Singapore company incorporation is regarded a good business move because Singapore companies are efficient vehicles for tax planning and international business. The main factors taken into consideration when forming a Singapore company concern compliance to requirements for directors, shareholders, a company secretary, registered address, capitalization and taxation.

The Accounting and Corporate Regulatory Authority (ACRA) is a statutory board through which Singapore companies are registered and comprises firms, corporations and private individuals licensed to conduct business for foreign companies.

To incorporate a Singapore company, a name must be proposed for the company to be registered in Singapore and then approved by the registry for Singapore companies. The directors for the Singapore company do not have to be shareholders and must be over the age of 18, at least one of whom must be a holder of a Singapore Dependent Pass, Employment Pass or Entrepass citizen or a permanent resident of Singapore. For incorporation of a Singapore company no restriction is placed on the number of foreign citizens who can be directors of the Singapore company, but none of these directors – local or foreign resident – should be a former convict or bankrupt.

As a Singapore company incorporation rule, the maximum number of shareholders that a Singapore company can have is 50, whereas the minimum is 1. Shareholders can be appointed directors and can be represented in the form of a legal entity (a corporation, company or firm) as well as a trust. Shareholding is not limited to holders resident in Singapore in that 100% of the company’s shares can be owned by foreigners. Once Singapore company incorporation has duly taken placed, it is possible to transfer shares among shareholders holders and issue of new shares at any point during the life of the Singapore company. In addition to minimizing tax expenditure, preserving wealth accumulated over time should be a vital aspect of any long-term financial goal. Our team has presented to possibility of a second citizenship to many international business enthusiasts. We provide reliable support for second passport application procedures. Following the suspension of the program in Grenada, the citizenship by investment programs in Dominica and St. Kitts and Nevis developed into largely sought after avenues for second citizenship. For assistance kindly contact a sales representative via the contact us page provided.

Whenever a Singapore company is being incorporated, a registered address is required as part of the incorporation process. The registered address must be the physical address of a residence or business place in Singapore. Company secretaries are a basic requirement for all companies incorporated in Singapore and should be appointed no later than six months following the company’s incorporation. Company secretaries must be local residents of Singapore and cannot be a director or shareholder of the same company, specifically if the roles of director, shareholder and company secretary are to be fulfilled by the same person.

Based on the requirements discussed previously, company incorporation information to be submitted to Singapore’s companies registry include details on the company secretary, registered address, shareholders and directors, a copy of the Memorandum and Articles of Association, a business description and the name under which the Singapore company intends to operate. Non-resident companies incorporated in Singapore are facilitated with incentives provided by the government, while resident Singapore companies are granted a number of corporate incentives that are not available to non-resident Singapore companies.

If a foreign company wishes to incorporate a Singapore branch, two local agents must be appointed as the local representatives. Representatives are required to be residents of Singapore and could be foreigners holding dependent or employment passes, persons with permanent resident status or citizens of Singapore.