Malaysia Hotline : +603-2141 8908
When considering the registration of a new company or
relocation of your existing company to Singapore, note that most Singapore
companies are registered as private limited liability companies (commonly known
as private limited companies). A private limited company in Singapore is a
separate legal entity and shareholders are not liable for the company’s debts
beyond the amount of share capital they have contributed (hence the term limited
liability). According to the Singapore Companies Act, any person (foreign or
local) above the age of 18 can register a Singapore company.
Singapore Company
Registration General Requirements
1. At least one local director who has to be a Singaporean,
or Singapore PR, or Singapore employment pass holder;
2. At least one shareholder and no any national restriction.
3. Minimum paid up capital is S$1
4. Incorporation time ranges approximately from 1 day to 5
days depending on time taken for name approval.
Pre-registration of
Singapore Company
1. Company Name
The name must be approved before incorporation of the
Singapore company can occur. The name search must be done.
2. Directors
A minimum of one resident director (a resident is defined as
a Singapore Citizen, a Singaporean Permanent Resident, or a person who has been
issued an Entrepass, Employment Pass, or Dependent Pass) is mandatory. There is
no limit on the number of additional local or foreign directors a Singapore
Company can appoint. Directors must be at least 18 years of age and must not be
bankrupt or convicted for any malpractice in the past. There is no requirement
for the directors to also be shareholders,
i.e. non-shareholders can be appointed directors.
3. Shareholders
A Singapore private limited company can have a minimum of 1
and maximum of 50 shareholders. A director and shareholder can be the same or a
different person. The shareholder can be a person or another legal entity such
as another company or trust. 100% local or foreign shareholding is allowed. New
shares can be issued or existing shares can be transferred to another person
anytime after the Singapore company has gone through the incorporation process.
4. Company Secretary
As per Section 171 of the Singapore Companies Act, every
company must appoint a qualified company secretary within 6 months of its
incorporation. It has to be noted that in case of a sole director/shareholder,
the same person cannot act as the company secretary. The company secretary must
be a natural person who is ordinarily resident in Singapore.
5. Paid-up Capital
Minimum paid-up capital for registration of a Singapore
company is S$1. Paid-up capital (also known as share capital) can be increased
anytime after the incorporation of the company. There is no concept of
Authorized Capital for Singapore companies.
6. Registered Address
In order to register a Singapore company, you must provide a
local Singapore address as the registered address of the company. The
registered address must be a physical address (can be either a residential or
commercial address) and cannot be a P.O. Box.
7. Taxation
Singapore registered companies enjoy very attractive tax
exemptions and incentives. Your company pays less than 9% for the first
S$300,000 annual profits and 17% flat after that. There are no capital gains or
dividend taxes on Singapore companies. Excellent tax benefits and business
reputation of Singapore are the key reasons why entrepreneurs from around the
world prefer to form a company in Singapore. For further information on taxes, kindly refer to the Singapore corporate tax guide.
Singapore Company
Registration: Required documents
Information required by
the company registrar:
1. Company Name
2. Brief Description of Business Activities
3. Shareholders Particulars
4. Directors Particulars
5. Registered Address
6. Company Secretary Particulars
7. Memorandum and Articles of Association (MAA). Singapore
Company Registrar provides a standard MAA document that is suitable for most
instances.
Singapore Company
Registration Procedure and Processing Time
Company registration procedure in Singapore is fully
computerized by the Singapore Registrar of Companies. As a result, the
Singapore incorporation process is quick and efficient without any bureaucratic
red-tape involved. Under normal circumstances, the company can be incorporated
in 1-2 days. There are two distinct steps involved in the Singapore company
setup procedure: a) Company Name Approval and; b) Company Registration. Both
steps can be accomplished on the same day assuming there are no delays caused
by Company Registrar.
1. Name Reservation
To set up a Singapore company, the proposed name for the
company must be approved first. Company name approval is obtained by filing the
application with the Company Registrar. The service firm you have chosen to
register your company will do it for you as the first step in the incorporation
process.Generally the name approval/rejection notification comes through in
less than an hour unless the proposed name has some certain words (such as
bank, finance, law, media, etc.) that might require the review and approval of
a corresponding external government authority. If the name is referred to an
external authority, the name approval may get delayed by few days or weeks.
2. Registering
Company
Once the name has been approved, the filing of the
incorporation request as well as the approval from the Registrar of Companies
can be completed in a few hours assuming incorporation documents are ready and
have been signed by the directors and shareholders of the new company.There are
cases when the incorporation procedure can get delayed if the shareholders or
directors are of certain nationalities, although this happens in rare cases
only. In such cases, the authorities might ask for additional information.
Tannet Malaysia is an international company based in Hong Kong, Shenzhen. We provide various business services from business incorporation to operation, management to business extension and to oversea such as international company registration, global trademark application, commercial company secretary services and etc. Please contact us for more information if you are interested on our other services.
Contact us
If
you have further queries, please contact Tannet
24
hours Malaysia hotline：603-21418908;
24
hours Hong Kong hotline：852-27837818;
24
hours Shenzhen hotline：86-755-
36990589;
Email:
mytannet@gmail.com
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my