How to Register A Company in Singapore
To start running a business in Singapore, there are several options for Singapore residents, foreign companies and foreign individuals. Each comes with different options. For example, the options available for Singapore residents differ from the options available for foreign companies.
Company Registration Options in Singapore
For Singapore Residents and Foreign Individuals
The most popular business entity for Singapore residents is Private Limited Company. When choosing this entity, it offers you a major benefit, which is a separate legal identity from its directors and shareholders. The requirements for this entity establishment are rather simple. Entrepreneurs are to prepare a minimum paid-up capital of SGD 1, a resident director, a company secretary, a minimum of 1 shareholder and an office address registered in Singapore.
For a more flexible option, local residents can opt for Limited Liability Partnership, which offers a combination of Private Limited Company and Partnership. To establish this entity, the requirements are 2 partners (minimum), a resident manager and an office address registered in Singapore.
As for foreign individuals, they are allowed to incorporate Private Limited Company (with the same afore-mentioned requirements). Foreign shareholders can establish a company, but will need to employ a local resident director.
For those interested in relocating to Singapore, can apply for an Employment Pass (EP) once their new company is established. The Employment Pass will serve as a temporary residence card as well. With EP, they can become a director. Prior the EP issuance, they can employ a local resident director or nominee resident director.
Alternative is to apply for an Entrepreneur Pass. For the application, foreigners need a good business plan and promise of funding from a qualified institution. With Entrepreneur Pass, foreigners can establish a company and become the director right away. The process is more complicated than establishing a regular company. So, many entrepreneurs prefer to set up a company first and apply for an employment pass later.
Finally, business people who have no intention to relocate to Singapore but want to incorporate a company in Singapore will appreciate the option to engage a non-active Resident Nominee Director for the company.
Company Registration Singapore – For Foreign Companies
Subsidiary Company may be the best option for foreign companies who would like to expand businesses to Singapore. If a foreign company is not interested in relocating to Singapore, they can choose to establish a Subsidiary Company by appointing a resident director. This way, it can run its business operations from overseas. However, if a foreign company is looking to migrate to Singapore, it can opt for a Subsidiary Company that comes with a relocation package.
Other available options for foreign companies include the establishment of Representative Office and Branch Office. Unlike Subsidiary Company, a Representative Office serves as an administrative office. Thus, commercial activities that generate any profits are not allowed. The requirements for setting up a Representative Office include a minimum of USD 250,000 for sales turnover of the foreign entity and the existence for over 3 years.
Branch Office is similar to Subsidiary Company, it is for foreign companies that want to relocate staff from head office to the branch office in Singapore. Requirements for Branch Office incorporation include 1 corporate shareholder, 1 resident agent and an office address registered in Singapore.
Establish a company in Singapore today. Get started by filling in the form below.