Global Link Asia Consulting Pte Ltd

Support to set up company in Singapore

In order to set up company in Singapore, foreigners need to prepare:

Some highlights when setting up in Singapore

GLAC-icon-1 Company Name: The name must be approved before incorporation of the Singapore company can occur.

GLAC-icon-1 Shareholders: A Singapore private limited company can have a minimum of 1 and maximum of 50 shareholders. A director and shareholder can be the same or a different person. The shareholder can be a person or another legal entity such as another company or trust. 100% local or foreign shareholding is allowed. New shares can be issued or existing shares can be transferred to another person anytime after the Singapore company has gone through the incorporation process.

GLAC-icon-1 Directors: A minimum of one resident director (a resident is defined as a Singapore Citizen, a Singaporean Permanent Resident, or a person who has been issued an Entrepass, Employment Pass, or Dependent Pass) is mandatory. There is no limit on the number of additional local or foreign directors a Singapore Company can appoint. Directors must be at least 18 years of age and must not be bankrupt or convicted for any malpractice in the past. There is no requirement for the directors to also be shareholders, i.e. non-shareholders can be appointed directors.

GLAC-icon-1 Company Secretary: As per Section 171 of the Singapore Companies Act, every company must appoint a qualified company secretary within 6 months of its incorporation. It has to be noted that in case of a sole director/shareholder, the same person cannot act as the company secretary. The company secretary must be a natural person who is ordinarily resident in Singapore.

GLAC-icon-1 Registered Address: In order to register a Singapore company, you must provide a local Singapore address as the registered address of the company. The registered address must be a physical address (can be either a residential or commercial address) and cannot be a P.O. Box.

GLAC-icon-1 Paid-up Capital: Minimum paid-up capital for registration of a Singapore company is S$1. Paid-up capital (also known as share capital) can be increased anytime after the incorporation of the company. There is no concept of Authorized Capital for Singapore companies.

 

For more information regarding statutory when setting up in Singapore, read more at

This package is suitable for foreign entrepreneurs who wish to incorporate a Singapore company but don't plan to relocate to Singapore at present. This package includes the services of our nominee director to satisfy the statutory requirement of local resident director.

Package Details

1. Company Incorporation

- Name reservation and Preparation of incorporation documents
- Government and our professional fee
- Company Registered Address (RA) for 1 year
- Registration with Registrar of Companies, Electronic Certificate of Incorporation, Company profile extract form Registrar of Companies, Company profile extract form Registrar of Companies, Minutes of first board meeting, Share certificates
- Bank account opening assistance
- Company seal and Company rubber stamp

2. Nominee Local Director for 1 year (As you can see a nominee director is a Singapore citizen or a permanent resident which we provide only for the namesake to satisfy the legal requirement. Other than providing his name as a director and besides signing some forms during incorporation process this nominee director is in no way involved in your business.

*** GLAC-icon-note1 Note: A security deposit is required to be held for the duration that a nominee director service is provided. Upon resignation of our nominee director, the security deposit is refunded less any outstanding fees or disbursements

3. Company Secretary for 1 year. Each Singapore based company must appoint a qualified company secretary who needs to be appointed within 6 months of incorporation. He or she is knowledgeable and experienced with Singapore company laws. Secretary is like administrator of the company, who takes care of all compliance aspects.

Note: Global Link Asia Consulting  supports FREE design website <(strong>GlobalWeb - http://globalweb.asia/en/service/website-designing + registered domain name (domain.com) for 1st year (a fee for registering hosting (if any) will not be included). Beside the design aesthetic and usability, GLAC provides you “A Responsive Website Template” which will be fluid for viewing and navigations across a wide range of devices, especially mobiles devices. In addition, after designing a website, GLA will created 10 email addresses (5GB/ email) specific to the domain name you registered. Because your website domain is “domain.com”, the email address will beme@domain.com.   

For  more information about "Setting up company + Nominee Director" Package Details, read more at

 

This package is suitable for foreign entrepreneurs who wish to setup a business in Singapore and relocate (themselves or one of their key executives) to Singapore on an Employment Pass. Under this package, we will first incorporate your company and then apply for Employment Pass.

Package Details 

1. Company Incorporation
- Name reservation and Preparation of incorporation documents
- Government and our professional fee
- Company Registered Address (RA) for 1 year
- Registration with Registrar of Companies, Electronic Certificate of Incorporation, Company profile extract form Registrar of Companies, Company profile extract form Registrar of Companies, Minutes of first board meeting, Share certificates
- Bank account opening assistance
- Company seal and Company rubber stamp

2. Company Secretary for 1 year. Each Singapore based company must appoint a qualified company secretary who needs to be appointed within 6 months of incorporation. He or she is knowledgeable and experienced with Singapore company laws. Secretary is like administrator of the company, who takes care of all compliance aspects.

3. Employment Pass (EP) application filing for 1 applicant

4. Other optional services used with this package

- Company Registered Address (RA) for 1 year
- Dependant Pass for spouse
- Dependent Pass for child (per child)

For  more information about "Setting up company + Employment Pass " Package Details, read more at


 

 

Establishing company, branch office or representative one has each own pros and cons. Which one should be selected depends on parent company's conditions and purposes. However, when it comes to the purpose of business, making profits and most importantly seizing tax advantages, company appears to be the most appealing option.

 

Singapore Branch Office

Singapore Representative Office

Singapore Subsidiary Company

Legal Type

Not a separate legal entity but an extension of the parent company

Has no legal status but just a temporary administrative arrangement.Requirements: Parent Company must have sales turnover of more than US$ 250,000/- with years of establishment of at least 3 years.

Separate legal entity distinct from its parent company

Liabilities

Liabilities extend to parent company

Liabilities extend to parent company

Liabilities limited to subsidiary

Entity Name

Must be the same as the parent company

Must be the same as parent company plus must include 'Representative Office'

Can be the same or different from parent company

Allowed Activities

Must be the same as the parent company

Can only conduct market research or coordinating activities

Can be the same or different from parent company

Validity Period

Registered forever until closed

Has to be renewed every year with a 3 year maximum

Registered forever until closed

Taxation

Taxed as non-resident entity, local tax benefits not available

N/A as Rep Office cannot generate income

Taxed as Singapore resident entity, local tax benefits available

Annual Filing

Must file branch office as well as parent company's accounts

N/A

Must file accounts of the Singapore subsidiary

Bank Account

Can open bank account in Singapore

Can open bank account in Singapore to run the cost center operations; must be funded by the parent company

Can open bank account in Singapore

Staff Hiring

No restrictions on hiring local or foreign staff

Chief representative must be a staff member from the parent company. Can have limited staff only.

No restrictions on hiring local or foreign staff

Appointment of Officers

Must appoint at least two locally resident persons

Must appoint a Chief Representative who will relocate from headquarters

Must appoint at least one local resident director

 

For more information regarding setting up, read more at

1. Requirements for Representative office

Foreign companies must fulfill the following criteria:
- Sales turnover of the foreign company must be more than US$250,000
- No. of years of establishment of the foreign company must be more than 3 years
- Proposed number of staff for RO should be less than 5 people

2. Benefits of Representative office

A Representative Office (RO) is a business entity designed for foreign companies that are keen on exploring the viability of doing business in Singapore. If is also a useful vehicle for foreign companies who are interested in using Singapore as a launch pad into the Asia Pacific. Such foreign companies may wish to set up a Representative Office (RO). It has the benefit of allowing a foreign companies to assess the business environment in Singapore before deciding to set up a permanent establishment

A Representative Office must observe the following:

- It cannot engage in commercial revenue-generating activities.
- It cannot hire more than 4 staff.
- It may operate in Singapore for a maximum of three (3) years from its commencement date, provided that the RO status is evaluated and renewed. ROs which decide to continue their presence in Singapore thereafter should incorporate a company to commence full business operations.

3. Time for incorporating a Representative office

Once the application has been filled, it normally takes about 1 week to get approval from authorities. Sometime however, the authorities may ask for additional clarifications, which may delay the process by another 1-2 weeks.

4. Document required

Documents Required For Employment Pass Application Filing

- Copy of passport
- 1 passport size recent photo
- Copies of educational certificates (above high school)
- Copy of resume
- Copies of past employment testimonials, appointment letters, etc, if available
- Tenancy agreement for business operations address in Singapore
- 1-2 page document that outlines a) detailed description of the duties to be performed by the applicant; and b) detailed description of activities and/or products of the company
- If you have a similar existing business overseas, it would be helpful to provide details such as audited accounts, brochures, client contracts, website details, etc.

5. This package is suitable for foreign companies that wish to register a representative office in Singapore and relocate one of their key executives to Singapore on an Employment Pass. Under this package, we will first register your representative office and then apply for the Employment Pass.

- Singapore Rep Office Registration
- Bank account opening assistance, if required
- Government and our professional fee
- Employment Pass (EP) application filing for 1 applicant

For more information regarding setting up, read more at

1. Features of a branch

• The branch office name must match that of the parent company.
• It is considered to be an extension of the foreign parent company.
• It does not have a separate legal identity from the parent company.
• Two staff members (either residents or non-residents) must appointed to act as agents.
• The role of the agents is to support the operations and administration of the Branch Office.
• The foreign parent company is liable for the acts, losses and debts of its branch office.
• Non-resident staff acting as agents and relocating to Singapore must obtain an Employment Pass.
• The foreign parent company's Memorandum and Articles of Association will dictate the business activities of the branch office.
• Must have a registered office address in Singapore

2. Branch Office Registration Requirements

Branch Office Registration Requirements

• 1 Corporate shareholder
• Appoint at least 2 resident agents who represent the company. Agents can be residents or non-residents.
• Company name must be the same as the parent company
• Minimum paid-up capital of ONE share in any currency of any denomination (eg S$1)
• A local registered office address

3. Time for incorporating a branch from 03 – 07 days.

4. Any foreingers wish to move their staff in Singapore must apply for Employment Pass.

For more information about Employment Pass in Singapore, read more at

5. This package is suitable for foreign companies that wish to register a branch office in Singapore and relocate one of their key executives to Singapore to run branch office operations. As part of this package, we will register branch office, apply for Employment Pass for the key executive (who will act as one of the local agents) and provide nominee local agent service to satisfy the second local agent requirement.

a) Branch Office Registration

GLAC-icon-check1 Name reservation and Preparation of incorporation documents
GLAC-icon-check1 Registration with Registrar of Companies; Electronic Certificate of Incorporation; Company profile extract form Registrar of Companies; Minutes of first board meeting; Share certificates
GLAC-icon-check1 Bank account opening assistance
GLAC-icon-check1 Government and our professional fee
GLAC-icon-check1 Company seal and company rubber stamp

b) Bank account opening

c) Employment Pass application for 1 applicant.

For more information regarding setting up, read more at

 

1. Requirements of Subsidiary Company

• At least 1 shareholder.
• At least 1 resident director (Singapore citizen, permanent resident or employment pass holder).
• 1 locally resident Company Secretary.
• Minimum paid-up capital of ONE share in any currency of any denomination (eg S$1)
• A local registered office address.

2. Documents Required For Company Incorporation

For each corporate shareholder:

• Copy of the certificate of registration; and
• Current extract of company particulars from Registrar of Companies; and
• A board resolution approving the incorporation of the Singapore company and the proposed shareholding.

For each Singapore resident individual shareholder and director:

• Copy of Singapore IC; and
• Copy of passport if the individual is not a citizen of Singapore.

For each non-resident individual shareholder and director:

• Copy of passport; and
• Copy of residential address proof such as a recent utility bill, residential phone bill, tax bill, or cable TV bill.

*** Please note the following:
• All documents must be in English or officially translated in English;
• All copies of documents must be certified true copies by a notary public or you must bring the originals to our office for sighting;

3. Time for incorporating a subsidiary: from 3 – 7 days

4. This package is suitable for foreign companies that want to register a Singapore subsidiary but don't plan to relocate any their key executives to Singapore at present. Therefore this package includes the services of our nominee director to satisfy the statutory requirement of a local resident director.

a) Company Incorporation

- Name reservation and Preparation of incorporation documents
- Government and our professional fee
- Company Registered Address (RA) for 1 year
- Registration with Registrar of Companies, Electronic Certificate of Incorporation, Company profile extract form Registrar of Companies, Company profile extract form Registrar of Companies, Minutes of first board meeting, Share certificates
- Bank account opening assistance
- Company seal and Company rubber stamp

b) Company Secretary for 1 year. Each Singapore based company must appoint a qualified company secretary who needs to be appointed within 6 months of incorporation. He or she is knowledgeable and experienced with Singapore company laws. Secretary is like administrator of the company, who takes care of all compliance aspects.

c) Nominee director service for 1 year

For more information regarding setting up, read more at

 

1. Requirements of Subsidiary Company

• At least 1 shareholder.
• At least 1 resident director (Singapore citizen, permanent resident or employment pass holder).
• 1 locally resident Company Secretary.
• Minimum paid-up capital of ONE share in any currency of any denomination (eg S$1)
• A local registered office address.

2. Documents Required For Company Incorporation

For each corporate shareholder:

• Copy of the certificate of registration; and
• Current extract of company particulars from Registrar of Companies; and
• A board resolution approving the incorporation of the Singapore company and the proposed shareholding.

For each Singapore resident individual shareholder and director:

• Copy of Singapore IC; and
• Copy of passport if the individual is not a citizen of Singapore.

For each non-resident individual shareholder and director:

• Copy of passport; and
• Copy of residential address proof such as a recent utility bill, residential phone bill, tax bill, or cable TV bill.

*** Please note the following:
• All documents must be in English or officially translated in English;
• All copies of documents must be certified true copies by a notary public or you must bring the originals to our office for sighting;

3. Time for incorporating a subsidiary: from 3 – 7 days

4. This package is suitable for foreign entrepreneurs who wish to setup a business in Singapore and relocate (themselves or one of their key executives) to Singapore on an Employment Pass. Under this package, we will first incorporate your company and then apply for Employment Pass.

a) Company Incorporation

- Name reservation and Preparation of incorporation documents
- Government and our professional fee
- Company Registered Address (RA) for 1 year
- Registration with Registrar of Companies, Electronic Certificate of Incorporation, Company profile extract form Registrar of Companies, Company profile extract form Registrar of Companies, Minutes of first board meeting, Share certificates
- Bank account opening assistance
- Company seal and Company rubber stamp

b) Company Secretary for 1 year. Each Singapore based company must appoint a qualified company secretary who needs to be appointed within 6 months of incorporation. He or she is knowledgeable and experienced with Singapore company laws. Secretary is like administrator of the company, who takes care of all compliance aspects.

c) Nominee director service for 2 months

d) Employment pass for 01 applicant

5. Further information 

Eligibility criteria for Singapore Employment Pass

The Singapore Employment Pass is issued by the Ministry of Manpower and they are the approving authority for all applications. Among other considerations, the key eligibility criteria is as follows:

Key eligibility criteria for Employment Pass

- Applicant must have a fixed monthly salary of at least S$3,300 (3,600 SGD from 01/01/2017)
- Acceptable educational qualifications e.g degree or diploma from a reputed institution
- Recognised Professional qualifications
- Specialised skills
- Related work experience
- Since your Singapore Company will act as the "employer", the application of the Singapore Employment Pass can only be submitted after the incorporation of your company.

Time for processing Employment Pass

When the Employment Pass application is filed online, it takes anywhere between 1 to 10 working days to receive the outcome notification from authorities.. It may take longer during peak periods or when additional information is required from the various economic agencies.

When the Employment Pass application is filed manually, it takes anywhere between 3 to 6 weeks to receive the outcome notification from authorities.. It may take longer during peak periods or when additional information is required from the various economic agencies.

For more information regarding setting up, read more at

Incorporate now

Singapore Office
171 Chin Swee Road, #02 CES Center, Singapore 169877
VietNam Office
151 Dao Duy Anh st., Phu Nhuan dist., Ho Chi Minh city, Viet Nam
Phone
Singapore:(+65) 3163 4102 / Vietnam:(+84 ) 938531588
(+65) 8355 1210   (+65) 8355 1210
Email
info@globallinkconsulting.sg

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