Register a Singapore Company—Overview

As one of the fastest growing economies in the world, Singapore has become a viable environment
for local and foreign businesses.  Aside from this, the city-state is providing countless of tax
incentives and financial assistance programs for entrepreneurs to further encourage them to register
a Singapore company.

These are the important things for entrepreneurs planning to setup a Singapore company:
 Filing a company name  

File the company name to the Singapore Company Registrar office and include its patent’s name,
trademark, and existing business abroad if there is any.

For foreign entrepreneurs planning to have a Singapore representative office, they should
provide a copy of passport and proof of overseas residential address.

Aside from the company name, entrepreneurs should also provide a short description of their
business and a physical address of their Singapore company.
 Formation of directors.  

For any business arrangement (except the sole proprietorship), it is important to have at least one
resident director who may be a Singaporean resident, a holder of permanent residence status, or a
holder of Singapore Employment Pass, Dependent Pass, or Singapore Entrepass.  

A person can be a director of a company even if he is not shareholder.  However, he should be at

least 18 years old, has no criminal records, and has not filed bankruptcy in the past.

Meanwhile, the company directors should be individuals rather than a business entity.
 Formation of Shareholders.  
For a private limited company, there should be at least one to 50 shareholders who can be an
individual or another business entity.

Most businesses in Singapore choose the private limited arrangement since it protects the personal
assets of shareholders and only the business assets will be dissolved in case of bankruptcy.
 Designate a company secretary

Under the Singapore Companies Act, a business entity should designate a qualified secretary within
six months after its incorporation.  Take note that the secretary should be a Singaporean citizen and
should not serve as the shareholder and sole director of a company.

One of the advantages of incorporating a business is the tax incentive which includes non-double
taxation which means that once the tax has been deducted from the corporate level, shareholders
can receive their dividends tax free.  Another advantage is the tax cap of 18 percent for companies
with an annual profit of more than S$300,000.

However, it is a requirement for an incorporated business to hold a meeting on an annual basis.

 Provide a company address
To register a Singapore company, it is a requirement to provide a local address which may be a
residential or commercial place.