Incorporation of Company In Singapore

Why incorporate a company  in Singapore ?

  1. Useful for company who want to establish a holding company, set up a regional headquarter, register an international trading company or create an import or export hub.

  2. Setting up a private limited firm is the most relied upon the business structure in Singapore. It is a dynamic and scalable business structure that is conducive to the growth of a business. A Singapore tax resident company does have benefits from the tax exemptions and incentives offered by the authorities.

  3. Singapore has a reputation as a capable shipping and logistic center. If they set their international trading company properly, they can benefit from the tax exemption on the international sales.

    Infrastructure-wise, Singapore is a very capable import and export hub. It has state-of-the-art port facilities as well as it offers great air connectivity to the outside world, especially to the immersing markets of Asia.

How to set up a company in Singapore ?

  1. Choose the right team to assist you. At Zephyr Consultancy Pte Ltd being the leading service provider, would assign a team of qualified professionals including ISCA registered Chartered Accountants and registered management consultants to see your needs for the incorporation of your Singapore company.

  2. Zephyr Consultancy Pte Ltd is the most efficient singapore company incorporation consultant for company incorporation or incorporate a company in Singapore.You are assured of the quality service as well as complies with all the relevant statutory bodies.

Step by Step Guide on How to register a company in Singapore

Step 1 : Select a business structure

ACRA allows 3 type of structure

  1. Private Limited ( PL )
  2. Sole Proprietorship (SP )
  3. Limited Liability Partnership ( LLP )
  4. Public company limited by guarantee ( CLG )
  5. Society
  6. Charitable Trust

Step 2 : Requirement to set up a private limited company

  • Minimum 1 resident director in a company
  • Minimum 1 to maximum 20 sharesholders in a company
  • Require a local registered address in Singapore
  • Appointment of a company secretary within 6 months from the date of incorporation.
  • Minimum paid up capital is a dollar.
  • For a foreigner , he or she needs a valid pass such as employment pass or entrée pass. These passes enable them to work in Singapore. Alternatively he or she can appoint a nominee director for the new company if he or she does not have the intention to relocate in Singapore.

Step 3 : List of documents required for company registration

  • Company name registered with ACRA
  • A description of the business activities
  • Details of Singapore registered address of a company
  • Particulars of shareholder(s)
  • Particulars of director(s)
  • Particulars of company secretary
  • Foreign entreprenuer(s) must submit a copy of passport and residential address proof ( overseas )
  • Foreign companies must submit certificate of incorporation or letter of incumbence
  • Singapore residents must submit a copy of their Singapore identity card

Step 4 : Company Name Reservation

The company name has to be approved by ACRA Singapore. The chances of getting a higher approval rate are as follow:

  1. The name of the company must be unique , easy to read and avoid using vulgar or obsence words
  2. The name should not infringe any trademark in Singapore
  3. Name that does not require third parties approval . Example finance , banking etc

Step 5 : Swift company incorporation in Singapore

Once the name has been approved, the company secretary can carry on with the process of incorporation which should not take too long to complete the process.

Step 6 : Formalities to complete the registration of company

  • ACRA will send an email to inform the owner of the company confirming the successful incorporation of the company.
  • It includes the company registration number. This soft copy is considered a proof of the official certificate of incorporation in Singapore. Should the owner requires a hard copy of it , it can be ordered from the ACRA for a nominal fee.
  • A business profile will be given to the business owner

Step 7 : Opening of a bank account

  • Opening a corporate account in any banks in Singapore is mandatory after company incorporation
  • The major banks you may consider are DBS, OCBC , UOB , HSBC , CITIBANK
  • Bank will perform KYC by insisting the presence

Step 8 : After registration of company and opening of a bank account

Rubber Stamp :
Company needs rubber stamp for all important contracts. In other words, the company’s rubber stamp is an element that lends credibility to all company’s document.

It has the name and registration number of the company engraved on it. The rubber stamp makes the official documents of the company look more authentic and professionals.

Company Seal :
Company seal is needed for all singapore-based company. It is used for documents such as share certificates, loan documents and any legal documents.

Share certificate :
It is the responsibility of the company secretary to issue share certificates to each of the shareholders. It is serve as the proof of their ownership in the company and shows how share has been distributed among the shareholders.

First Board Resolution :
The resolution to appoint directors and other company officials such as auditor etc.

Premium Package

ACRA Registration feeincl. SGD315.00 pay to the Singapore government

ACRA company name check & reservation

Company Business Profile

Company Constitution

First Board of director resolution

Business Package

ACRA Registration fee incl. SGD315.00 pay to the Singapore government

ACRA company name check & reservation

Company Business Profile

Company Constitution

First Board of director resolution

First year AGM

First year annual filing

1 year Central Business District Registered Address

Luxury Package

ACRA Registration fee incl. SGD315.00 pay to the Singapore government
    
ACRA company name check & reservation
 Company Business Profile

Company Constitution

First Board of director resolution    

First year AGM

First year annual filing

1 year Central Business District Registered Address

First year financial statement
( less than 25  txns per year )
    
Unaudited report
( small entity )
    
Preparation of tax report
( small entity )

We provide a comprehensive suite of services for business and companies such as company setup, accounting, bookkeeping services, annual returns filing service, payroll services, accounting software training & set up & etc.