Singapore Private Limited Company Registration
Starting and setting up a business is a big deal – something you might only do once in your life. Don’t risk getting it wrong elsewhere.
What are the benefits of incorporating a Singapore Private Limited Company?
In a nutshell
What is a Private Limited Company?
A Private Limited Company is a legal entity that is separate and distinct from its shareholders and directors; it is also 1 out of the 3 most common entities in Singapore. Unlike public companies, private companies are not listed on the Singapore Stock Exchange (SGX) and must have less than 50 shareholders.
Companies are owned by Shareholders. There must be minimum 1 owner/shareholder in a company. In most cases for small companies, the shareholder is also a Director. Any individual, whether local or foreign can incorporate and register a private limited company in Singapore – so long as they are at least 18 years of age.
How much does it cost to register my company?
The actual registration costs $315, and it comprises of:
- Name reservation & approval – $15
- Company registration – $300
Our incorporation service fee is $598, which includes the above charges that ACRA imposes. The excess covers the other services that are included in your registration package. This is a one-time payment only, and no additional fees apply.
Your Company Registration service includes
How do we support you with your company registration?
Corporate Professionals will do your work
The people doing your registration and incorporation have years of experience. We have incorporated numerous companies and are familar with the entire process. Our knowledge helps you get your registration done fast and according to regulations.
Combination of software and human work
We use our own proprietary software (yes, our own code!) to keep track of your company registration dates, and subsequent annual compliance requirement. Softwares and automation are built by a human, and your account manager will also be your direct contact person.
When you register your Singapore company with us, WE will be your company secretary. A local, Singaporean resident; not an outsourced secretary. He or she is on our payroll, and a person you will communicate with for your company’s company secretary matters.
There are no up-sells, and no additional fees. No automated operators, no chatting bots, and no script to read. Just immediate, and genuine answers.
Appoint us in
3 simple steps
Incorporate a Singapore Company @ $598
Inclusive of all registration fees ($315). No Surprises.
Why we stand out
There are a lot of service providers. Why Leftright Corporate?
Other business entities
Other Business Entities
A Sole Proprietorship is the simplest form of business structure in Singapore. It is mostly only suitable for very small single-owner type business that does not carry any risks.
A LLP is primarily meant for carrying a profession (e.g. accountants, law firms, architects, etc.) where two or more professionals would like to build a joint practice in a common field, and is not suited for businesses that carry a trade.
Frequently Asked Questions
Fortunately, the requirements in setting up a Singapore company is not high. Aside from legal requirements, such as not being blacklisted, not a declared bankrupt and free of past malpractices, any individual, whether foreign or local, at least 18 years of age can register a company.
Thereafter, the following are the basic requirements that are easily met:
- Have an approved company name from ACRA.
- Must appoint at least 1 local resident director (number of non-resident directors does not matter).
- At least 1 Shareholder, and a maximum of 50. Your company can also be 100% owned by a foreigner, or local individual/company.
- Appoint a qualified company secretary within 6 months upon incorporation. Note that if the Company only has 1 director, that director can not also be the company secretary.
- A minimum of SGD $1 paid-up capital.
- Must provide a local Singapore address as the registered address of the company. This address can not be a P.O Box, but can be either a residential or commercial address.
If you meet the fundamental legal requirement, and at least 18 years of age – you are eligible.
We have 2 service packages suitable for foreigners. The main difference would be whether you would like to relocate to Singapore to work, or run your Singapore company overseas.
Before setting up and registering your new company, you would need the following:
- You must have thought of your company name, and it has to be approved before incorporation.
- You need to appoint a qualified resident company secretary within 6 months from setting up your company. By incorporating you new company with Leftright Corporate, we provide complimentary 18 months registered company secretary services. Otherwise, you can view our registered secretary service HERE as well.
- Your company must have a minimum paid up capital of $1. You may increase this amount at any time after incorporation.
- The company must register a local Singapore address. The address can be either a residential or commercial address –– just not a P.O box.
In most cases, even if you are unsure or confused, please do not worry. Our business setup experts will be there to guide or complete the full process for you, according to your specification and requirements.
In order to register and incorporate your Private Limited Company, you would need the following documentations ready:
- A brief description of your business activities
- Director(s) particulars such as NRIC, address, name etc
- Shareholder(s) particulars such as NRIC, address, name etc
- The registered address of the company
- Particulars of the company secretary
Depending on the nature of your business, you may require a business license from the relevant regulatory authority. You may view a summary and example of requirements form our guide HERE.
For example, a restaurant as well as a financial services firm will need a license from their respective regulatory authorities.
Fortunately, bureaucratic hurdles are kept to a minimum in Singapore and most types of businesses do not require a license. Even if a license is required, you can be assured of a quick, efficient and straightforward approval process for your license application.
Upon receipt of all your documentations, and fully understanding your requirement, our incorporation expert would begin the registration process almost immediately.
Usually, it would take no more than 2 hours for your company to be incorporated, and you can begin operations.
For local residents, you can set up your Private Limited Company with a minimum paid up capital of $1. Aside from the paid up capital, you would also need to pay the fees associated with incorporating a company, such as name registration, and the incorporation fee itself.
By engaging Leftright Corporate as your service provider, we’d be able to register your business at a cost beginning from $350 upwards to $598 –– depending on your entity preference.
- All Singapore incorporated Private Limited Companies must appoint a Registered Company Secretary within 6 months from incorporation.
- Set up your business bank account, so you can begin operations and make transactions with stakeholders such as your customers and suppliers.
- Your new company would also be annual compliance matters such as annual returns filing, IRAS tax filings, preparation of financial statements and more.
If you are unsure, or need assistance, you may engage Leftright Corporate SME Business Services, we’d be happy to help.
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