Singapore's company incorporation process is straightforward and can be accomplished without much fuss. You can have a fully registered company within minutes if you have all requirements ready and as long as you're deemed eligible. Singapore carries out firm yet effective laws and regulations, though, making sure the speed and simplicity of the process don't make the entire system less legitimate. This allows all businesses to gain fairly in the system, and prevent others from taking undue advantage of it.
Whether you're a local resident or a foreign investor wishing to register their business in Singapore, you have a fair chance of making it in the country. There are just a few differences in the process for residents and foreigners. For local citizens and permanent residents, they can submit their own company application online as they have their own NRIC number or SingPass. Foreign citizens, on the other hand, would have to apply for an EntrePass from the Ministry of Manpower (MOM) if they're going to be actively involved in the operations of the company.
If you're a foreigner who doesn't intend to stay in Singapore to supervise your company's operations, can submit to company incorporation process without the need to request for an EntrePass. You would just need to have no less than one local resident director, who is a local citizen or permanent resident residing in the state. You can also appoint a nominee director from a company incorporation Singapore services firm to act as your local resident director.
But no matter what your citizenship is, you are eligible to register a company in Singapore if you are at least 18 years of age and not an undischarged bankrupt. Or if so, you must obtain the permission of the High Court or the Official Assignee. You also need at least one shareholder other than the aforementioned resident director. The shareholder and the resident director can be one person if the lone shareholder is a person and not a corporation. Singapore allows 100 percent local or foreign shareholding as well.
Assign a registered office address that is not a P.O. box number as your company's official address. You also have to hire a company secretary within six months of registration. The company secretary must ordinarily be a Singapore resident. Also, Accounting and Corporate Regulatory Authority or ACRA should approve your proposed company name. The corporation name should not be undesirable, not similar to established names or trademarks, and not similar to another existing company name.
Whether you're a local resident or a foreign investor wishing to register their business in Singapore, you have a fair chance of making it in the country. There are just a few differences in the process for residents and foreigners. For local citizens and permanent residents, they can submit their own company application online as they have their own NRIC number or SingPass. Foreign citizens, on the other hand, would have to apply for an EntrePass from the Ministry of Manpower (MOM) if they're going to be actively involved in the operations of the company.
If you're a foreigner who doesn't intend to stay in Singapore to supervise your company's operations, can submit to company incorporation process without the need to request for an EntrePass. You would just need to have no less than one local resident director, who is a local citizen or permanent resident residing in the state. You can also appoint a nominee director from a company incorporation Singapore services firm to act as your local resident director.
But no matter what your citizenship is, you are eligible to register a company in Singapore if you are at least 18 years of age and not an undischarged bankrupt. Or if so, you must obtain the permission of the High Court or the Official Assignee. You also need at least one shareholder other than the aforementioned resident director. The shareholder and the resident director can be one person if the lone shareholder is a person and not a corporation. Singapore allows 100 percent local or foreign shareholding as well.
Assign a registered office address that is not a P.O. box number as your company's official address. You also have to hire a company secretary within six months of registration. The company secretary must ordinarily be a Singapore resident. Also, Accounting and Corporate Regulatory Authority or ACRA should approve your proposed company name. The corporation name should not be undesirable, not similar to established names or trademarks, and not similar to another existing company name.
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