Setting Up in Singapore

So you’re setting up a private limited company?

Here is our guide on the necessities and practicalities in setting up a Private Limited Company in Singapore. Please feel free to reach out if you have further queries

Key Legal Requirements

Directors

A minimum of 1 director is required and you must also have a director who is a permanent resident in Singapore. Directors must not be bankrupt or convicted of any malpractice.

Shareholders

A shareholder can be either a person or a legal entity, and you can have anywhere from 1 to 50 shareholders. There is no requirement to have a resident Shareholder.

Company Secretary

You are required to have a Company Secretary who is both a resident in Singapore and suitably experienced with the statutory requirements. If you have only 1 director, they cannot also be the Company Secretary.

Paid-up Capital

There is no minimum paid up share capital requirement. You can also have share capital denominated in currencies alternative to SGD.

Registered Address

Your registered business address must be a physical address and not a P.O. Box. In most cases it should also not be a residential address.

Registration steps and timeline

Company registration is done online via ACRA (Singapore Company Register). You will also require a CorpPass, and you must be a Singapore resident to hold this.

Download the setup guide

Key Compliance Headlines

  • The company must hold its first AGM within 18 months of incorporation, and file its annual return within one month thereafter
  • Following that, each AGM must be held within 6 months of the financial year end
  • Tax returns are to be filed by November 30 of the year following the financial year end
  • Estimated chargeable income is to be filed with the tax office within 3 months of the financial year end
  • Financial statements are required to be audited if 2 of the following 3 conditions are met:
    a) More than SGD 10M in revenue;
    b) More than SGD 10M in assets;
    c) More than 50 employees

Still a bit unsure about the process?

Please feel free to send us a message, and one of our team from our office nearest to you will get in touch to help you build your successful new business

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