Is Permanent Resident Mandatory for Registering a Company in Singapore?

Singapore Company Incorporation Service

Foreign companies can easily be registered as private limited liability companies because they are considered a separate legal entity in Singapore. Shareholders shall not be held liable for any debts beyond share capital, which is contributed already. There are little limitations and significant tax efficiencies for a well-structured private limited company when it comes to doing business in Singapore.

Minimum Requirements for Company Registration in Singapore

• Resident Director — 1
• Shareholder (corporate entity or person) — 1
• Company secretary — 1
• A physical office address registered in Singapore
• Paid-up share capital of S$1 or more

How Much Time Does It need to Register?

The Singapore Registrar of Companies has made a proven effort to start the process of company formation services in Singapore over the past decade. Hence, the procedure of company registration is entirely digitized, and it takes two days for the procedure to complete (if complete documents are received).

Requirements for Registering a Company in Singapore

• Shareholders — A company should have at least 1 to 50 shareholders, who can be foreign nationals or locals. Shareholders can be corporate entities or individuals.
• Share Capital — To establish a company, the minimum paid-up capital is S$1. A company can raise its share capital any time with additional capital.
• Directors — Singapore permanent resident or foreign resident can be the director of the company. It is mandatory to have a permanent resident director for company registration in Singapore. A Singapore resident can be a Singapore permanent resident, Singapore citizen, or Employment Pass holder.
• Company Secretary — A company needs to hire an experienced and qualified company secretary in 6 months of the company’s incorporation. A secretary needs to be a resident of Singapore and an individual.
• Name of the company — A Company name should be approved before proceeding with the company’s registration.
• Registered address — Each company should have a registered address where the company handles and manages all statutory documents. It shouldn’t be PO Box.

Company Incorporation Services Singapore 

If you are not a permanent resident in Singapore and interested in company incorporation services Singapore, note these points –

• A corporate entity or non-resident individual cannot self-register a company, according to Singaporean law. You should contact a professional firm for company registration in Singapore.
• It would help if you had Entrepreneur Pass or Employment Pass to operate a company by moving to Singapore. It would help if you served as resident director of the company.
• If you are running a company away from Singapore, there is no need to have a working visa. But it would help if you had a local director to meet the minimum requirement.
• You can handle the entire work permit and company incorporation requirements without visiting Singapore unless you want to open an account at a bank based in Singapore.