Frequently Asked Questions
Yes, they can. According to the Accounting and Corporate Regulatory Authority (ACRA), in order to set up a company in Singapore, foreigners need to use an incorporation service. This is because they do not have SingPass accounts to register a company by themselves.
Yes, they can. In fact, a Singapore company can be own 100% by foreigners.
Most entrepreneurs choose to set up a private limited company in Singapore. It is a separate entity. Its members have limited liabilities. It is eligible for many tax schemes. This company type brings you utmost benefits, compared to other types of businesses. You can
read more here.
For a company to be formed in Singapore, you have to fulfill at least the following requirements:
- Having a local company
- Having a local corporate secretary
- Having a shareholder
- Having a physical address in Singapore
If you use our incorporation services, you can set up a company in Singapore just with 5 steps: (i) consult our staff, (ii) pick the service package, (iii) make a payment, (iv) provide necessary documents, (v) get the result in 1 day if everything goes smoothly.
When using our incorporation services, you need to prepare documents containing the following information:
- The company’s name (must be unique)
- The company’s business activities
- Details of directors, and shareholders
We will take care of other requirements: details of local-resident director, corporate secretary, local physical address, and company’s constitution.
Your company’s name must be unique, meaning it cannot be the same as existing business names. You can check the availability of your company’s name by using our
name checking tool.
The company registration in Singapore is rather straightforward and fast. Once your application is submitted to ACRA, you can expect to receive the result in just 24 hours. However, if your application needs further approval from another government agency, the processing time can be extended to a couple of weeks.
The Singapore company incorporation cost will depend on what your needs are. Our Basic package will help you cover all the minimum requirements and it cost you US$2,499. But if you’ve already got a local director, the fee will cost less.
According to the Companies Act, every company in Singapore must have and maintain a local director who local resides in the country. When you use a service to hire an eligible person to satisfy this requirement, that person is known as a “nominee director”. He/she will barely take part in your daily management tasks.
Yes, you can. You can get an Employment Pass and move to Singapore to work for your company as a director. At the time you take the job, you will be considered the local-resident director of your company. This means you no longer need a nominee director. Hence, you can become a sole director of your Singapore company.
After incorporation, your company will need to open a bank account to transact with customers and business partners. You can further assign your secretary to register for CorpPass accounts (to transact with the government), CPF (if hiring local staff) and GST (if needed). During its course of operation, your company will also need to comply with the local laws. Annually, it has to file reports to the related government agencies.
