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.
Yes, once your company is incorporated, you will be able to open a corporate bank account.
This will depend on the specific bank of your choice. Often a corporate bank account can be opened without your physical presence; however this is usually established on a case-by-case basis.
Singapore has a wide range of reputable and international banks, including:
No, this can only be done once your company has been incorporated.
Yes, but this will depend on your choice of bank and the specific account chosen.
Case 1 | Case 2 | Case 3 | Case 4 | |
---|---|---|---|---|
Director | ||||
Nominee Director | ||||
Shareholder | ||||
Secretary | ||||
Authorised Signatory / Approved Person (AP) |
Case 1 | Approved Person = Foreign Director, with Nominee Director [1 Foreign Director + 1 Local Director + AP] |
Case 2 | Approved Person = Foreign Director, without Nominee Director [1 Foreign Director + 1 Foreign Director + AP] |
Case 3 | Approved Person = Shareholder, with Nominee director [1 Local Director + 1 Foreign Director + AP] |
Case 4 | Approved Person = 3rd Party, with Nominee Director [1 Local Director + 1 Foreign Director + AP] |
* Approved Person = Authorised Signatory, AP
* "[ ]" Required person who need to attend a bank meeting