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Company Registration Requirements in Singapore

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Company Information

Why Singapore is the Best Place for Company Setup?:

Singapore provides an exceptionally conducive environment for companies seeking new opportunities in the Asia region. Its robust regulatory framework, combined with a stable political and economic structure, a pro-business government, and a well-established judicial system, has created an ideal platform for investment. As a result, Singapore has become a major hub for commerce, finance, and wealth management. Renowned for its high government efficiency and competitiveness, Singapore boasts the most transparent legal and regulatory regimes in Asia. The World Bank and other organizations consistently rank Singapore as the easiest place to do business globally. Additionally, the country has a highly educated and skilled workforce proficient in English and multiple Asian languages.

With one of the lowest corporate tax rates in the region at 17%, along with various tax schemes and incentives, Singapore is one of the best countries in Asia for business growth. Corporate tax on foreign-sourced dividends, branch profits, and service income can be minimized or even exempted if certain conditions are met. With over 80 double tax treaties, Singapore has one of the most comprehensive networks in the world, allowing residents to benefit from reduced rates of withholding tax on profit repatriation from cross-border investments. The absence of capital gains tax and withholding tax on dividend payments to non-residents makes Singapore an excellent location for establishing a holding company for cross-border investments.

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Requirements for Singapore Company Registration

01
Shareholders: A company must have 1-50 shareholders, who can be local or foreign, and can be either natural persons or corporate entities
03
Share Capital: The minimum paid-up capital required to set up a company is S$1, with the option to increase it at any time through additional capital injection.
05
Directors: Both local and foreign persons can be directors, but corporate directors are not allowed. A minimum of one director must be a Singapore resident (citizen, permanent resident, or Employment Pass holder).
07
Company Secretary: A company must appoint a company secretary who is a resident of Singapore within six months of incorporation.
02
Registered Address: Each company must have a local registered address in Singapore (not a PO box) where all statutory documents are kept.
04
Company Name: The company name must be approved before the registration process can proceed.

Process of Company Incorporation in Singapore

1
Company Name Approval:
2
Approval Time:
3
Name Reservation:
4
Documents Preparation:
5
AML Compliance:
6
Language Requirements:
7
Company Registration:
8
Company Approved

Documents Requirements for Company Registration in Singapore

For Individual Shareholders

For each Officer, Shareholder, and Beneficial Owner of the proposed company, the following documents are required:

  • Copy of passport
  • NRIC or Residency card (for Singapore residents only)
  • Proof of residential address (e.g., driver’s license, recent utility bill, rental agreement)
  • Brief professional background, such as a curriculum vitae (CV), resume, or a link to the individual’s LinkedIn profile

For Corporate Shareholders

If the shareholder is a corporate entity, the following documents are necessary:

  • Certificate of Registration issued by the Registrar in the jurisdiction where the company is registered
  • Company Extract from the Company Registrar in the jurisdiction where the company is registered, including the following details:
    • Company’s name, registration number, and registered address
    • Paid-up capital and particulars of all shareholders and directors
    • Business activities of the company

Authorized Person Resolution passed by the director(s) of the shareholding company, including the following:

  • Authorization to hold shares in the proposed Singapore company
  • Appointment of an authorized person to sign the Singapore company formation documents on behalf of the shareholding company

Ownership structure chart identifying the Ultimate Beneficial Owners (UBO) of the shareholding company. Identification documents for the key UBOs may be required for KYC due diligence.

Our Service Coverage

After Company incorporation, you will receive below documents

  • Company Certificate of Incorporation
  • Memorandum of Association & Article of Association (MOA & AOA)
  • PAN Card and TAN Allotment
  • EPF & ESI Registration
  • Digital Signatures (Class 2)
  • Directors Identification Number (DIN)
  • Assist in Bank A/c Opening
  • Professional Tax Registration (in Maharashtra Only)
  • GST Registration (Optional)

Faqs

• What documents are needed for individual shareholders during the incorporation process?
  • A.Individual shareholders need to provide a copy of their passport, NRIC or Residency card (for Singapore residents), proof of residential address (such as a driver’s license, recent utility bill, or rental agreement), and a brief professional background (in the form of a CV, resume, or LinkedIn profile link).
What type of residential address proof is acceptable for individual shareholders?
  • A.Acceptable proofs include a driver’s license, a recent utility bill, or a rental agreement.
Are there any specific requirements for Singapore residents who are individual shareholders?
  • A.Yes, Singapore residents must provide a copy of their NRIC or Residency card
What documents are required from corporate shareholders?
  • A.Corporate shareholders need to provide a Certificate of Registration, a Company Extract from the Company Registrar, an Authorized Person Resolution, and an ownership structure chart identifying the Ultimate Beneficial Owners (UBO).
What information must be included in the Company Extract for corporate shareholders?
  • A.The Company Extract must include the company’s name, registration number, registered address, paid-up capital, particulars of all shareholders and directors, and the business activities the company is engaged in.
What should the Authorized Person Resolution for a corporate shareholder contain?
  • A.The Authorized Person Resolution should authorize the holding of shares in the proposed Singapore company and appoint an authorized person to sign the formation documents on behalf of the shareholding company.
Why is an ownership structure chart needed for corporate shareholders?
  • A.The ownership structure chart is needed to identify the Ultimate Beneficial Owners (UBO) of the shareholding company, which is essential for KYC due diligence.
What identification documents are required for Ultimate Beneficial Owners (UBO)?
  • A.Key UBOs may need to provide identification documents for KYC due diligence. These documents typically include copies of passports and proofs of address
What professional background information is required for individual shareholders?
  • A.A brief professional background is needed, which can be provided in the form of a curriculum vitae (CV), resume, or a link to the individual's LinkedIn profile.
Is there a specific format for the Certificate of Registration for corporate shareholders?
  • A.The Certificate of Registration must be issued by the Registrar of the jurisdiction where the company is registered. There is no specific format, but it must be an official document from the Registrar.
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Navneet K Arora & Co LLP

Effects India, where professionalism meets excellence. Established in 1995, we have built a reputation for delivering comprehensive consultancy services across diverse industries. Our team comprises dedicated professionals including Company Secretaries, Chartered Accountants, Advocates, Solicitors, Management Professionals, and IT Experts, all committed to providing top-notch solutions tailored to your business needs.

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