Register your Private Limited Company
Starting 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 Private Limited Company?
In a nutshell
What is a Private Limited Company?
A private limited company is a legal entity, separate and distinct from its shareholders and directors. Private companies are not listed on SGX and have a maximum limit of 50 members.
Owners of the companies are known as shareholders. The shareholders then appoint directors to manage the company. According to the Singapore Companies Act, any person (foreign or local) above the age of 18 can register a Singapore company.
Who can incorporate a Private Limited Company?
Any person can incorporate a company, so long as the following requirements are met:
- Your company name needs to be approved before incorporation.
- You need to appoint a minimum of one resident director. An unlimited number of additional resident or non-resident directors can be appointed as well. Both resident and non-resident directors need to be at least 18 years old, not bankrupt, and free of any malpractice charges in the past.
- You can have anywhere between 1-50 shareholders, which may or may not be directors. Shareholders can consist of both local and non-local individuals or companies, and 100% non-local shareholding is allowed. After a Singapore company is incorporated, shares can be freely issued or transferred at any time.
- You need to appoint a qualified resident* company secretary within 6 months of your Singapore company’s incorporation. Sole directors and/or shareholders cannot act as the company secretary.
- You need to possess a minimum of S$1 worth of paid-up capital (also known as share capital) to register your Singapore company. This amount can be increased any time after your company is incorporated.
- You need to provide a local, physical Singapore address as the registered address of the company. The registered address can be either a residential or commercial address, but not a P.O. Box.
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Incorporate a Limited Liability Company @ $850
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