When it comes to incorporating a business in Singapore, one has to get the entity registered with the Accounting and Corporate Regulatory Authority (ACRA) and follow the rules and regulations laid down under the Companies Act. The statute offers five different entity formats that you can choose from; however, the most common and flexible type of business entity that can be set up in Singapore is a Private Limited Company. This blog post will provide you with brief details of all the papers needed to incorporate the same.
You will first need to file for approval of the name of the company that you wish to incorporate with ACRA. A stipulated fee is required to be paid for the same. The approved company name is reserved by ACRA for your company incorporation for a period of 60 days post processing of your application. For the process of incorporating a private limited company in Singapore, the following set of documents are required to be filed with ACRA along with registration fees:
- Document of approval of your selected company name from ACRA.
- Description of proposed business activities as per Singapore Standard Industrial Classification Code (SSIC) 2010.
- Details of shareholding pattern and paid-up capital – a company in Singapore can be incorporated minimum paid up capital of S$1.
- Particulars of shareholders including holding pattern and identification details (Passport).
- Particulars of directors and passport – at least one director of the company should be ordinarily resident in Singapore.
- Registered address details of the company.
- Details of Company Secretary – every private limited company in Singapore must appoint a Company Secretary within six months of incorporation.
- Memorandum and Articles of Association as per prescribed standards from ACRA.
The company is usually incorporated within 15 minutes of completion of the fees payment process. For more information or assistance regarding the same, visit LCCGlobal.com.