Learn about the Singapore company incorporation process in this infographic, including the requirements as well as all of the necessary documentation and information to prepare prior to registration.
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What should I prepare before starting the incorporation process?
Before beginning the incorporation process, ensure that you have met all of the requirements and that you have all of the necessary documentation and information.
Here’s a brief overview of what you’d need to do:
- Secure your preferred company name
- Decide on the company’s principal activities
- Prepare the minimum paid-up capital of SGD 1
- Have at least 1 shareholder (either an individual or corporate entity)
- Have at least 1 resident director
If you do not have a resident director, you may also engage Rikvin’s Nominee Director services.
- Have a Singapore Registered Office Address
When do I need to obtain approval from a governing body?
If you plan to incorporate a business in an industry that is regulated by governing bodies because of the nature of the services you provide, you may need to get approval or a referral from a governing body first. The infographic below contains a comprehensive list of scenarios in which you would need to obtain approval from government bodies.
When should I get a business license?
Certain types of business activities may necessitate the procurement of a business license. The infographic below contains a comprehensive list of examples of such business activities that would require a business license.
Who would require an Employment Pass (EP)?
An Employment Pass is required for foreigners who want to relocate to Singapore to run their businesses. Similarly, foreign corporations wishing to relocate their employees must apply for an Employment Pass.
The eligibility criteria for an Employment Pass (EP) depends on the following:
- Relevant Skills
- Educational Qualifications
- Professional Background
What else do I need to do after I incorporate?
Some post-incorporation steps you would also need to take would be:
- Opening of a Singapore corporate bank account
- Determining the company’s financial year end (FYE)
- Appointment of auditors
- Appointment of company secretary
- Holding of Annual General Meeting
- Filing of Annual Returns
- Goods and Services Tax (GST) registration
- Central Provident Fund (CPF) registration or SDF registration
The timeline for each of these post-incorporation steps differ greatly, for more information you can refer to Rikvin’s Comprehensive Guide on Company Incorporation Process in Singapore.
Alternatively, you can engage Rikvin to help you incorporate your company and take care of all of the steps outlined in this article and infographic.
Sign up with our Singapore Company Incorporation Services
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Eric comes from banking background. He provides consultancy to local and foreign entities on the ideal market-entry strategies for setting up or expanding operations in Southeast Asia.
Eric also provides advisory to fund managers and family offices on structuring as well as applicable tax incentives. He has also set up many VCC structures for licensed fund managers.