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Can a Foreigner Incorporate a Company in Singapore?

 

Starting a business in Singapore is much easier than you'd have thought. Given that you've all the vital prerequisites documents, you would possibly get completed with it within a day. The country has immense commonity of being a significant worldwide hub for foreign investments and organizations.

 

 

Incorporation of firm in Singapore can be quite a breeze for a foreigner; you just have to know the requirements to look out for and do some read up to have a clearer image on entire process. In this article, we are going to offer you an outline of the requisites needed so that you can set up a company in Singapore. In summary, listed below are the stipulated requirements:

 

 

Singapore Company Incorporation Requirements

 

 

Minimum 1 shareholder

 

1 resident director

 

1 firm secretary

 

Minimum paid-up capital of S$1

 

A local registered office address

 

Appointing a Director

 

It's a requirement for foreigners to appoint a minimum of 1 native resident director to set up their new enterprise in Singapore. A resident director is defined as a Singaporean citizen, a Singapore everlasting resident, or a person who has been issued an EntrePass(Entrepreneur Pass), Employment Pass, or Dependent's Pass.

 

 

This particular person have to be more than 18 years of age and should have no previous records of undischarged bankruptcy. A decision should even be passed by the shareholders to appoint the native director.

 

 

You will also have to interact a Singapore registered filing/ incorporating agent to register your company, as foreigners cannot self-register their company in Singapore.

 

 

Listed below are some of the options on your native director:

 

 

If you do not want to relocate, seek out and employ an area/resident nominee director to do the incorporation

 

In the event you want to relocate to Singapore, interact a registered filing agent e.g. Sprout Asia to incorporate your company first while you apply for an Employment Pass/ EntrePass.

 

Different Firm Registration necessities

 

Earlier than registering, you will have to get your company's name approved by ACRA.

 

 

Next, the next set of documents are wanted to be prepared:

 

 

Signed Consent to Act as a Director for every director

 

Signed Consent to Act as Company Secretary by the corporate secretary

 

Identification and residential address particulars for each shareholder and officer of the corporate

 

Company Constitution

 

Once these incorporation documents have been prepared, you can register your organization officially with ACRA. The registration process is conducted on-line and takes less than an hour. An acknowledgement will be given on the finish of the process.

 

If the application is profitable, ACRA will send you an email comes with the Certificate confirming the Incorporation of your company. You may as well purchase its printed model by paying a fee.

 

 

Typical Cost of Starting a Enterprise

 

 

The cost of utilizing a filing agent in Singapore also includes ACRA (Accounting and Corporate Regulatory Authority) expenses akin to:

 

 

Firm name application: S$15 (reserved for 60 days and there may be additional expenses)

 

Firm registration cost: S$300

 

The Takeaway

 

 

Firm Incorporation in Singapore can turn out to be a really straightforward task provided you observe all the guidelines and procedures correctly. The key right here is knowing the essential details and things to make it more less complicated and hassle free.

 

 

If you have any concerns with regards to in which and how to use register company in Singapore, you can call us at our web site.

Website: https://www.3ecpa.com.sg/incorporation/guide-to-singapore-company-registration/

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