Singapore Company Registration

Singapore is renowned as one of the most business-friendly countries in the world, offering a conducive environment for entrepreneurs and corporations. Whether you’re a local or a foreigner, registering a company in Singapore provides access to a thriving economy, strategic location, and robust legal framework. The country’s advantages include ease of doing business, a low corporate tax rate, tax exemptions for startups, no capital gains tax, and government support through various grants and incentives.

1. Types of Business Entities

The most common business structures in Singapore include:

  • Private Limited Company (Pte Ltd): The most popular choice for its limited liability and separate legal identity.
  • Exempt Private Company Limited by Shares: A special type of private company with no more than 20 shareholders and no corporate shareholders.
  • Unlimited Private Company: A private company where members have unlimited liability for the company’s debts.
  • Sole Proprietorship: Suitable for small-scale operations but lacks liability protection.
  • Partnership: Allows shared ownership but involves shared liability.
  • Limited by Shares: The liability of shareholders to the amount unpaid on their shares. It provides financial protection to shareholders (more than 50), making it a preferred choice for businesses seeking to raise capital while safeguarding personal assets.

2. Requirements for Company Registration

  • Minimum of 1 Shareholder: Can be an individual or a corporate entity.
  • Resident Director: At least one director must be a Singapore resident (Citizen or PR).
  • Company Secretary: Must be appointed within six months of incorporation.
  • Paid-up Capital: Minimum of SGD 1.
  • Registered Address: A local Singapore address is mandatory.

3. Post-Incorporation Requirements

  • Open a Corporate Bank Account: Essential for business operations.
  • Obtain Necessary Licenses: Specific industries may require additional permits.
  • Register for GST: Mandatory if your annual turnover exceeds SGD 1 million.
  • Annual Filing Requirements: Submit annual returns and hold an Annual General Meeting (AGM).