Maximum number of shareholders is limited to 50 and the memorandum and articles of association restricts the right of its members to transfer their shares in the company.
A private company limited by shares can be classified as a exempt private company.
The key characteristics of an exempt private company is:
It is also exempted from prohibitions against loans to its directors or to companies related to its directors.
A company is a business entity registered under the Companies Act, Chapter 50. Most companies in Singapore are private companies limited by shares and are recognized by the suffix “Pte Ltd”.
Yes, all Singapore companies and subsidiaries need to have a registered address in Singapore.
Shareholders
own the company and are entitled to the profits of the company.
Directors
managing and overseeing the company operations, dealing with the everyday responsibilities.
A Singapore citizen, Singapore Permanent Resident or EP holder who is residing in Singapore.
Typically the following documentation will be required:
* Any documents that are not in English must be officially translated into English.
Yes, there are no restrictions prohibiting an individual assuming both roles.
A private company limited by shares must have at least one shareholder and no more than 50 shareholders.
A director can also hold the position of company secretary only if company has more than two directors and the director is qualified to do so.
There are several options you may consider.
A director can also hold the position of company secretary only if company has more than two directors and the director is qualified to do so.
Qualifications of a Company Director
Every Singapore company must have at least one director who is ordinarily resident in Singapore.
A Singapore citizen, Singapore Permanent Resident or EP holder who is residing in Singapore.
Yes, each company must appoint at least one director who is ordinarily resident in Singapore.
No, however there needs to be at least one director who is ordinarily resident in Singapore.
No. A director must be a natural person.
The responsibilities of a company director are rather onerous and therefore we usually require that certain conditions are met before we offer this service, such as:
No, directors are not required to own shares in the company but they are permitted to. Similarly, a shareholder does not have to be a director but is permitted to be appointed as such.
Directors are responsible for the decision-making and running of the business and ensuring the company is in compliance with its statutory obligations.
Yes, the Companies Act classifies all appointed directors as officers of the company.
Yes. Directors may be removed in the manner as prescribed in the company’s articles of association.
Yes. Directors must be appointed in the manner as prescribed in the company’s articles of association.
The company must have at least one director who must be ordinary resident in Singapore.
As a foreign company looking to register a subsidiary company in Singapore, what are our options if we do not have a local director?
There are several options you may consider: