Forming A Singapore Private Limited Company

Forming a Singapore Private Limited Company is a common activity of both local and foreign entrepreneurs in Singapore

. A Private Limited Company is a type of company limited by shares and registered with Accounting & Corporate Regulatory Authority (ACRA) under the Singapore Companies Act. A Singapore Private Limited Company has a separate legal entity from its shareholders, and therefore they are not liable for the debts and losses of the company.

In response to the popularity of Singapore Private Limited Company, we have prepared basic information on how to form a Singapore company, particularly a private limited company.

These are the basic requirements for local and foreign entrepreneurs planning to register a Singapore company.

1.Minimum of $1 for the paid up capital

2.Minimum of 1 local resident director (i.e. Singapore citizen, Singapore Permanent Resident or Singapore work pass holder) that is a natural person and above 18 years.

3.Minimum of one local or foreign shareholder.

4.Appointment of 1 local company secretary.

5.Accessibility to an organization registered address.

These are the necessary documents needed for incorporation:

1.The approved name of your Singapore corporation;

2.A brief description of the proposed business activities that your Singapore corporation will engage in;

3.Particulars of the Singapore corporation's directors, shareholders and company

4.The corporation's Memorandum and Articles of Association (MAA);

5.Passport copies or Singapore Identity card (IC) copies of proposed shareholders and directors;

6.Residential address proof of proposed non-resident shareholders and directors; and

7.Details of the parent company if the shareholder is a corporate body.

These are two of the most common work visa processed in Singapore:

1.Employment Pass work visa for foreign professional working in Singapore. Foreign individuals who incorporate a Singapore company and wish to run its operations in the country must also apply for an EP. Non-Singaporean shareholders or managing directors of a Singapore company are also eligible to apply.

2.EntrePass work visa that caters to foreign entrepreneurs who lack the appropriate tertiary education or specialist skills qualification, but have proven records of successful accomplishment in business ventures.

by: Shayne Hughes

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