Know Requirements of Registration of Private Limited Company in Singapore

Every foreign company in Singapore needs legal registration through Accounting and Corporate Regularity Authority (ACRA) to run its operation legally in the country. So, if you are planning to register a private limited company as foreigner in Singapore, you need to be aware of all its legal aspects and follow them accordingly. So, if want to do registration of a private limited companyin Singapore, you should know all requirements as well as documentation works involved in the process.

Before you know about requirements to register a private limited company, you need to first know

What is a Private Limited Company?

A Private Limited Company in Singapore is a separate legal entity, which is followed by the ACRA government and has its shareholders too. Also, the company will be liable for taxable income on its own right.

Now let’s take a look on key requirements of a new business registration inSingapore:

1. Company’s Name and its Registration

You should set a decent name of company that should also be accredited with Accounting and Corporate Regularity Authority (ACRA) in Singapore too. Also, you need to mention private Pte with name of company once it gets registered for the same.

2. Company’s Director and Shareholders

It is necessary to employ a Singapore resident director, who should be a Singaporean or has valid business pass or employment pass to work in the country and stay there for business registration process to follow on your behalf. The age of resident director should be 18 years or more. Besides, you can appoint the shareholders of company too, who may exceed in numbers between 1 to 50 maximum.

3. Registered Address Proof of Company

You need to submit details of company’s registered address proof too. Make sure, you have started company at any commercial location in Singapore, where all offices have legal address proofs that should be governed by Singapore government.

4. Paid Capital of Company

A foreign Private Limited Company should have minimum paid capital up to S$1. However, the company having that fund that will also be liable to get tax exemption for initial 2 or 3 years, but under some rules.

5. Company Secretary

There should a genuine company secretary in a private limited company after six month completion of its incorporation too.

Hence, above are some legal requirements of a new company registration in Singapore through legal process.

Now, you should also know about some legal documentary works to be done for registration of private limited company in Singapore:

·         Firstly, you need to fill the registration form with all required details of private limited company and its directors as well as shareholders’ information too.

·         Submit company name registration proof provided by the ACRA authority in Singapore.

·         Draft a document consisting complete business plan of company and its future scope to grow in the industry too.

·         Do submit company’s directors and shareholders’ agreement to avoid any future dispute for ownership of company.

·         You also need to give proofs of company secretary and particulars to ensure about employment in the company after six months of incorporation of organization.

·         Show legal proofs of registration of company with ACRA and IRAS authorities in Singapore too.

Hence, the above are some significant documentary works that need to be completed wisely for making registration of a private limited company in Singapore through genuine ways.