Incorporating a company in Singapore

Incorporating a company in Singapore

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Setting up a company in Singapore

Different types of businesses necessitate different company setups. Before starting a business or incorporating a company in Singapore, you will need to select the  type of company that will work most efficiently for your business.

Private Company limited by shares

(i) Private Company

A private company has a maximum number of shareholders limited to 50.

(ii) Exempt Private Company

An Exempt Private Company (EPC) is a private company which has at most 20 shareholders and none of the shareholders is a corporation. It can also be a company the Minister has gazetted as an EPC (see section 4(1) of the Companies Act).

Public Company

(i) Public Company limited by shares

A public company limited by shares can have more than 50 shareholders. The company may raise capital by offering shares and debentures to the public. A public company must register a prospectus with the Monetary Authority of Singapore before making any public offer of shares and debentures.

(ii) Public Company limited by guarantee

A public company limited by guarantee is one which carries out non-profit making activities that have some basis of national or public interest, such as for promoting art, or charity etc. The Minister may approve the registration of the company without the addition of the word “Limited” or “Berhad” to its name.

Requirements

A foreigner, who wants to set up his own company in Singapore, is required to appoint a locally resident director. The foreigner can continue to reside outside Singapore. 

Foreigners who wish to incorporate a company and be present in Singapore to manage its operations are strongly advised to seek approval from the Ministry of Manpower (MOM) before registration.

The foreigner must engage the services of a registered filing agent (e.g. law firm, accounting firm or corporate secretarial firm) to submit the online application on his behalf.

Any person above the age of 18 years old can be a director of a company.



 


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