Singapore Company Formation Checklist

Once you have decided to incorporate a Singapore company, the following details checklist will help you understand the key requirements and the overall incorporation process.

Proposed Company Name Approval	The proposed name of your Singapore Company must be approved by the ACRA prior to incorporation.
Directors	Minimum of one local resident director * There are no limits on adding additional local or foreign directors. Directors must be above 18 years of age. If you are unable to satisfy the local director requirement, Rikvin offer nominee director service. Can be a Singapore citizen, Singapore permanent resident or Singapore employment pass work pass, dependant pass holder Note:* A nominee director is not required to be given or hold any shares. He is just appointed to satisfy the Singapore Companies Act requirements.
Shareholders	A minimum of one shareholder and a maximum of 50 shareholders. A director and shareholder can be the same or different person. A shareholder can be an individual or corporate body. 100% foreign shareholding is allowed
Company Secretary	Company secretary must be a natural person residing in Singapore and not a corporate body. A sole director/shareholder cannot act as the company secretary. Rikvin can act as the company secretary for all Singapore companies.
Paid-up Capital	Minimum paid-up capital of $1 is required. No authorized capital required and can be in any currency, tangible or intangible asset.
Registered Address	The company must have a local registered address. P.O Box address is not allowed. Rikvin can provide a prestigious registered address service for Singapore companies including virtual office services and hot desk.
Appointment of Registration Agent	Singapore law does not allow foreigners to self-register a company in Singapore. Rikvin offers professional Company registration service
Documents Required for Incorporation	Passport copies of proposed shareholders and directors with Residential address proof. Details of the parent company if the shareholder is a corporate entity
Corporate Bank Account Opening	We will assist you with opening corporate bank account opening for your Singapore Company.
Registration for General Sales tax (GST)	Your Singapore Company may need to register for Goods and Services Tax in Singapore if your turnover is expected to be above SGD1 million per year for local supplies only. We can assist you with GST registration and on-going GST compliance, if required.
Obtain Business Licenses or Permits	Based on the type of business you plan to start up, you may or may not need a business license or permit to operate. If you need to apply for a business license, we can advise and assist you with the application filing process. The fees will depend on the specific type of license that you require as the complexities involved vary from license to license.
On-going and Annual Compliance Requirements	After the company has been incorporated, we can assist your company with on-going and annual compliance and filing requirements including accounting and corporate tax fling matters.
Options of Singapore company incorporation with relocation and no relocation to Singapore	No Relocation. You are free to register a Singapore Company and operate your Singapore Company from overseas. With Relocation If you plan to relocate to Singapore to operate your company, you must obtain a work Pass. You have an option of either an Employment Pass or Entrepreneur Pass.

The step by step timeline for Singapore Company formation is as follows:

	Procedure	Responsibility	Average Timeline
1	Complete our full detail online form to expedite the company formation process	Client	10 minutes
2	Send us passport copies (or IC for Singaporeans) of proposed directors and shareholders for Singapore company & make payment for the services	Client	Depends on you
Upon completion of the above, we will
1	Reserve company name	Rikvin	10 minutes
2	Prepare necessary incorporation documents	Rikvin	30 minutes
3	Sign and return incorporation documents	Client	Depends on you
Upon completion of the above, we will
1	Incorporate the company with Accounting & Corporate Regulatory Authority of Singapore	Rikvin	20 minutes
2	Prepare company documents for bank account opening and handover to the client	Rikvin	15 minutes