The proposed name of the company must be approved prior to incorporation. Approval can be obtained by filing the application with the Accounting and Corporate Regulatory Authority (ACRA).
All Singapore incorporated companies must have a registered address. The registered address must be a local Singapore address accessible to the public during normal office hours and cannot be a P.O. Box.
A director is the person responsible for managing the affairs of the company. Each company must have a minimum of one resident director (a resident is defined as a Singapore Citizen, a Singaporean Permanent Resident, or a person who has been issued an Entrepass or Employment Pass). There is no limit on the number of additional local or foreign directors a Singapore Company can appoint. Directors must be at least 18 years of age and must not be bankrupt or convicted of any malpractice in the past. There is no requirement for the directors to be shareholders of the company.
Every company must appoint a qualified company secretary within 6 months of its incorporation. In the case of a sole director or shareholder, the same person cannot act as the company secretary. The company secretary must be a natural person who is ordinarily resident in Singapore.
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Singapore private limited company can have a minimum of 1 and maximum of 50 shareholders. A director and shareholder can be the same or a different person. The shareholder can be a person or another legal entity such as another company or trust. 100% local or foreign shareholding is allowed. New shares can be issued or existing shares can be transferred to another person any time after the Singapore company has gone through the incorporation process.
The minimum paid-up capital for registration of a Singapore company is S$1. Paid-up capital (also known as share capital) may be increased any time after incorporation.
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