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Singapore is reputed to be one of the most business friendly country worldwide. With this, there has been a steady growth of company setups and registration in Singapore which added has to its strong economic status. The Singapore private limited company is easily one of the most preferred business setup of foreigners.

This business setup is preferred since Singapore allows 100% foreign shareholding and most foreign entrepreneurs find it convenient to set up a Singapore private limited company and own 100% from the shareholding. It is also treated as a separate legal entity that’s distinct from the members. So its liabilities don’t extend to its members personal assets. In the event of debts or liabilities of the private limited company, members’ personal assets remain protected.

Below are the basic requirements for a Singapore company registration:

1. Minimum of $1 for the paid up capital
2. Minimum of 1 local resident director (i.e. Singapore citizen, Singapore Permanent Resident or Singapore work pass holder) that is a natural person and above 18 years.
3. Minimum of one local or foreign shareholder.
4. Appointment of 1 local company secretary.
5. Accessibility to an organization registered address.

Here are also the documents needed for the Singapore company registration. Note that all documents should be in English or officially endorsed English translated versions.

1. The approved name of your Singapore corporation;
2. A quick about the proposed business activities that your Singapore corporation will participate in;
3. Particulars with the Singapore corporation’s directors, shareholders and company secretary (for instance name, address, citizenship, etc.);
4. The corporation’s Memorandum and Articles of Association (MAA);
5. Passport copies or Singapore Identity card (IC) copies of proposed shareholders and directors;
6. Residential address proof of proposed non-resident shareholders and directors; and
7. Details from the parent company if the shareholder is really a corporate body.

Note also that if you’re a foreigner and you wish to register a Singapore company, you need to setup your company through a reputable Singapore Company Registrar. This is because since Singapore does not allow foreign individuals or entities to self-incorporate or register a Singapore corporation.

On the other hand however if you are resident you have the option to self-register a Singapore corporation. Keep in mind that in case you are self-registering a Singapore corporation, all the directors, the organization secretary and shareholders must either be Singapore citizens, Singapore PRs or Singapore work pass holders.

Author box:
Asiabiz is the leading Singapore Company Registrar. It has successfully helped thousands of foreign entrepreneurs register a Singapore company. The firm provides a complete corporate solution under one roof to be able to incorporate a Singapore company with the opening of corporate accounts and corporate services including accounting, tax, immigration related to work passes visa and compliance services in Singapore.