Singapore Company Incorporation with Nominee Director
Overview
If you are an individual who wishes to start a company in Singapore but does not want to relocate to Singapore to run company operations, you need to:
- appoint a trusted contact or
- take on a resident nominee director service in order to fulfil the Singapore companies’ statutory requirement of a resident director.
Requirements to Register a Singapore Company
- Minimum 1 Shareholder
- 1 Resident Director
- 1 Company Secretary
- Minimum paid-up capital of S$1
- A local registered office address
Notes
To proceed, you will need to do the following:
- Engage Rikvin to assist you in the registration of the company
- Appoint a Singapore resident director or engage our Nominee Director Service.
We can provide you with a Nominee Director on a long-term basis or a temporary one until you find a suitable local director to represent your company. We will transfer the directorship once you have appointed a new local director.
Documents
Required Registration Documents
For Directors/Shareholders:
- Copy of NRIC/FIN/Passport personal page of Directors/Shareholders
- Completed/signed KYC Form
- Bank Reference Letter
- Proof of Address (e.g. bank statement, utility bill not older than 3 months)
For Corporate Shareholders:
- Copy of the Certificate of Incorporation of the holding company
- Copy of business profile “Extract” of the holding company
- Copy of passport personal page of Parent Company’s representative who will be signing the incorporation documents
Process
Step 1 – Submit Your Request and Provide Incorporation Details
Upon receipt of your company details, we will:
- Check your proposed company’s name availability.
- Follow up with you to clarify queries (if any) and advise accordingly.
- Send you an invoice for our services.
Step 2 – Make Payment
We will commence with the preparation of incorporation documents upon receiving the payment for services as reflected in the invoice. We accept payment via cash, cheque, telegraphic transfer and credit card.*
You will then have to sign the incorporation documents either in Singapore before us or before Notary Public if you are overseas.
*(Admin surcharges apply.)
Step 3 – Incorporate Company and Open Bank Account
Upon the signing of the incorporation documents, we will proceed with the registration of your company with Accounting and Corporate Regulatory Authority of Singapore (ACRA).
Once the company has been incorporated, we will help you open a corporate bank account.
Package
Company Registration of Singapore Company
Our service for incorporation of a private limited Singapore Company includes:
- Name check and reservation
- Preparation of memorandum & articles of the company
- Preparation of registration forms
- Professional & Filing Fees
- E-Certificate of incorporation
- Preparation of compliance corporate kit, including share certificates, register and minutes book
- Minutes of first board meeting
- Resolution to open a bank account
Corporate Secretarial
Singapore Companies Act requires all Singapore Companies to appoint a Company Secretary to handle on-going Statutory Compliance Matters.
We will act as your company secretary and this service includes:
- ACRA Compliance Alert & Reminders
- Named Company Secretary registered with ACRA for 12 months
- Maintaining the statutory books, preparation of all relevant minutes for Directors’ and Shareholders’ meetings.
Singapore Nominee Resident Director Service
If you do not have a local Singapore resident director to meet the requirement of the Singapore Companies Act, you can engage our Nominee Director Service. We will provide you the service of a local Nominee Director for your company, provided the followings conditions are met:
- The service is offered for statutory compliance only. The Nominee Director will not be involved in any financial or operational matters or management of the company.
- You must appoint one or more individuals (normally the company shareholders) to be the directors that are responsible for running the company operations.
- You must satisfy our initial and on-going KYC requirements.
- Execute our Nominee Director Indemnity Agreement.
We will also require a refundable security deposit for the provision of the Nominee Director Service. The service can be terminated any time at your convenience. You, however, must appoint a new Singapore resident director to meet the statutory requirement. Security Deposit is in addition to the Service Fees. The security deposit is refundable
Optional
Registered Office Address
The companies Act requires all Singapore incorporated entity to have a Singapore-based registered address.
- All Singapore Companies require a local registered address for official communication.
- Rikvin can provide a prestigious address if you don’t have one.
- If this option is terminated prematurely, any unused amount is refunded on a pro-rated basis.
FAQ – Company Registration Service with Nominee Director in Singapore
- Here are the steps you should follow to register a private limited company in Singapore successfully:
- Complete the Singapore Company Incorporation form
- Review your documents and ensure that you have all the relevant documents
- Reserve the company name and if approved, prepared all the necessary documents
- Sign the incorporation documents
- Incorporate the company with ACRA
- Prepare the company resolution and supporting documents needed for opening the corporate bank account
- You will need to prepare the following documents to ensure that the incorporation of the private limited company in Singapore goes smoothly.
- Company name registered with ACRA
- A brief description of the company’s business activities
- Details of Singapore registered address of the company
- Shareholder, company secretary, and directors particulars
- Foreigners must submit a copy of their passport and proof of overseas residential address
- Memorandum of Association and Articles of Association
- Singapore residents must present a copy of their Singapore ID
- After filing your incorporation request with ACRA, you will get the following documents as proof of incorporation:
1. Certificate of Good Standing
The certificate of good standing is proof that your company has been successfully registered in Singapore, and it is live in the ACRA Corporate Register. The document has an electronic signature of the ACRA’s Assistant Registrar, and it is only available for companies.
The details to look out for in the registrar include the name of the company, the incorporation date, status, and the operations. You will also be issued with other corporate documents such as share certificate for each of the shareholders, the common seal, and the statutory registers.
2. Company Business Profile
The company business profile contains all the information about the company, and you can make an online inquisition for a small fee. It includes the following details:
- Company name and incorporation number
- Previous names of the company, if any
- Registration date
- Core business activities
- Paid-up capital
- Registered address
- Details of the directors, shareholders, and company secretary
The company business profile will come in handy when fulfilling contractual and legal activities. This includes activities such as corporate bank account opening, subscribing to office utilities, signing of the office lease, and more.
- After filing your incorporation request with ACRA, you will get the following documents as proof of incorporation:
The fees payable during incorporation are published on the ACRA website, and they are as follows:- Company name registration fee is SGD 15
- Company registration is set at SGD 300
- Registration date
- Core business activities
- Paid-up capital
- Registered address
- Details of the directors, shareholders, and company secretary
However, you also need to consider the cost of maintaining your company every year in terms of administrative costs. There is also the cost of registering for GST tax, CPF, business permits, among others that are required before starting business operations.
- A private limited company (LLC) is one of the common type of business entity set up in Singapore. The LLC is limited by shares and is considered a separate legal entity from its shareholders. This means that the shareholders are not liable for any of the company’s losses and debts beyond the amount of invested share capital. Every company in Singapore should register with the Accounting & Corporate Regulatory Authority (ACRA) and follow the rules and regulations outlined in the Companies Act.
- To incorporate a private limited company in Singapore, you need to meet the following requirements:
- At least one shareholder (it could be a company or an individual)
- One resident director
- One company secretary
- Initial paid-up capital not less than SGD 1
- A physical office address registered in Singapore
- The company name review takes a few seconds, and you will get three possible outcomes; accepted, rejected, or referred. The name will be accepted if no existing or similar name is found.It is rejected if a similar name is already existing. It is referred to a relevant agency if it is considered to be having references to regulated industries such as school, medical, banking, etc. The name will be forwarded to the appropriate authorities for approval which takes between 7 days to 60 days.
Once the name has been approved, it will be reserved for 60 days. By the end of this period, the company should have started the incorporation process; otherwise, you can apply for an extension of 60 days.
Thousands of companies trust us to get started.
Rikvin’s expertise is unrivaled in Singapore. With 20 years of know-how in company incorporation, statutory compliance, accounting, tax, payroll and immigration services, you can count on us to be your dedicated one-stop business solution.
