Incorporating a company is the first step to starting your business. But how do you go about it? And what are the requirements that you need to meet?
Ranked as the second best nation to do business in, Singapore is a prime location for foreign investors. Its robust economy, strong legal framework, efficient tax system, and access to the Asian market are all appealing factors for businesses to set up here. However, for a foreigner to establish a business in Singapore, they have to comply with the following Singapore company incorporation guidelines.
A company is a legal entity that has its own distinct identity from the owners, known as members or shareholders. This gives companies a certain level of personhood that they can incur debt, sue or be sued, and own assets. Companies are managed by a team of officers, called directors and secretaries.
The minimum number of shareholders for a private limited company in Singapore is one, and they can be either individuals or another company (up to 100% foreign shareholding is allowed). A local resident director must also be appointed as the company secretary, and it can be a Singapore citizen, permanent resident, or employment pass holder.
The process of registering a company in Singapore can be overwhelming, but it doesn’t have to be. We’ve compiled the 9 essential steps to incorporating a company in Singapore to help you get started. how to incorporate a company in Singapore