Guide on How to Register a Singapore Company

Guide on How to Register a Singapore Company

Due to the efficiency of the computerized business registration process it is much easier for many foreigner businessmen to start up a new company in Singapore than in most other countries. In fact, most businessmen can incorporate their company in just a few days in the city-state, or an average of three days.

While entrepreneurs can incorporate their company by themselves, the Singapore government advises them to hire the service of a professional business registration firm or law/accounting firm if they are unable to provide all the company registration requirements.

A Guide on How to Register a Singapore Company:Some Instructions in Registering a Company in Singapore.

For entrepreneurs who want to hire a professional firm that will assist them during the incorporation process, they should provide the following certificates and documents:

Name of the Company In order for the company name to be registered, it must not violate a trademark of another company, must not evoke indecency and vulgarity and must be unique meaning no other existing company is using the proposed name.

Meanwhile, the government has also banned certain words and phrases as a company name.

A summarized description of the business and its activities. The said description include the products and services offered, scale of operation, business' nature and other information about a company that are essential.

Particulars of the Directors and Shareholders.

Registered Office Address. The said office address must not be a PO Box, it should be a "physical address". This place is where the authorities send their notification letters to a company and also where businessmen keep the statutory records of their company. In case that it is a residential instead of a commercial address, a company should seek the permission of the Housing and Development Board or the Urban Development Authority.

The Act and Provisions Singapore Companies

The company must have at least one shareholder and one resident director who must either be a Singaporean citizen, permanent resident, or foreign individual who has Singapore Employment Pass, EntrePass, or Dependant Pass as stipulated in the Singapore Companies Act.

Meanwhile, there is no limit on the number of additional directors who may be a local resident or foreign businessman from abroad.

In terms of the number of shareholders, a range of one to 50 individuals or corporate entities either local or foreign are allowed. (In an effort to attract international businesses, Singapore allows 100 percent foreign ownership as long as the entrepreneurs or companies will assign at least one resident director.)

Finally, as long as the entrepreneur will secure an EntrePass or Employment Pass, he/she can be the resident director and simultaneously be one of the shareholder of the company.

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