Detailed Requirement of Incorporation
A shareholder is commonly known as the member of the company. He is one who invests and holds shares in a company. Every company must have a minimum of at least one shareholder. Shareholders can be individuals or corporate entities (i.e. another company). In Singapore, there is no requirement of local shareholder. This means that the shares can be held by 100% local or foreign shareholding. There is a limit of 50 shareholders in every private limited company in Singapore. All information of the shareholders will appear on public records. Shareholders of a company can also be directors of the company and vice versa. Learn more about our Shareholders.
The company secretary must be a natural person who is an “ordinary” resident in Singapore. Singapore Companies Act requires each company to appoint a company secretary within six month of incorporation. Learn more about our Corporate Secretarial Service.
Local Resident Director:
Singapore Private Limited Company must have at least one director who must be an “ordinary” resident in Singapore, which means a Singapore citizen, a Singapore permanent resident or a person who holds an Employment Pass/EntrePass with a residential address in Singapore.
There is no limit on the number of additional local or foreign directors a Singapore Private Limited Company can appoint.
The director must be at least 18 years of age, and must not be bankrupt or convicted for any criminal malpractice in the past. Information of the directors will appear on public records. Directors can also be shareholders or vice versa. Learn more about Company Directors.
Share Capital/Paid-up Capital:
The minimum paid-up capital for registration of a Singapore company is S$1 or its equivalent in any currency. The minimum issued capital is one share of par value. “Bearer” shares or “No par value” shares are not permitted. The Share or paid-up capital can be increased any time after incorporation of the company.
Every company registered in Singapore is required to have a registered office address. The registered address must be a physical address and cannot be a PO Box. Use of residential address is allowed for certain types of business. Learn more about our Registered Address Service.
The company name must be approved by ACRA before the Singapore Company can be incorporated. ACRA will reject a proposed company name for the purpose of incorporation if:
- It is identical to another existing Company Name
- It is undesirable
- It is similar to establish Names or trademarks such as Coca Cola and Temasek
The Singapore Standard Industrial Classification (SSIC) is the national standard for classifying economic activities undertaken by economic units and is used for censuses of population, household and establishment surveys and, increasingly, in administrative databases.
During the name application for your company, you are required to specify the primary and secondary (optional) activities of your business by choosing the SSIC codes that best describe your business.
The Constitution is a legal document that:
Describes the key characteristics of the company
Contains the rules and regulations for its governance
Describes how its operations will be carried out
Outlines the rights and responsibilities of the directors shareholders and company secretary
The company’s Constitution must be submitted to ACRA upon application.
Ready to Incorporate in Singapore? View our Company Registration package here or book a consultation with us
Have more questions regarding company incorporation in Singapore? View more FAQs or Send us an enquiry below!