\/wp-content\/uploads\/2016\/09\/Incorporation-eBook-777x1024.png\" alt=\"Incorporation eBook on what you need to know about limited liability companies\" width=\"187\" height=\"254\" \/><\/a><\/span><\/p>\n<div style=\"text-align: center;\"><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><!-- [if mso]>\n<v:roundrect xmlns:v=\"urn:schemas-microsoft-com:vml\" xmlns:w=\"urn:schemas-microsoft-com:office:word\" href=\"https:\/\/get.zegal.com\/incorporating-in-singapore-ebook\/\" style=\"height:50px;v-text-anchor:middle;width:300px;\" arcsize=\"6%\" strokecolor=\"#de5b6b\" fillcolor=\"#de5b6b\">\n<w:anchorlock\/>\n<center style=\"color:#ffffff;font-family:sans-serif;font-size:13px;font-weight:bold;\">Download FREE eBook: Incorporation<\/center>\n<\/v:roundrect>\n<![endif]--><a style=\"background-color: #de5b6b; border: 1px solid #de5b6b; border-radius: 3px; color: #000000; display: inline-block; font-size: 13px; font-weight: bold; line-height: 50px; text-align: center; text-decoration: none; width: 300px; text-size-adjust: none;\" href=\"https:\/\/zegal.com\/ebooks\/\" target=\"_blank\" rel=\"noopener noreferrer\">Download FREE eBook: Incorporation<\/a><\/span><\/div>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">The detailed process of registering a company in Singapore is summarized in the following infographic:<\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/zegal.com\/wp-content\/uploads\/2016\/09\/Incoporation-in-Singapore-infographic-763x1024.png\" alt=\"Incorporating a company in Singapore infographic\" width=\"763\" height=\"1024\" \/><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><em>Source: Ottavia\u00a0<\/em><\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><em>This a guest contribution submitted by Putra Eddy of <strong><a style=\"color: #000000;\" href=\"https:\/\/ottaviaholdings.com\/sg\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ottavia<\/a><\/strong>. The views expressed here are of the author\u2019s, and Zegal may not necessarily subscribe to them. You, too, are invited to share your point of view! Learn more about guest blogging for Zegal <a style=\"color: #000000;\" href=\"https:\/\/zegal.com\/submit-guest-post\/\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<\/em><\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><b>About the Author<\/b><\/span> <span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/sg.linkedin.com\/in\/putraeddy\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft\" src=\"https:\/\/zegal.com\/wp-content\/uploads\/2016\/09\/Eddy-Putra-1.jpg\" alt=\"Eddy Putra\" width=\"151\" height=\"102\" \/><\/a><\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Eddy heads Ottavia group operations \u2013 a boutique Singapore-based corporate service firm that specializes in company formation, immigration, Accounting &amp; Tax, Business support.<\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; color: #000000;\">Eddy is an experienced chartered accountant and Alumnus of a Big 4 accounting firm (Deloitte Singapore). He has also gained commercial experiences during his tenure with a public listed firm which helps him to understand the intricacies of day-to-day operations, efficient corporate structuring, M&amp;A activities, and corporate compliance and regulations. <a style=\"color: #000000;\" href=\"https:\/\/sg.linkedin.com\/in\/putraeddy\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Connect with Eddy\u00a0on LinkedIn<\/em><\/a><em>.<\/em><\/span><\/p>\n<p><a href=\"https:\/\/zegal.com\/blog\/post\/company-incorporation-london\/\">Related Article: Company Incorporation London | Detailed Guide 2021<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This guide is designed to provide you with detailed information about incorporating a company in Singapore. It details the various registration requirements, procedures, and likely timeline for registering a company in accordance with Singapore\u2019s initial and ongoing regulatory requirements. Registering as a Private Limited liability company in Singapore is the best possible choice for foreign [&hellip;]<\/p>\n","protected":false},"author":51,"featured_media":25128,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","inline_featured_image":false,"footnotes":""},"categories":[14278,133],"tags":[],"usecases":[13715,13717],"businesstypes":[],"country":[],"class_list":["post-3645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-management","category-startup","usecases-set-up-a-founders-agreement","usecases-set-up-your-board-of-directors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.8 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Incorporating a Company in Singapore - A Complete Guide | Zegal<\/title>\n<meta name=\"description\" content=\"This guide is designed to provide you with the detailed information about registering a company in Singapore in 2021. 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