Common Questions Asked About Singapore Company Formation

in Singapore

With Singapore company formation, there are many options to consider. There are also things that you must do. Here are some common questions asked on this matter.

1. What are the basic requirements for incorporation in Singapore?

The basic requirements and facts are as below:

• Anyone (a local or a foreign person) can register a new Singapore company

• 100% foreign ownership allowed

• Minimum paid-up capital of $1 only

• Concept of authorized capital no longer exists

• Minimum of 1 director and 1 shareholder required

• At least one director must be a local resident director (Singapore citizen, permanent resident, or EP/DP holder)

• Must have a local registered address

• Must have a local qualified company secretary

2. What is the minimum amount of authorized capital for incorporating a Singapore company?

The concept of authorized capital has been abolished and no longer applies for companies incorporated in Singapore.

3. What is the minimum amount of paid-up capital?

The minimum amount of paid-up capital to open a Singapore company is $1.

4. How many directors are required for opening a company in Singapore?

With recent changes to Singapore Companies Act, a Singapore company can be incorporated with a single director. However note that at least of of the directors must be a local resident director.

5. What documents are required from me if I want to incorporate a Singapore company?

Your service provider will typically require the following documents from you:

For each non-resident shareholder/director:

• A passport copy , residential address proof , and bank reference letter

For each Singapore resident shareholder/director:

• A copy of the Singapore ID

• A copy of the passport if foreign citizen

If the shareholder is a corporate entity:

• Copy of the Certificate of Incorporation of the parent company

• A copy of the document showing the registered address and directors of the parent company

Note: You will need to provide officially translated English versions of any documents that are not in English.

Author Box
Demi Carter has 55 articles online

Rikvin is a leading corporate services firm that assists entrepreneurs and investors with the processes required to form a Singapore company, along with a range of other corporate services. Rikvin caters to the needs of foreign investments in terms of Singapore company registration, processing of work visas, and post-incorporation considerations including obtaining business license and permit and compliance matters.

“Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions.” If you are interested in learning more about Rikvin’s Services kindly email us at info@rikvin.com or give us a call at +65 64838887

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Common Questions Asked About Singapore Company Formation

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This article was published on 2011/06/20