A Singapore citizen, Singapore Permanent Resident or EP holder who is residing in Singapore.
Typically the following documentation will be required:
* Any documents that are not in English must be officially translated into English.
Yes, there are no restrictions prohibiting an individual assuming both roles.
A company is a business entity registered under the Companies Act, Chapter 50. Most companies in Singapore are private companies limited by shares and are recognized by the suffix “Pte Ltd”.
Shareholders
own the company and are entitled to the profits of the company.
Directors
Manage and oversee the company’s operations, and deal with everyday responsibilities.
A director can hold the position of company secretary only if he or she is qualified to do so, and the company has more than two directors and the director is qualified to do so.
Maximum number of shareholders is limited to 50 and the constitution restricts the right of its members to transfer their shares in the company.
A private company limited by shares can be classified as a exempt private company.
The key characteristics of an exempt private company is:
It is also exempted from prohibitions against loans to its directors or to companies related to its directors.
A private company limited by shares must have at least one shareholder and no more than 50 shareholders.
Yes, all Singapore companies and subsidiaries need to have a registered address in Singapore.
This will depend on the specific bank of your choice. A corporate bank account can often be opened without your physical presence. However, this is usually established on a case-by-case basis.
| Case 1 | Case 2 | Case 3 | Case 4 | |
|---|---|---|---|---|
| Director | ||||
| Nominee Director | ||||
| Shareholder | ||||
| Secretary | ||||
| Authorised Signatory / Approved Person (AP) | ||||
| Case 1 | Approved Person = Foreign Director, with Nominee Director [1 Foreign Director + 1 Local Director + AP] |
| Case 2 | Approved Person = Foreign Director, without Nominee Director [1 Foreign Director + 1 Foreign Director + AP] |
| Case 3 | Approved Person = Shareholder, with Nominee director [1 Local Director + 1 Foreign Director + AP] |
| Case 4 | Approved Person = 3rd Party, with Nominee Director [1 Local Director + 1 Foreign Director + AP] |
* Approved Person = Authorised Signatory, AP
* "[ ]" Required person who need to attend a bank meeting
Yes, but this will depend on your choice of bank and the specific account chosen.
No, this can only be done once your company has been incorporated.
Singapore has a wide range of reputable and international banks, including:
Yes, once your company is incorporated, you will be able to open a corporate bank account subject to bank approval.
