Here are the steps to incorporating a Singapore Company. It will take approximately 1 to 2 days to incorporate a Singapore Company. If you are a Singaporean or Singapore Permanent Resident who is living in Singapore and will be the sole director and shareholder of the proposed Singapore Company, the timeframe to incorporate can be significantly faster.
Step 1: Download and complete the Company Registration Documents (Approximately 1 to 2 hours)
The Company Registration Documents can be found at this link: singaporesecretaryservices.com/company-registration-documents/
Important things to note:
- The paid-up capital has to be placed in the company’s bank account when it is open. For example, if the paid-up capital is placed as SGD$10,000, the shareholders are required to place $10,000 into the company’s bank account when it is opened. These monies can be used for the day to day running of the company.
- Every Singapore company requires a local resident director. That person can be a Singaporean, a Singapore Permanent Resident or a foreigner with a valid work pass. If you do not have a local resident director, you can use our nominee director services.
Step 2: Email the completed documents to [email protected]. (Approximately 1 day)
It will take approximately 1 day for us to process the documents. If there are incomplete or missing documents, the processing time may take longer. Once our company has completed our due diligence on the applicants, we will generate an invoice and send it to the client.
Step 3: Make a payment on the invoice. (Approximately 1 to 2 hours)
For incorporation of companies, we will require that payment be made via bank transfer from the applicant’s personal bank account. The bank account must bear the name of either the applicant, the directors or the shareholder of the proposed company.
Step 4: Once payment is made we will incorporate the company immediately. (Approximately 2 to 3 hours)
You will receive a business profile with your Company’s Unique Entity Number (UEN). A UEN may also be referred to as the Company’s Registration Number. You will also receive the Company’s Constitution.
Things to note:
- The almost instant incorporation is for Exempt Private Companies Limited by Shares and Private Companies Limited by Shares. These are the usual company structures that are incorporated. If you are incorporating a Public Company Limited by Guarantee (a non-profit organisation), the process will take anywhere from 2 weeks to 2 months as the case may be referred to the authorities.
Step 5: Open a company bank account. (The whole process may take 1 to 2 weeks)
The whole process will include making an appointment with the banker, meeting the banker to complete the bank account opening documents and
You will need these to open a bank account. Most banks will require a director and another director or a secretary to open a bank account.
Things to note:
- Most banks have a minimum average daily balance. If you are looking for a bank account with no minimum balance, you may consider opening a corporate account with Maybank.
- Our company has no affiliation with any banks and do not receive any referral fees from any banks. If you need contacts for corporate bankers, you may request these contacts from us. These corporate bankers can travel to meet you at your convenience. Our company will facilitate and support our clients in the opening of the bank account.
- Once the bank account is open, the paid-up capital has to be placed in the company bank account. This money can only be used for the day to day running of the company. Once the paid-up capital has been paid, you will need to submit the proof to our company and we will issue the share certificate to the shareholders.
Thus opening a Singapore Company is a very simple and swift process. We are an ACRA Registered Filing Agent and have extensive experience in assisting clients to incorporate various types of companies. If you are unsure of the incorporation process and would like to know how to structure your company, feel free to call or WhatsApp +6582222886, email [email protected] or just drop us a message on our live chat.
The editorial team at Singapore Secretary Services
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