What are the necessities for the formation of a company in Singapore?
It is lucrative to form a company in Singapore because with a value Singapore company formation service you get guaranteed easy and fast company formation without any unnecessary red-tape. Singapore is considered one of the most recommended places for business. Here we discuss the requirements for registering a company in Singapore.
Requirements of company registration Singapore:
- Shareholding: this company should have at least 1 to a maximum of 50 shareholders. Shareholders are either real people or corporate entities. It is allowed to have a complete foreign shareholding.
- Share capital: the minimum capital that needs to be paid-up to form a company is only 1S$. additional capital can be injected into the company at any point to increase its share capital.
- Directors: it is allowed to have residents of Singapore as well as foreign countries as directors in a company of Singapore. It is not permitted to have corporate directors. In a company, there should be at least a director who is a Singapore resident. Singapore resident means a citizen of Singapore or an employment pass holder or a permanent resident of Singapore. Companies that are owned by foreigners have the option of local directors.
- Company secretary: after incorporation within 6 months every company should have a company secretary who is qualified. He should be a person who is a Singapore resident.
- Registered address: the company should have a local address registered in Singapore. This cannot be a PO box.
- Company name: an approved company name is required before registration.
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