If you are planning on incorporating a company in Singapore then you first need to register a company. In Singapore, there are mainly two types of companies such as public and private companies.
All the public companies are listed on the Singapore Exchange and have more than 50 members. See asset management market here. On the other hand, private companies are the ones that are not recorded on the SGX and have a maximum of 50 members.
As per the Singapore Companies Act, Singapore company incorporation can only be done by people who are above the age of 18 years. Shareholders are the owners of the company. To manage the company effectively, the shareholders can appoint directors.
One of the best country to start your business is no doubt Singapore. You can easily incorporate your company in Singapore with an simple online application selection and a low initial capital requirement.
What you need before incorporating a company in Singapore?
Incorporating a company in Singapore is an easy process but there are few important things that you need to fulfill. Below-stated are few requirements:
Directors
You can appoint an unlimited number of local or foreign directors in your company. However, you need to have at least one person as a resident of Singapore to be appointed as the director.
All the directors should be at least 18 years of age and must not have any record of malpractice in the past.
Shareholders
To incorporate a private limited company in Singapore, you need a minimum of one and a maximum of 50 shareholders. A natural person or a legal entity like another company or trust can be a shareholder.
Company secretary
As per the Singapore Companies Act, you need to employ a qualified secretary within 6 months of incorporation. A person cannot be appointed as a company secretary if he or she is already a shareholder or sole director of the same company.
Paid-up capital
For the registration of a Singapore company, the minimum paid-up capital requires is S$1. You need to know that the paid-up capital can be augmented at any time once the company is incorporated.
Registered address
To incorporate a company in Singapore, you need to have a local and physical address importantly. Remember that the registered address cannot be a P.O. box but can be commercial or residential.
Documents required for incorporating a company in Singapore
Documents required for the incorporation of a company in Singapore are:
- Company name
- Description of business activities
- Company constitution
- Shareholders particulars
- Registered address documents
- Directors particulars
Once you have completed all the document work, it’s time for you to start the business in Singapore successfully. However, if you want to stay away from all the hassles of incorporating a company in Singapore then you can take the help of heysara.sg. This company helps you to incorporate a company in Singapore online within 15 minutes.
So, come and explore the affordable packages of Hey Sara for incorporating a company in Singapore.
