If you wish to start a business, Singapore is one of the best places for you. Before you start your business, you can allow Margin Wheeler Pte Ltd to help you with the incorporation process. In Singapore, foreign and local investors who wish to conduct business in this nation are expected to register in business entities, including an offshore company, non-profit entity, partnership, sole proprietorship, limited partnerships, and private limited company. At Margin Wheeler Pte Ltd, we are dedicated to assisting our customers in establishing or expanding their businesses. In particular, we will assist you to be negative through the value Singapore company formation.
Company formation procedure
Your company name should be approved by the Accounting & Corporate Regulatory Authority (ACRA). Your company name can be approved within a short if it meets the following requirements:
It should be unique
Be free from an obscene or vulgar word
Should not violate any copyright or trademark issue
No reserved by another company
After your name is approved, it will be reserved for 60 days. However, if you fail to incorporate the company within that period, you will be granted an extension of 60 days by applying ACRA.
Preparation of documents
The following are the documents needed for company formation in Singapore
Foreign investors are supposed to submit their passport copies.
Address details and identity proof of the company directors
Address details and identity proof of the shareholders
Registered company address
Description of the company, including its constitution and major business activities.
After submitting all the required documents, the official company registration can be done within one day.
Private limited companies are supposed to have between 1 to 50 shareholders who can be local or foreign residents. You also need to appoint your company secretary within six after the incorporation. The shareholder must be a person living in Singapore and cannot be a director or a sole shareholder of the company. Other additional requirements include a paid-up capital of at least S$1 and a local Singapore address.
Documents issued by ACRA after registration
Company business profile in pdf format
Certificate of incorporation
Supporting documents for company formation
- Corporate shareholders
Registration certificate issued by ACRA
A document detailing the beneficiaries of the company
Company details containing the main business activities, particulars of directors and shareholders, invested capital, address, registration number, and company name.
Resident identity card for Singaporean residents
Post-Singapore company formation requirements
After your company has been registered and the value Singapore company formation is completed, you can immediately start engaging in business. However, your need to fulfill the following post-registration requirements:
Registration for Good and Services Tax.
Applying for the appropriate visa, including an employment pass or any other required by the Singapore Companies Act.
Applying for business permits and licenses if your business needs one.
Opening a corporate bank account
Ensuring continuing compliances by convening annual general meetings, adhering to accounting requirements, announcing your financial year, corporate tax filing, and yearly return filing.
Grants for newly formed companies in Singapore
If your company is incorporated in Singapore, you can take advantage of the government grants to grow and promote your business. One of the schemes that you can use includes Innovation and Capability Voucher (ICV). Under the ICV scheme, companies are allowed to apply for vouchers valued at $5,000 to redeem technical and hardware solutions and professional consultancy services. The eligibility conditions for the ICV include a physically present and registered company in Singapore with a group annual sales turnover of less than S$100 million and at least 30 percent local shareholding.
At Margin Wheeler Pte Ltd, we provide prospective companies with several services regarding registration and incorporation, compliance after registration, and other advisory services. Most importantly, we offer lucrative packages at affordable and competitive costs, which can free you from unnecessary hassles and assist you in saving a considerable amount of time.