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.
A company secretary is the person appointed to ensure the company’s maintains compliance with the many statutory requirements – such as maintaining and filing statutory records and returns.
Any natural person who is ordinarily resident in Singapore and who has the requisite knowledge to perform the duties.
A company secretary must be appointed within 6 months of setting up your company.
The company secretary is required to ensure that the company is in compliance with the relevant legal requirements.
This includes preparing and filing statutory registers and annual returns, directors’ reports, board resolutions,
minutes of the general meeting.
A company secretary can also be an employee of the company, but this is not a prerequisite. A company can also use the services of a third party service provider, such as ourselves, to comply with the company secretary requirement.
Yes, just as directors are officers, the Companies Act classifies a company secretary as an officer of the company, however directors are responsible and ultimately liable for the company’s compliance.
Yes. Our company secretarial services include:
Yes, the company secretary can be removed or appointed in the manner prescribed in the company’s articles of association.
Yes, the subsidiary will need to appoint a company secretary.