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Foreign Individuals Singapore Company Formation
Foreign Individuals Singapore Company Formation
One of the preferred company incorporation in Singapore is a private limited company. A private limited company is a business entity registered under the Singapore Companies Act, Chapter 50 where the number of shareholders is limited to 50. A Company has its own legal identity, separate from its shareholders (who own the company) and its directors (who manage the company).
Foreigners can freely incorporate a Singapore private limited company. Singapore allows 100% foreign shareholding.
To set up a company, you need to have a minimum of one shareholder, one director and one company secretary. A shareholder may be a corporation or an individual. Any person above the age of 18 years may be appointed as a director.
At least one director and the company secretary must be a resident of Singapore. Companies without a Singapore-resident director can appoint a nominee director. The shareholder can also act as director. If the Company has only a shareholder cum director, he cannot act as the company secretary. There is also a minimum initial paid-up share capital of $1. A company must have a registered address in Singapore.
Any Singapore-resident citizen, Singapore Permanent Resident or Singapore Employment Pass/ EntrePass / Dependant Pass holder can be a nominee director. A nominee director will not have any role in the company except to satisfy the statutory requirements of a local resident director for your company.
Tags: Singapore Company Formation, Singapore Company Registration, Singapore Company Incorporation, Singapore Company Setup
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