Requirements for Starting a Limited Liability Company in Singapore
Company Name: The proposed name must be unique and not identical to any existing company names. It should not contain any prohibited words or phrases.
Directors:
At least one director must be a resident of Singapore (a Singapore citizen, permanent resident, or holder of an Employment Pass).
There is no limit on the number of directors, but at least one must meet the residency requirement.
Shareholders:
A minimum of one shareholder is required, and a maximum of 50 shareholders is allowed.
Shareholders can be individuals or corporate entities, and they can be residents or non-residents.
Paid-up Capital: The minimum paid-up capital is SGD 1, but it can be higher depending on the business needs.
Registered Address: The company must have a registered office address in Singapore, which cannot be a P.O. Box.
Company Secretary: A company secretary must be appointed within six months of incorporation. The secretary must be a resident of Singapore.
Business Activities: The company must specify its business activities, which should be in line with the Singapore Standard Industrial Classification (SSIC) codes.
Needed Documents for Company Registration
Company Name Application: A proposed name for the company.
Identification Documents:
For individuals: Copy of NRIC (for Singaporeans) or passport (for foreigners).
For corporate shareholders: Certificate of incorporation and business profile.
Constitution of the Company: The company\u2019s constitution (previously known as Articles of Association).
Consent to Act as Director and Secretary: Signed consent forms from the appointed directors and company secretary.
Registered Address Proof: Documentation to prove the registered office address (e.g., lease agreement).
Step-by-Step Procedure for Submitting Documents
Choose a Company Name: Check the availability of the proposed name using the BizFile+ portal.
Prepare Required Documents: Gather all necessary documents as listed above.
Register the Company: Go to the BizFile+ portal to submit your application online. Create an account if you do not have one.
Fill in the Application Form: Complete the online application form, providing details about the company, directors, shareholders, and business activities.
Upload Required Documents: Upload the necessary documents as part of the application process.
Payment: Pay the registration fee (SGD 300 for a standard registration).
Receive Confirmation: Upon successful registration, you will receive a Certificate of Incorporation via email.
Important Information and Exceptions
Processing Time: The registration process typically takes 1-3 working days if all documents are in order.
Foreigners: Foreigners can register a company in Singapore but must appoint a local resident as a director.
Business Licenses: Depending on the nature of the business, additional licenses or permits may be required (e.g., food and beverage, education).
Tax Registration: After incorporation, the company must register for Goods and Services Tax (GST) if its taxable turnover exceeds SGD 1 million.
Relevant Links
BizFile+ Portal - Official portal for company registration in Singapore.
