In order to enable your Singapore company to operate better, today I will talk to you about the basic requirements that need to be met for Singapore company registration.

Singapore Company Registration Requirements

1. According to the provisions of COMPANY ACT50 of Singapore Company Act, any person of any nationality, as long as he is over 18 years old, can establish a Singapore private limited company.

2. The name of a Singapore company must be in English and end with PTE. LTD., which means "private limited company".

3. The issued capital (issued shares) of a Singapore company must be at least 1 yuan (can be SGD or US dollars), and the paid-up capital must be 1 yuan (that is, the amount of subscribed shares, which can be SGD or US dollars).

4. Provisions on company shareholders and directors:

The Singapore Company Act stipulates that shareholders can be natural persons or corporate legal persons (legal shareholders). Natural person shareholders are not limited to nationality (can serve as directors at the same time). Legal shareholders are not limited to the place of registration (overseas companies or offshore companies are both possible).

There must be at least 1 director of a Singapore company. Foreigners who register a Singapore company must have at least 1 Singapore resident director (commonly known as a "nominal director", which can be provided by a secretarial company).

5. A company legal secretary must be appointed 6 months after the company is established.

6. A Singapore company must have a legal registered address.

7. Business scope of the company: Each company can choose two business items. If the company has multiple businesses to develop, it is recommended to register different types of companies.

Business scope requirements for Singapore companies

Some people want to know more about the business scope requirements of Singapore companies. The following is a specific explanation of the business scope requirements of Singapore companies.

The business scope of a Singapore company is called Principal Activities in Singapore. Singapore generally has no restrictions on the business scope of a company. Applicants can fill it out according to their own needs, and the number of words generally does not exceed 28.

However, unlike the domestic registered companies that need to fill in the business scope themselves, the business scope of Singapore companies has unified regulations. When choosing the business scope, business owners only need to refer to the Singapore Standard Industrial Classification (SSIC) published by the Singapore Department of Statistics (DOS) and select two items that are suitable for their business content.

Generally, the company's business scope is determined in three simple steps:

1. Determine the company's business keywords; (such as shipping, electronic components, etc.).

2. Search for keywords in the Singapore Standard Industrial Classification Catalog;

3. According to the search results, select the industry code that matches your business scope.

Zhuoxin Enterprise provides agency services such as Singapore company registration, bank account opening, annual tax filing, trademark registration, tax planning, ODI overseas investment filing, etc. If you have any agency needs in this regard, please feel free to consult our online customer service!