Company Registration in Singapore
Get your company incorporated with our team of experts guide you without going anywhere.
Choosing a Business Structure for You
As per ACRA Singapore, we help you to choose a right business structure according to your needs & requirements.
Sole - Proprietorship
An sole proprietorship is a type of business entity that can be owned and managed by an individual, a corporation, or a limited liability partnership.
To be a sole proprietor, you should be :
1. Atleast 18 years old
2. A Singapore citizen / Permanent Resident / FIN Holder
Foreigners residing outside Singapore who wants to register a sole proprietorship can apply for Entrepass Pass and register an ACRA Partnership.
Partnership is a business which can be formed by minimium 2 partners and maximum of 20 partners.
Benefits to open a Partnership Company :
1. Easy to Start
2. Low Operation Cost
3. Quick in Formation
Foreigners residing outside Singapore who wants to register for partnership firm can apply for Entrepass and register an ACRA Partnership Firm.
Limited Partnership ( LP )
A Limited Partnership consists of minimium two partners, with atleast one general partner & one minimium partner. Here, general partner has unlimited liability whereas limited partner has limited liability.
Benefits to open a LP Company :
1. General partners are decision makers and can direct the business.
2. Limited partners are only liable for the investment made for the business.
Foreigners residing outside Singapore who wants to register for limited partnership firm can apply for Entrepass and register an ACRA Limited Partnership Firm.
Limited Liability Partnership ( LLP )
A Limited Liability Partnership gives flexibility for the owners to operate the partnership & is considered as a separate entity unlike other business types.
Benefits of LLP Company :
1. Flexibility in partnership
2. Mandatory to record financial status
3. Cannot be terminated easily
Foreigners residing outside Singapore who wants to register for LLP firm can apply for Entrepass and register an ACRA LLP firm.
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We help you prepare with our complementary visa services before starting a company in Singapore
CorpPass or Corporate Access is a digital identity for businesses in Singapore to interact and transact with government digital services of Inland Revenue Authority of Singapore ( IRAS ) , Ministry of Manpower ( MOM ) & Accounting & Corporate Regulatory Authority ( ACRA ). CorpPass is provided to the businesses.
SingPass is Singapore Personal Access account which helps foreigners to transact with government and private sector digital services. It is personal identity account for individuals.
Entrepreneur Pass / EntrePass & Employment Pass can be obtained by foreigners who wants to register a company in Singapore. We collect the documents and process it with Ministry of Manpower ( MOM ).
Dependent Pass is provided to the eligible family members of Employment Pass, EntrePass and S Pass Holders. It is suitable for the foreigners who would like to start a company in Singapore and settle with their family.
Singapore Business Blogs
This might vary depending on the professional service provider you engage, as the procedures carried out by each provider could differ. Typically, you will be required to provide a notarised identification and address proof of all potential officers of the company, such as the director(s) and shareholder(s). If the shareholder is a corporate entity, the business registration certificate, M&AA, shareholder list and other corporate related documents will be required.
To form a company in Singapore, you must address the following three things. Choose the right business structure, register your company with ACRA (Accounting & Corporate Regulatory Authority) to legally establish your company’s existence and set up a corporate bank account, if necessary.
After you choose the name of your company, you should decide on the type of company you intend to establish.
The types include:
Private company limited by shares
Exempt private company
Public company limited by guarantee
Public company limited by shares
Unlimited exempt private company
Unlimited private company
Unlimited public company
Then you should decide the end date of your financial year and determine what needs to be filed every year. Besides, it is crucial to appoint secretaries, company directors, and other key staff (ie an auditor within the first 3 months of incorporation) as you organize the shareholders and share capital within your business. You will also have to provide the constitution and registered office address.
Private Limited Company: Private limited companies have less than 50 shareholders and their shares should not be accessible to the public. A private limited company has the most flexible business structure. It is a separate legal entity from its shareholders and directors. It enjoys limited liability, shareholders are not liable for debts that are more than the agreed shared capital. You will need to open a corporate bank account for this reason. You can also freely transfer the ownership of the company.
Sole Proprietorship: Sole Proprietorship fundamentally means there are no partners in the business where the owner can earn all the profits but also bear a higher risk if anything happens. The sole proprietorship is not a separate legal entity from the business owner and all the debts of the business are the personal responsibility of the owner due to its unlimited liability. To register as a sole proprietor in Singapore, you must be a Singapore citizen, Singapore resident, or entrepreneur passport holder.
Limited Liability Partnerships(LLP): LLP lets companies operate as partnerships while benefiting from the advantages of a private limited company. LLP is a separate legal entity and partners are not responsible for any loss or liability arising from the business.
Yes! With all the attractive tax benefits, centralised location and business-friendly government policies, Singapore is one of the top countries in Asia for foreign directors or entrepreneurs to expand their business or to newly incorporate one.
With an Employment Pass, foreign entrepreneurs can start their company registration process in Singapore. The Employment Pass (EP) permits foreign executives, managers and individuals to work in Singapore. You are advised to complete your company registration prior to applying for your EP and note that your application is subject to the authorities’ approval.
To avoid any uncertainty or hassle, foreigners should hire a corporate secretary firm like Premia TNC to gain help with the incorporation process on top of other company formation services.
ACRA ( Accounting & Corporate Regulatory Authority ) is the government agency of company registration, financial reporting and corporate services in Singapore.