Starting a business in Singapore is exciting, but it involves several administrative steps, including the preparation and submission of various documents. Whether you’re a local entrepreneur or a foreign investor, understanding the required documents is crucial for a smooth company registration process. In this article, we’ll guide you through the essential documents needed to establish your business presence in Singapore.
While not a legal requirement, having a well-thought-out business plan is essential for your company’s success. It outlines your business goals, strategies, and financial projections. A solid business plan can also be beneficial when seeking financing or partnerships.
Before officially registering your business, you’ll need to reserve a unique company name with the Accounting and Corporate Regulatory Authority (ACRA). This name reservation is typically valid for 120 days. Ensure that your chosen name adheres to ACRA’s guidelines and is available for use.
For private limited companies, a company constitution (formerly known as the Memorandum and Articles of Association) is required. It outlines the company’s internal rules, such as the rights and responsibilities of shareholders and directors. You can adopt a standard constitution provided by ACRA or draft a customised one.
Every Singapore company must have a registered office address within the country. This address will be used for official correspondence and legal notifications. A residential address is not acceptable unless it’s approved by the Urban Redevelopment Authority (URA).
You’ll need to provide personal particulars of the company’s directors and shareholders, including their names, addresses, passport details (for foreigners), and the number of shares they hold. At least one director must be a resident in Singapore.
Appoint a qualified company secretary within six months of your company’s incorporation. The secretary is responsible for ensuring regulatory compliance and maintaining corporate records.
Declare the initial paid-up share capital of your company. While the minimum requirement for paid-up capital in Singapore is S$1, it’s essential to determine the appropriate amount based on your business needs. Note: Companies with paid-up share capital of $500,000 and above will automatically become members of the Singapore Business Federation (SBF). Find out more about SBF membership.
Directors must provide their written consent to act as directors of the company and confirm that they are not disqualified under the Companies Act.
Similarly, your appointed company secretary must provide written consent to act in that capacity.
Certain companies, such as those with corporate shareholders or specific industries, may need to appoint auditors. You must obtain auditors’ consent to act as auditors and a certificate of compliance with the Accountants Act.
If you’re a foreign entrepreneur looking to set up a business in Singapore, you’ll need to submit additional documents, including your passport, proof of overseas residential address, and other relevant identification documents. You may also need to provide additional documents if you plan to relocate to Singapore.
Foreign entrepreneurs who intend to relocate to Singapore to manage their businesses must obtain an appropriate work pass, such as an Employment Pass (EP) or EntrePass. The EP application includes additional documents like educational certificates and a copy of the in-principle approval letter.
Navigating the process of setting up a business in Singapore involves meticulous documentation. Properly preparing and submitting the required documents ensures compliance with regulatory authorities and a smooth incorporation process. While this article provides a general overview of essential documents, it’s advisable to seek legal or professional guidance to address specific requirements and compliance obligations. With the right documents in hand, you’ll be well on your way to launching your business in the vibrant Singapore market.
Let the pro team at Counto help set up your business in Singapore quickly. Speak to us directly on our chatbot, email us at [email protected], or contact us using this form.
Here are some articles you might find helpful:
Whatsapp 
Call