Frequently Asked Questions
You will need to take note of the following;
1. Appoint one Corporate Secretary for the company who is a natural person and a resident in Singapore.
2. Appoint one Resident Director who is a citizen, permanent resident or holds a valid employment pass in Singapore.
3. At least one Shareholder – company can be 100% foreign owned.
4. Registered paid up Capital requirement is a minimum of S$1.00.
5. You will need to open a corporate bank account preferrable with a local bank.
6. You will need a business Registered Address; this is required at the point of incorporation.
The actual procedure will take up to 1 workday provided there are no objection or query to the application from the authority (ACRA). Kindly refer to our step-by-step guide for further details.
– A natural person.
– Locally resident in Singapore.
– A trained professional.
This position is commonly outsourced to a professional services provider.
A private limited company needs to appoint at least one Resident Director who is a citizen, permanent resident, or an Employment Pass holder. There can be more than one director in the company
A foreigner can fully own a Singapore company 100%. A foreigner can setup a company in Singapore provided that he is not a bankrupt or have been convicted of any legal offence. Foreigner holding a Permanent Resident (PR), Employment Pass(EP), EntrePass, Dependent Pass can register a company and be its shareholders.
An Employment Pass holder can be a director of a company subjected that he has written approval from his/her current employer. This is rare and please note that the individual may be subjected to queries from the Ministry of Manpower, and his/her Employment Pass status may be at risk when renewal is due.
Yes, it is possible for you to relocate to Singapore and be appointed as the Resident Director of the company. However, a foreigner will need to apply for a valid work permit or Employment Pass (EP) in order to legally work here in Singapore so long as he/she meets the requirement. A Employment Pass (EP) holder can then be appointed as the Resident Director of the company.
No that is not required, it is possible for you to setup the company via the support of a professional services company here in Singapore.
Yes that is possible so long as the entity remains compliant by ensuring its accounts are managed and the relevant mandatory compliance filings are properly managed.
You can find out more from the STARTUP BIZ CONSULTANTS (SINGAPORE) Step-by-Step Incorporation Guide. It is important that you get familiarized and strategize your plans accordingly, otherwise, please seek advise from a professional services provider to ensure you have all areas covered.
This can be easily managed by engaging STARTUP BIZ CONSULTANTS (SINGAPORE)’s Nominee Director services. This can be both an interim, until you have recruited your own director, or on a long-term strategy for as long as it is required.
There can be more than one director in a company. The Nominee Director that we provide does not get involved in the managing or any commercial matters of the Singapore entity , you can be appointed as the Foreign Executive Director and have total control over how the business is being manage.
It is mandatory to register for Goods and Services Tax (GST) when your taxable return is $1 million and above.
Depending on the volume of transactions, you are required to conduct quarterly, half yearly or annual GST filing to the tax authority (IRAS).
Please refer to the STARTUP BIZ CONSULTANTS (SINGAPORE) guide on What you need to know when applying for an Employment Pass (EP).
You can consider applying for a Dependent Pass for your family and Spouse that is tagged to your Employment Pass.
That is technically possible. However due to AML/CFT regulations, you will require total disclosure of all beneficial owners and controllers of a company in a Private register. These records is accessible to all law enforcement agencies but not to the general public.