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How to Register Singapore .pdf



Original filename: How to Register Singapore.pdf

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Amongst the various options of company
incorporation in Singapore, Singapore subsidiary
company can unarguably be said the most
preferred and the most favoured incorporation
type for foreign entities. This is because of the
distinct flexibility it offers, including the ability to
register Singapore Company with the permission to
have the foreign company owning 100% of the
shares while keeping its assets separate.

This means that a Singapore subsidiary company can entirely
be owned by foreign company and is considered a separate
legal entity from the foreign company, thereby the liabilities
are only limited to share capital rather than the entire assets of
the respective parent foreign company.
Another feature that makes it best Singapore company
incorporation option is that subsidiary can be treated as a
local Singaporean company such as a Singapore private
limited. This apparently means that the Singapore subsidiary
company can enjoy same benefits of low tax rates as well as
government grants like any other local company in Singapore.

Proposed Name of Subsidiary
The company name must be approved by ACRA
before the Singapore Company can be
incorporated. ACRA will reject a proposed
company name for the purpose of incorporation
if it is identical to another existing company
name; undesirable or identical to names reserved
by the Minister in its register.

According to Singapore companies act, at least one
local director i.e. a person who is an ordinarily
resident in Singapore such as a Singaporean Citizen,
a Singaporean Permanent Resident, or an
Employment Pass holder is mandatory for registering
subsidiary company in Singapore. Directors must be
at least 18 years of age and must not be an
undercharged bankrupt or convicted for any
malpractices. Foreign companies planning to relocate
any of the staff members from head office to
Singapore can apply for their employment pass after
the registration of Singapore subsidiary is complete.

A minimum of at least one corporate shareholder is
required. A director and shareholder can be the same
or different person(s). 100% local or foreign
corporate shareholding is allowed. The Singapore
Companies Act allows a minimum of one and a
maximum of 50 shareholders for a Singapore Private
Limited Company.

The company secretary must be a natural
person who is an ordinary resident in
Singapore. Appointing a company secretary
within 6 months of company incorporation
in Singapore is mandatory in accordance
with Companies act.

The minimum paid-up capital for the registration
of a Singapore company is SGD 1 or its equivalent
in any other currency. The parent company may
own 100% of the company’s shares. There is no
concept of authorized capital in Singapore.


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