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.
Local Employees (Singapore Citizens and Permanent Residents): You will be required to pay Central Provident Fund contributions for each local employee at the specified rate calculated according to a percentage of their salary.
Foreign Employees: CPF contributions are not required for foreign employees.
In Singapore, employees are responsible for their own income tax payments and Employers are not required to withhold any income tax, with the exception of when an EP holder plans to leave Singapore, in which case a tax clearance certificate is required.
