Incorporate a Singapore Private Limited Company
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Incorporate a Singapore Private Limited Company Services By Rikvin Rikvin is a leading company incorporation specialist and corporate solutions provider in Singapore. The firm is an expert in incorporating a Singapore private limited company. “A Private Limited Company is a type of private company limited by shares and registered with Accounting & Corporate Regulatory Authority (ACRA) under the Singapore Companies Act. A Singapore Private Limited Company has a separate legal entity from its shareholders, and therefore they are not liable for the debts and losses of the company,” Rikvin said. Rikvin outlined and discussed the following considerations for Singapore company registration: Pre-Incorporation Guide:
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Company Name: The company name must be approved by ACRA before the Singapore Company can be incorporated. Shareholders: A minimum of at least one corporate or individual shareholding is required. A director and shareholder can be the same or different person. 100% local or foreign shareholding is allowed. Resident Directors: Singapore Private Limited Company must have at least one director who must be an "ordinarily" resident in Singapore, which means a Singapore citizen, a Singapore permanent resident or a person who holds an Employment Pass/Entrepass or a Dependants' Pass with a residential address in Singapore. Company Secretary: The company secretary must be a natural person who is an "ordinarily" resident in Singapore. Share Capital/Paid-up Capital: The minimum paid-up capital for registration of a Singapore company is S$1 or its equivalent in any currencies. The minimum issued capital is one share of par value. Registered Address: Every company registered in Singapore is required to have a registered office address. Memorandum and Articles of Association: Memorandum and Articles of Association must be lodged with ACRA.
Post-Incorporation Guide:
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Licenses and Permits: Some business activities in Singapore are subject to regulation by government authorities. Even if your business firm has been registered you cannot begin operation unless you have the necessary approval or license from the relevant government authorities. Registered Office Hours: You must have a registered office address and the office must be open to public for minimum of three hours per day during normal business hours on weekdays. Registration Number: Business registration number issued by ACRA must be on all letterheads, invoices, billings or other documents used for official business communications. Custom Registration: If your business activities involve import, export and transhipment in and out of Singapore, you will need to register your company with the Singapore Customs and obtain a CR Number or commonly known as Custom Registration. Singapore Goods and Services Tax Registration: Goods and Services Tax (GST) is a tax on the supply of goods and services in Singapore and on the import of goods into Singapore. Goods exported from Singapore and international services provided from Singapore are exempt from GST. The current rate is 7%. Registration of Singapore Central Provident (CPF): The Central Provident Fund or CPF is a compulsory pension fund scheme in which the employer and employee contribute a percentage of the monthly salary to the fund.
About the Publisher: Rikvin is a Singapore-based consultancy that offers business solutions for both local and foreign professionals, investors and entrepreneurs. Rikvin’s areas of expertise include assistance to incorporate a Singapore company, offshore company setup, Singapore work visa, and other related corporate services. Rikvin also provides immigration services for foreign professionals wishing to relocate to Singapore. Rikvin PTE LTD 20 Cecil Street, #14-01, Equity Plaza, Singapore 049705 Main Lines: (65) 6438 8887 Fax (65) 6438 2436 http://www.rikvin.com
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Company Name: The company name must be approved by ACRA before the Singapore Company can be incorporated. Shareholders: A minimum of at least one corporate or individual shareholding is required. A director and shareholder can be the same or different person. 100% local or foreign shareholding is allowed. Resident Directors: Singapore Private Limited Company must have at least one director who must be an "ordinarily" resident in Singapore, which means a Singapore citizen, a Singapore permanent resident or a person who holds an Employment Pass/Entrepass or a Dependants' Pass with a residential address in Singapore. Company Secretary: The company secretary must be a natural person who is an "ordinarily" resident in Singapore. Share Capital/Paid-up Capital: The minimum paid-up capital for registration of a Singapore company is S$1 or its equivalent in any currencies. The minimum issued capital is one share of par value. Registered Address: Every company registered in Singapore is required to have a registered office address. Memorandum and Articles of Association: Memorandum and Articles of Association must be lodged with ACRA.
Post-Incorporation Guide:
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Licenses and Permits: Some business activities in Singapore are subject to regulation by government authorities. Even if your business firm has been registered you cannot begin operation unless you have the necessary approval or license from the relevant government authorities. Registered Office Hours: You must have a registered office address and the office must be open to public for minimum of three hours per day during normal business hours on weekdays. Registration Number: Business registration number issued by ACRA must be on all letterheads, invoices, billings or other documents used for official business communications. Custom Registration: If your business activities involve import, export and transhipment in and out of Singapore, you will need to register your company with the Singapore Customs and obtain a CR Number or commonly known as Custom Registration. Singapore Goods and Services Tax Registration: Goods and Services Tax (GST) is a tax on the supply of goods and services in Singapore and on the import of goods into Singapore. Goods exported from Singapore and international services provided from Singapore are exempt from GST. The current rate is 7%. Registration of Singapore Central Provident (CPF): The Central Provident Fund or CPF is a compulsory pension fund scheme in which the employer and employee contribute a percentage of the monthly salary to the fund.
About the Publisher: Rikvin is a Singapore-based consultancy that offers business solutions for both local and foreign professionals, investors and entrepreneurs. Rikvin’s areas of expertise include assistance to incorporate a Singapore company, offshore company setup, Singapore work visa, and other related corporate services. Rikvin also provides immigration services for foreign professionals wishing to relocate to Singapore. Rikvin PTE LTD 20 Cecil Street, #14-01, Equity Plaza, Singapore 049705 Main Lines: (65) 6438 8887 Fax (65) 6438 2436 http://www.rikvin.com
