If you want to start a new business abroad or expand your current one globally, Singapore is a great choice.
It’s known for its business-friendly laws and easy operations.
Get to know the complete information in this article so that you can register a Singapore company from India easily.
What are the requirements for registering a company in Singapore?
To register a private limited company in Singapore, you must meet the following criteria:
- Have at least one shareholder
- Have a minimum paid-up capital of $1
- Have at least one local or resident director
- Have at least one company secretary
- Have a registered local address (P.O. Box addresses are not allowed)
Company secretaries are qualified and certified professionals who can help you with your company’s statutory compliance.
They lodge and file all required documents and information with regulatory agencies such as ACRA, IRAS, and MOM.
Important Note: You must hire at least one director who is typically a resident of Singapore. You must also have a physical address in Singapore for your company’s office.
Types of Singapore Company Registration
|Type of Business Setup||Nature of Business||Minimum Criteria Required for Particular Business Type|
|Private Limited Company||Limited responsibility for debts, corporate shareholder||– At least one corporate shareholder – One resident director – Minimum SGD 1 paid-up capital – One company secretary (CS) – Registered address in Singapore|
|Subsidiary Company||Holding company with 10% control, follows private limited company rules||– At least one shareholder – One resident director and CS – Minimum SGD 1 paid-up capital – Registered address in Singapore|
|Branch Office||Represents foreign entities, limited tax exemptions||– Single corporate shareholder – Local business agent – Registered address or PO box in Singapore|
|Limited Liability Partnership||Mix of private limited company and partnership firm||– At least two partners – Full-time resident manager – Registered address in Singapore|
|Representative Office||Temporary market analysis, limited employees||– Up to five employees – Sales turnover over $250,000 – Singapore employment pass for relocation|
Why register a Private Limited Company in Singapore?
Private limited companies (PLCs) are a popular legal business structure in Singapore because they offer a number of advantages, including:
- Limited liability: Shareholders’ personal assets are protected from the company’s debts and liabilities.
- Scalability: PLCs can easily scale up or down as needed, making them a good choice for businesses of all sizes.
- Separate legal entity: PLCs have a separate legal identity from their shareholders, which means that they can enter into contracts, sue and be sued, and own property in their own name.
Singapore subsidiaries are a type of PLC that is owned by a foreign parent company. They are separate legal entities from their parent companies, but they share the same ultimate beneficial owners.
Branch offices and representative offices are not separate legal entities from their parent companies. They are extensions of their parent companies and do not have the same rights and privileges as Private Limited Companies in Singapore.
In short, if you are looking for a legal business structure that offers limited liability, scalability, and a separate legal identity, then a PLC is a good option to consider.
Document Requirement for getting Singapore Company Registration
- Company name approval letter
- Memorandum and Articles of Association (MOA & AOA)
- Particulars of directors, shareholders, and company secretary
- Identity copy of Singapore resident or local director
- Details relating to the company’s official registered address
- KYC details including bank reference letter and business profile (optional)
- Passport copy and address proof (for all directors, shareholders, and the company secretary)
- Any other requisite documents as may be prescribed by the concerned law (optional)
Stepwise Process to get Singapore Company Registration
Step 1: Choose a company name and get it approved by ACRA
Give your agent 3-5 company names. They will check if the names are available and register the chosen one with ACRA for 60 days. You can extend this period by another 60 days.
Your company name should be:
- Unique and related to your business activities
- Free of vulgar or obscene words
- Compliant with copyright and trademark laws
Step 2: Gather the required documents
Submit the following documents to ACRA:
- ACRA-approved company name
- Brief description of business activities
- Registered local office address
- Details of shareholders, directors, and company secretary
- For foreign individuals: A copy of passport and proof of residential address
- For foreign companies: Memorandum & Articles of Association (M&A) and Certificate of Incorporation
- If your documents are not in English, have them translated by a certified translator.
Step 3: Submit your application to ACRA
Once you have gathered all the required documents, you can submit your application to ACRA online or through a registered filing agent.
Step 4: Pay the registration fee
You will need to pay a registration fee of SGD300 to ACRA.
Step 5: Receive your Certificate of Incorporation
Once ACRA has approved your application, you will receive your Certificate of Incorporation. This document confirms that your company has been officially registered in Singapore.
Post-Incorporation Tasks for Singapore Company Registration
Following your company’s registration in singapore and before commencing business operations, several crucial steps must be taken:
- Board Resolutions: Shareholders should convene a meeting to appoint directors, auditors, secretaries, and engage company secretarial services. Additionally, they must pass a resolution to establish a corporate bank account.
- Share Certificates: Share certificates, confirming ownership in the company, will be issued by the company secretary.
- Company Seal & Stamp: Procure an official company seal and stamp to lend authenticity to your documents.
- Corporate Bank Account: A visit to Singapore is necessary to open a corporate bank account, ensuring efficient cash management and financial separation.
- Business Licenses and Permits: Prior to business activities, verify and apply for any required licenses or permits, paying the requisite fees through the appropriate authorities or agents.
- Goods and Services Tax Registration: If your company anticipates an annual turnover exceeding S$1 million, seek assistance from your agents to register for GST.
- CPF Submission Number (CSN): Apply for your company’s CPF submission number through the CPF board portal, and top up your CPF account if necessary.
Moreover, If you want any other guidance relating to How to register Singapore company from India, please feel free to talk to our business advisors at 8881-069-069.
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