Local - Paciol

1 Company incorporation services in Singapore from Paciol

The company incorporation process in Singapore is well-optimized. Undoubtedly both local and foreign entrepreneurs can incorporate their company and start a business without any hassle, but foreigners cannot open their company unless they appoint a local director or a registered corporate secretary. On the other hand, circumstances for local company incorporation in Singapore are different and straightforward.

Start your business with Paciol’s company incorporation services in Singapore!

Do you know that any individual over 18 can form their own company in Singapore? Therefore, irrespective of whether you are registering a Private Limited Company, Subsidiary company or a Branch office, you can always opt for company incorporation services in Singapore to register your company and maximize your tax benefits.

2 Private Limited Companies

Individuals who prefer private limited company register believe in tax-efficient and dynamic structures suitable for business growth. If you want to register your company as a private limited company, it must follow the below-mentioned criteria:

It can have about 1-50 shareholders.

At least one director of the company should be a Singapore citizen. Permanent resident or Entrepass holder.

The company should have perpetual existence, and it must have a separate legal identity from company shareholders.

The company would be responsible for its losses or debts.

As a tax resident, any local private limited company can get all tax benefits and incentives offered by the authorities.

3 Subsidiary Company

Foreign entities set up subsidiaries companies to expand their business to Singapore. Subsidiary companies get tax benefits, rebates and exemptions provided by the authorities. Also, subsidiary companies have a separate identity from the parent company, and they are liable for all the debts and losses.

4 Branch offices

Some foreign companies also register their branch office in Singapore. Branch offices have no separate identity from foreign parent companies. They are taken to be the extension of the parent companies, and they are liable for their branch’s debts and losses. As branch offices are not considered local Singapore companies, they cannot claim the exemptions, tax benefits and rebates offered by the authorities.

Pre-incorporation requirements

Company Name

Decide your company name before they incorporate it. ACRA must approve your company’s name. The name needs to be unique and non-identical to the pre-existing companies. Follow all the appropriate trademark protocols and ensure the absence of obscene or identical characters in your name. To be safe, decide at least three choices. Once you register your company name, it will be reserved for you for 120 days from the approval date.

Company structure

When you submit your company name application, specify the chosen company structure. Typically, there are seven different types of companies incorporated in Singapore. Work with a corporate secretary or proficient corporate consultants to evaluate each option. Finalize the company type that is based on your business needs. Although Private Limited Company structures are most preferred in Singapore, you can choose a business structure depending on your business objectives and type.

Company Constitution

Company incorporation is a complex process involving submitting legal documents stating all the rules and regulations essential for company governance- this is the company constitution. It includes the company’s name and registered address, business activities and mode of operation, the total amount of shared capital, number of issued shares, rights and liabilities of the company directors, and more.

Business Activity Classification

Are you familiar with the fact that every business in Singapore must define its business activity while incorporating its business? Select the SSIC or Singapore Standard Industrial Classification for accurately describing your business activities.

Registered office address

As per the Companies Act of Singapore, your company must be in Singapore, and it must not be a P.O box address. Government bodies need to send tentative notices and official documents to the registered address. So, the company doesn’t need to keep all the essential registers at this address. A residential address also finds its use in specific scenarios of enterprises for legal purposes.

Paid-up or share capital

When registering their company, a business owner needs a minimum of $1 capital or any equivalent currency with a shared or paid-up capital. This amount can increase after incorporation, but you need to register with this minimum share capital.

Members of the company

For company incorporation, the director must be at least 18 years old and above, and they must be a Singapore citizen, permanent resident or a foreigner who has an employment pass. The company also needs a minimum of 1 shareholder and company secretaries to handle the administrative operations efficiently.

Why Paciol?

We help companies with everything pre- to post-incorporation. As a responsible corporate partner, our sole aim is to aid businesses to be compliant with the Accounting and Corporate Regulatory authoritieswhile handling their business activities and finances seamlessly. We have years of experience in the industry, and our services are transparent at best. With us, do your registration from anywhere, store all your critical documents in the cloud and streamline and simplify your incorporation process. Our experts handle the piles of paperwork and do not burden you with any hidden fees. Hire us and make your local company incorporation process as easy as anything.
We can get quick approval of ACRA for your company and prepare all the necessary documents to register your company without any intricate hiccups in the incorporation process.
Are you still searching for the best new company incorporation Singapore services? Contact our company secretaries now and incorporate your company. Whether you want a business licence for your business in Singapore, you are searching for a residential address, or you want nominee director service to adhere to the compliance requirements, our incorporation packages can save your day!

FAQs

How you help me with my incorporation and strike off process simultaneously?
Yes, we can. Contact us for further information.

How long does it take to incorporate a company in Singapore?
Depending on your company type and documents, the duration usually varies for company incorporation. However, we can make the incorporation process faster and seamless.

When can I contact your firm?
You can get in touch with us anytime you want. Our prompt customer support executives are there around the clock to answer queries. Or you can drop an email or schedule a consultation and we will get back to you within 2hours!