Updated: Jan 18
Incorporating a Company
Company Name Principal Activities Paid-Up Capital Registered Office Address Director(s) ID
- Can a foreigner set up a Company in Singapore?
Yes, a foreigner can can set up his own company in Singapore.
Option 1: Private limited company + Employment Pass
Option 2: Private limited company + EntrePass
Option 3: Appoint one resident director
- How long does it take to register a company in Singapore?
The time it takes to register a company in Singapore is usually within a day. It may take between 14 days to 2 months if the application needs to be referred to another agency for approval or review.
- How do you register a company?
Company Name You may choose to reserve a name first and then register the company later or do the name application and registration at one go.
Directors A company must have at least one resident director in Singapore. This person can be a Singapore Citizen, Singapore Permanent Resident, Dependent Pass holder or an EntrePass holder. Subject to laws and regulations on employment of foreign manpower, an Employment Pass holder may be accepted as a director.
The director of the company must be at least 18 years of age. Directors cannot be bankrupts or persons convicted of dishonesty.
Shareholders A private company has a maximum number of shareholders limited to 50. An Exempt Private Company (EPC) is a private company which has at most 20 shareholders and none of the shareholders is a corporation. There must be at least one shareholder (can be a corporate body or an individual). 100% foreign ownership is allowed.
Company Secretary Every company must appoint a secretary within 6 months from the date of its incorporation.
The company secretary must be residing locally in Singapore and he/she must not be the sole director of the company.
Paid-up Capital The minimum paid up share capital is typically $1 in any currency comprising at least one share. The share capital may be altered or increased, subject to certain conditions. Companies are not required to have an authorized capital which is the maximum value of shares which a company may issue. Generally, a company issues two main types of shares – ordinary shares and preference shares.
Registered Address You need to identify an address to carry out your business. P.O. Box address cannot be used as the business address.
Under the Home Office Scheme, residents are allowed to use their residential address as the business address. This scheme applies to both HDB and private properties. Flat owners/occupiers can seek approval from HDB. Private residential property owners can seek approval from URA.
Taxation 75% on the first $100,000 of normal chargeable income, and a further 50% on the next $100,000 of normal chargeable income will be tax exempt for the first three consecutive YAs.
Generally, the dividends paid by a Singapore resident company and capital gains are not taxable.
- How can I get employment pass in Singapore?
Eligibility for Employment Pass Have a job offer in Singapore. Work in a managerial, executive or specialised job. Earn a fixed monthly salary of at least $3,600 (more experienced candidates need higher salaries). Have acceptable qualifications, usually a good university degree, professional qualifications or specialist skills.
- How much does it cost to register a company?
Company-Related Fees : Summary - ACRA Company Transaction, Fee. 1, Name application, $15. 2, Registration fee, $300.