Business Consulting SG

Foreigners can easily register a company in Singapore and hold 100% of the shares without any hassle. Anyone over 18 years old can start a business here, provided they have no criminal convictions or bankruptcy issues.

Besides Singaporeans, Permanent Residents (PR), and holders of Employment Pass, EntrePass, and Dependent Pass can also register and own a company. Note that your physical presence in Singapore is required during the company setup process.

You must need to Appoint a Local or Resident Director.

Local residents can serve as the resident director when registering their company through the BizFile+ portal. Shareholders must pass a resolution to appoint this director, who must be over 18 and legally competent. Individuals with undischarged bankruptcy cannot hold this position.

For foreigners, the process is slightly different:

1. Appoint a Local Director: Foreigners must appoint a local director to meet Singapore’s regulations.
2. Engage a Registered Filing Agent: Foreigners cannot self-register their company and must work with a registered filing agent.

Options for Appointing a Local Director:

• Option 1: Hire a Singaporean, Permanent Resident, or EntrePass holder as the local director.
• Option 2: Appoint a nominee director for your company.
• Option 3: Apply for and obtain an EntrePass to establish your company.

Additional Notes: Ensure a contract is signed with the appointed local director to limit their involvement in day-to-day operations. They will not have authority over the company’s bank accounts, leaving you with complete control.

Yes, as an EP holder, you can register a company in Singapore just like anyone else. However, if you also wish to serve as the company’s local director, it’s important to gather additional information. Understanding these details can help you avoid potential issues and streamline the process of starting your business.

Yes, foreigners can easily register a company in Singapore and own 100% of the shares, giving them full ownership. Both foreigners and locals over 18 can establish a company here.

Legally, companies in Singapore are considered separate entities with rights similar to individuals. This means that foreign companies can also own 100% of a new company’s equity or shareholding.

Foreigners can set up a company in Singapore without relocating. They simply need to appoint a local director for the registration process. Afterward, they can manage their company from abroad.

However, if a foreigner wishes to be the local (resident) director and work in Singapore, they will need to relocate and obtain the appropriate work pass or visa. Without this, they cannot legally work in Singapore.

Yes, appointing a corporate secretary is a requirement for your Singapore company, and this must be done within 6 months of incorporation.

For a public company, the corporate secretary must be certified by a recognized institute. For a private limited company, ensure that the secretary is experienced and knowledgeable about the Companies Act and has a solid track record in the role.

The Accounting and Corporate Regulatory Authority (ACRA) views the corporate secretary as an essential company officer. They manage communications with authorities and external parties, allowing your company’s management to focus on running the business effectively.

With an experienced filing agent like BCSG, incorporating a company in Singapore can typically be completed in 1-3 days.

However, if the application is referred to the relevant Ministry, the process might extend up to 2 months.

Foreigners cannot directly act as the local director of their Singapore company unless they hold a work pass, such as the Entrepreneur Pass. This pass allows you to relocate and work in Singapore, and you can apply for it through the Ministry of Manpower.

Without a work pass, foreigners must appoint a nominee director who is a resident of Singapore to fulfill this role. It is necessary to have at least one local director to complete the incorporation process.

*It’s important to note that being a shareholder and acting as a local director are distinct roles. While Employment Pass holders, Dependents Pass holders, and other pass holders can own and set up a company, they must still appoint a nominee director if they wish to proceed with registration. They cannot serve as the resident director or hold any employee position within the company.

As a shareholder, you own your company, and you may choose to work as its local director, earning a salary in that role. It’s important to understand that being an owner and serving as a local director are separate responsibilities.

You can appoint a friend or family member over 18 years old as the local director. This individual will handle various tasks, including:

• Meeting statutory requirements
• Organizing the Annual General Meeting
• Filing annual returns with the authorities
• Securing a local registered address
• Maintaining statutory registers (e.g., members, directors, auditors)
• Passing resolutions for bank account openings
• Appointing company officers (directors, auditors, and company secretary)
• Ensuring corporate governance
• Meeting corporate social responsibility and ethical standards
• Engaging with the community

Both local and foreign entrepreneurs must be over 18 years old to register a company. Additionally, the requirements include:

• A minimum initial paid-up capital of S$1
• At least one shareholder (up to 50 allowed)
• At least one local (residential) director
• At least one qualified company secretary
• A registered local address for the company

Ensure that you appoint a company secretary within six months of incorporation, as this is a fundamental requirement.

As a shareholder, you own your company and have the option to work as its local director, for which you can receive a salary. It’s important to differentiate between ownership and the role of the local director.

If you decide to appoint a friend or family member (over 18 years old) as the local director, they will need to fulfill various responsibilities, including:

• Meeting statutory requirements
• Organizing the Annual General Meeting
• Filing annual returns with authorities
• Securing a local registered address
• Maintaining statutory registers (e.g., members, directors, auditors)
• Passing resolutions for bank account openings
• Appointing company officers (directors, auditors, company secretary)
• Ensuring corporate governance
• Meeting corporate social responsibility and ethical standards
• Engaging with the community

Appointing someone you trust, such as a friend or family member, can be effective if done thoughtfully. If you need to step away from company matters, you might consider consulting a lawyer to grant them limited power of attorney, allowing them to handle additional duties. Of course, you should trust them to act in the best interest of the company.