Local Company Incorporation
What We Offer
Whether you’re a foreigner or local who wishes to set up a company in Singapore, our friendly team of Singapore company registration specialists are able to advise you.
Why Do You Need A Company Formation Services In Singapore?
It is critical to recognize that a company establishment in Singapore requires registering with ACRA. The process of registering, incorporating, and eventually forming a business that is recognized as a legal identity requires a comprehensive compliance with various statutory requirements, from picking a company name to appointing a director or nominee director.
Company formation services by incorporation specialists are consequently required for speedy business setups in Singapore in order to accelerate your Singapore company incorporation.
Steps To Register A Company in Singapore
Decide on A Suitable Company Name
Registering a company in Singapore begins with choosing a company name. The company's name must first be approved by ACRA before you can file for the incorporation of the company. We are able to assist you in checking if your preferred company name is available.
Choose The Right Company Structure
The type of business structure you choose depends on your business needs. You should consider the following factors to determine the best structure for you: How much capital are you prepared to invest? How many owners will there be in the business? What liabilities and responsibilities are you prepared to assume? What risks are you prepared to take? What are the advantages and disadvantages of the different business entities? Is the business entity easy to close?
Meet the Requirements
Once you have selected your company name and structure, the next step is to prepare the requirements needed to complete the company incorporation process. These include:
(1) a minimum of 1 shareholder, (2) a minimum of 1 director who resides in Singapore, (3) a minimum capital of at least S$1, (4) a company secretary, (5) a registered business address.
By engaging our service, our team will help you prepare and submit all the necessary documents. We will make the registration process more efficient and convenient for you.
Set up A Business Bank Account
After the company is incorporated, you will need to open a business bank account to facilitate business transactions. Should you need our services for this step, we offer bank account opening assistance. AO Corporate is proud to be a partner of ASPIRE SME Banking!
Types of Company Structures
Choosing the right business structure is like laying a solid foundation for your company’s long-term success.
Sole Proprietorship
Partnership
Limited Partnership
Limited Liability Partnership
Company
Owned By
One person
Between 2 and 20 partners
At least 2 partners; one
general partner and one
limited partner. No
maximum limit.
At least 2 partners, no
maximum limit.
Exempt Private Company – 20 members or less and no corporation holds beneficial interest in the company’s shares
Private Company – 50
members or less
Public Company – can have more than 50 members
Legal Status
Not a separate legal entity
Owner has unlimited liability
Can sue or be sued in
individual’s own name
Can also be sued in business name
Can own property in
individual’s name
Owner personally liable for debts and losses of business
Not a separate legal entity
Partners have unlimited
liability
Cannot sue or be sued in firm’s name
Cannot own property in firm’s name
Partners personally liable for partnership’s debts and losses incurred by other
partners
Not a separate legal entity
General partner has unlimited liability
Limited partner has limited liability
Cannot sue and or be sued in LP’s name
Cannot own property in LP’s name
General partner personally liable for debts and losses of the LP
Limited partner not personally liable for the debts or obligations of LP beyond amount of his agreed contribution
A separate legal entity from its partners
Partners have limited liability
Partners have limited liability
Can own property in LLP’s name
Partners personally liable for debts and losses resulting from their own wrongful actions
Partners not personally liable for debts and losses of LLP incurred by other partners
A separate legal entity from its members and directors
Members have limited liability
Can sue or be sued in company’s name
Can own property in
company’s name
Members not personally
liable for debts and losses of company
Why Do I Need A Director Based In Singapore?
Nominee Director
All Singapore Private Limited Companies (PLCs) must have at least one director who is “ordinarily” a Singapore resident, according to the Singapore Companies Act.
This is to avoid firms being closed down due to legal violations, and to have someone in charge of dealing with statutory demands from individuals and groups within the company. Essentially, the director or nominee director guarantees that everything is done in accordance with Singapore law and that fiduciary obligations are met.
You may need the services of a nominee director if you are a foreign investor intending to form a private limited company in Singapore without acquiring local residency. We recognize the necessity of hiring a capable and trustworthy professional to serve as your company’s local director. As a reputable corporate service provider, we are able to offer the local Nominee Director Service for your company.
Condition 1:
The service is offered for statutory compliance only. The Nominee Director will not be involved in any financial, operational matters or management of the company.
Condition 2:
You must appoint one or more individuals (normally, company shareholders) to be the directors that are responsible for running the company operations.
Frequently Asked Questions
- Disbursement to ACRA and Government Fees
- Free 1 Year Acting as Named Corporate Secretary
- Company Name Search
- Reservation of Company Name
- Preparation of Registration Forms
- Appointment of Named Secretary
- Constitution
- Business Profile
- E-Certificate of Incorporation
- 1st Board Meeting
- Company Share Certificates
- Advisory on Compliance Requirements
- Maintenance of Register of Registrable Controllers & Nominee Directors
- Exclusive Relationship Manager attached to each Company.
The following are some benefits:
- Tax Exemptions the first 3 years.
- Limited Liability (Limited to pay up compensations only up to indicated paid-up capital)
- Personal Assets of Directors/ Shareholders will not be implicated
No, the Nominee Director cannot manage and be involved in your company’s operations.
As an exception, the Nominee Director can sign a contract or invoice if the document is deemed acceptable to us.
Our Nominee Director will not have any financial, management, or operational interest in the company.
The Nominee Director’s main role is limited to comply with the statutory requirement of having a local resident director for your Singapore company.
If the foreign client is no longer reachable, the Nominee Director will be required to bear the company liquidation charges. Hence, we require a security deposit from our client who is engaging our Nominee Director service in the event that we need to close down the company.
The security deposit is your money that is temporarily held in our custody for the duration that you engage our Nominee Director Service.
The security deposit will immediately be refunded to you upon the termination of our Nominee Director Service.
Yes, you can terminate the Nominee Director Service anytime by providing us with the details of an alternate local resident director.
Need an Office Address, But Do Not Have A Physical Office?
You can have a registered address with free scanning and emailing of mail received to your email address for only a small monthly fee!
Corporate Address: 37 Jalan Pemimpin #06-12 Mapex Singapore 577177