How to Incorporate a Company in Singapore?
Singapore, with its top-notch business prospects, flexible tax system, excellent infrastructure and favorable government policies, is one of the best places to incorporate a company. In addition to this, the country also offers stability in the political climate, the absence of red-tapism, a strong regulatory framework and well-organized capital markets.
What more, incorporating a company in Singapore is simple and fast. At Jaanik, we will make sure that your company is incorporated with no hassles and all the laws, regulations and statutes are adhered to.
Company Incorporation Services Package
When you incorporate a company in Singapore, you need to ensure that you have the perfect team to help you with your various requirements. We will enable you to get in touch with the right team of Chartered Accountants, company secretaries and accredited tax practitioners with a click of your mouse. With our team taking care of the company registration services, you can fully devote your energies to the planning, finances and marketing of your new company. Here are the company incorporation services packages we offer:
Our package for Foreign Entrepreneurs with Employment Pass helps professionals from foreign countries to establish a company in Singapore and relocate here. To be eligible for this, you need to have a degree and a suitable working experience.
If you seek to establish an offshore company in Singapore and relocate here to manage your company’s operations, our Foreign Entrepreneur With EntrePass package will suit your needs. In addition to having a degree qualification, you need to be innovative and an achiever in your area of expertise to obtain this pass.
If you seek to run your business in Singapore without relocating from your home country, you can go for the Foreign Entrepreneur Without Relocation package.
In case, you happen to be a local who desires to establish a company here and have your own Singapore local director, you will be eligible for the Local Entrepreneur package.
While incorporating a company in Singapore, you will need at least one nominee director who is a resident of Singapore. Since the nominee director also acts as the local director, he/she will have to undertake a lot of responsibilities if the foreign director is not available. Therefore, you will need the right person for this job. At Jaanik, we will provide the best of nominee director services to you. Our nominee director will be a competent local resident with the right skillset to fulfill his/her duties and follow the guidelines of the Companies Act. They will have extensive knowledge of the compliance requirements and understand their duties and responsibilities.
How to Register Your Company in Singapore?
We will ensure that your registration is done quickly and smoothly as possible so that you can focus on your business operations. The following steps will help you understand how to incorporate a company in Singapore.
Minimum Requirements for Registration
You will need a physical registered office address, a company secretary, a resident director, a shareholder and a minimum capital of at least $ 1.
Information Required by Service Provider Before Incorporation
We need the following information before we can work on incorporating your company:
- Proposed name of the company, which should not be identical to the name of an existing company or be similar to the existing trademarks
- You need to have at least one individual shareholder or corporate. Note that 100 percent local or foreign shareholding is permitted.
- Provide information on the company’s governance structure and the relationship between the company and its shareholders
- Description of the company’s principal activities
- Your company is required to have at least one director who is a resident of Singapore. Apart from Singaporean citizens and PRs, people with Employment Pass/EntrePass who have a residential address in Singapore are also considered residents. The director needs to be at least 18 years old.
- As per the Singapore Companies Act, you should appoint a company secretary within six months of incorporation. This secretary should be a Singapore resident and ensure regulatory compliance.
- Details on the source of funds to be used in the company’s business and location of customers and suppliers
After we have all these details, we will quickly begin the process of incorporating your business. If you visit us in person, provide the information and make the required cash payment, your company will be incorporated in a matter of hours. Alternatively, we suggest communication by email, which is less time-consuming for you.
How Do We Incorporate Your Company Via Email?
Here are the steps for company incorporation through email:
- View and complete the Singapore Company Online Incorporation Form
- Email us the required details. If you happen to be a local, submit your copies of passport or NRIC. If you are a foreigner, submit proof of your National Identity Card and your foreign residential address. If you are a corporate shareholder, submit your Certificate of Incorporation and Memorandum & Articles of Association.
- After you provide us with your company’s proposed name, we will check for its availability and get back to you within a short period.
- After we have confirmed the availability of the company’s name, we will send you an invoice for payment. As soon as we receive the payment, we will reserve your company’s name.
- As a next step, our experts will email you all the documents needed for signatures. You will need to send us the scanned documents after signing them. Upon receipt of these, we will verify your identity.
- After verification is complete, your company will be incorporated with the Accounting & Corporate Regulatory Authority of Singapore (ACRA).
- After setting up your company, we will issue all the corporate documents including the share certificates of all the shareholders, common seal and statutory registers
- We will also prepare company resolution and advise you on the current banks in Singapore to open an account
Our staff, with their sound knowledge, capability and experience will ensure that your company incorporation process will be completed in around 3 to 5 days. We provide affordable rates with exceptional services. Contact us now for your company incorporation in Singapore.