Singapore Companies Act states that every company is required to appoint a local Company Secretary within 6 months of incorporating Singapore Pte Limited Company. The company secretary should be a qualified person and must be an ordinary Singapore resident.
Company secretaries should be responsible for ensuring that the company complies with standard financial and statutory practice and requirements and maintain high standards of corporate governance.
The company secretary’s services is particularly needed for preparation and maintenance of various secretarial documents, which has to be lodged to ACRA.
Advantages of opening a Private Limited Company:
- 1. You and the shareholders are protected on the liability to the extent of Share Capital contributed.
- 2. Company is a separate entity different from you.
- 3. Singapore government is giving full corporate tax exemption for up to SGD$100,000/- profit on the first 3-year profit for newly incorporated and qualified companies.
- 4. Private Limited company is scalable and easy to raise capital from investors.
- 5. Private Limited company is credible and easy to gain contracts from major players.
Documents needed for incorporating a company:
- One Proposed Company Name
- Maximum 2 Business Activities company will be involved and industry.
- Paid up Share Capital (Minimum SGD of S$1/- per shareholder)
- Share Structure (Details of number of shares issued to each shareholders)
- One Company Secretary.
- One Local Registered Address for your Company Registration
- IC copy for local directors and shareholder or passport copy for foreign directors and shareholder
- Company Email address or Managing Director Email address.
- Company Contact Number
- For Foreigners – as per compliance, 1 local director (a Singaporean or a Singapore Permanent Resident) is required. (We can introduce a Nominee Director to act as your company’s local director if you required)
Our Package Includes:
- Company name check prior to company Incorporation.
- Company Registration
- 1 year Company Secretarial Services fee
- Company Constitution
- Share certificates made to shareholders
- Self-inking rubber stamp
- E-notice incorporation from ACRA
- Minutes of first board meeting
- Preparation of Resolution for opening of bank account.