Starting a PTE LTD

Posts: 6 Reputation: 1 Join date: 2009-08-13

For all of you interested in starting a Pte Ltd compnay in Singapore, here is a quick overview.

Minimum Statutory Requirements
A local registered address(commercial or residential but no PO Box); at least 1 local resident director (a Singapore Citizen, a Singapore PR, or a foreigner holding an Employment Pass, Entrepreneur Pass or Dependent Pass); a local resident and qualified company secretary (must be a natural person); a minimum of 1 and maximum of 50 shareholders (natural persons or corporates); and a minimum paid up capital of SGD 1.00.

Incorporation procedure
Company registration in Singapore is fully-computerized and can be completed within 1 day via electronic means. There are only two major steps involved in company formation - name approval (by filing an online application with ACRA) and filing incorporation documents with Companies Registrar (ACRA).

Generally the name approval/rejection notification comes through in less than an hour. Filing incorporation documents and obtaining approval from the Registrar of Companies can be completed in a few hours (assuming incorporation documents are in order).

Documents and Information Required
Company Name
Brief Description of Business Activities
Shareholders Particulars
Directors Particulars
Registered Address
Company Secretary Particulars
Memorandum and Articles of Association (MAA). Singapore Company Registrar provides a standard MAA document that is suitable for most instances.

The Company Registrar will send an official email notification (which is treated as the official incorporation certificate) confirming the incorporation of the company.

You can proceed to obtain the Company Particulars Extract from ACRA, open a corporate bank account, obtain business licenses (if required) and register for GST.

For more info, look up Singapore Company Registration Guide

Although you can opt for self-incorporation it is always advisable to hire a firm who will take care of all the formalities for a nominal fee. You can contact the firm that runs the website http://www.guidemesingapore.com/ They are known to provide credible services at very affordable costs.