Global Link Asia Consulting Pte Ltd

Support to set up company in Singapore

Some highlights when setting up a company in Singapore

GLAC-icon-1 Company NameThe name must be approved by ACRA (The Accounting and Corporate Regulatory Authority) before the incorporation of the Singapore company occurs.

GLAC-icon-1 Shareholders: It’s required a minimum of one and a maximum of fifty shareholders. A person can be both a director and shareholder for the company in Singapore. The shareholder who is allowed to own 100% of shares can be a person or legal entity such as a company or trust. New shares can be issued, or existing shares can be transferred to another person anytime after the company has gone through the incorporation process. Note that a person can be both a director and shareholder for the company in Singapore.

GLAC-icon-1 Nominee Director: In case you are a foreigner who wishes setting up a company in Singapore, it’s required a minimum of one resident to be a nominee director for your company in Singapore apart from a foreigner director. The resident is defined as a Singapore Citizen, a Singaporean Permanent Resident, or a foreigner who has been issued an Employment Pass or EntrePass. Moreover, to be the nominee director, he/she must be at least 18 years of age and must not be bankrupt or convicted for any malpractice in the past.

GLAC-icon-1 Company Secretary: According to 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 the 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: 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 which can be either a residential or commercial address but cannot be a P.O. Box.

GLAC-icon-1 Paid-up Capital: Minimum paid-up capital for registration of a Singapore company is 1 SGD or 1 USD. The paid-up capital (also known as share capital) can be increased anytime after the company is incorporated.

Step 1: Consultant

In order to help a client getting basic information related to register a company in Singapore, we will provide a consultant via phone. Then, an email with details of the process and fee of setting up a company in Singapore will be emailed to the client.

A phone number for contact us (+65) 3163 4102 or email of info@globallinkconsulting.sg

Step 2: Making a payment

You are required to make the first payment for us after agreeing to use our service. The rest of the fee will be filled after you receive a certificate of incorporation of a registered company in Singapore. 

Step 3: Providing required documents to GLAC

To incorporate a company in Singapore, you (refer shareholders and a director)  need to submit the required documents as follows:

  • A valid passport at least for 6 months
  • Proof of address (refer to Identity card/ vehicle license/ bank statement)

Sending scanned copies of passport and proof of address to us via an email only

Step 4: Implement a Singapore company incorporation

We, on behalf of the client, will submit the registering company process to ACRA. Then, you will receive a certificate of incorporation and biz profile company after 2 to 3 working days.

Step 5: Opening a bank account

After registering the company with ACRA, GLAC will continue to support opening a bank account. You are required to come to Singapore for a face-to-face interview with a banker.

From the date of signing the required documents with the banker in Singapore, an account number will be issued within 5 to 7 working days. Since you have the account number, it is allowed you to transfer and receive money with your partners/ clients.
Bank token and Pin code for online banking will be provided within 10 to 12 working days from the date of receiving the account number.

This package suits for foreign entrepreneurs who wish to incorporate a company in Singapore but don't plan to relocate to Singapore at present. This package includes a nominee director service to satisfy the statutory requirement of the resident director.

Package Details

1. Company Incorporation
  • Name reservation and preparation of incorporation documents
  • Government fee
  • Local director (nominee director) for the first year
  • Company Registered Address for the first year
  • Registration with the Registrar of Companies, Electronic Certificate of Incorporation, Company profile extract from the Registrar of Companies, Company profile extract from the Registrar of Companies, Minutes of first board meeting, Share certificates, etc.
  • Bank account opening assistance
  • Company seal and Company rubber stamp

2. Nominee Local Director for 1 year (It will be a Singapore citizen whom we provide only for a namesake to satisfy the legal requirement. Other than providing his name as a director and signing some forms during the 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 the administrator of the company, who takes care of all compliance aspects.

Note: GLAC supports a FREE design website (GlobalWeb - http://globalweb.asia/en/service/website-designing  + registered domain name (domain.com) for 1st year (a fee for registering a hosting (if any) will not be included). Apart from 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 mobile devices. Additionally, GLAC also creates10 email addresses (5GB/ email) specific to the domain name you registered. Because your website domain is “domain.com”, the email address will be “me@domain.com .    

This package suits for foreign entrepreneurs who wish to register a business in Singapore and relocate to Singapore upon an Employment Pass visa. Under this package, we will first support you in company incorporation and then applying for Employment Pass.

Package Details 

1. Company Incorporation

  • Name reservation and preparation of incorporation documents
  • Government fee
  • Local director (nominee director) for a period which is discussed between you and GLAC
  • Company Registered Address for the first year
  • Registration with the Registrar of Companies, Electronic Certificate of Incorporation, Company profile extract from the Registrar of Companies, Company profile extract from 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 the administrator of the company, who takes care of all compliance aspects.)

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

 

A representative office, branch and company are three types of business entity which a foreign company can consider to register in Singapore.

It’s depended on the company’s purposes and conditions, you can decide a structure which is the most suitable. To help you choose the right decision, a below table will illustrate the advantages and disadvantages of the three types of business entities.

 

Singapore representative office

Singapore branch office

Singapore company

Legal types

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

Has no legal status, a temporary administrative arrangement

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 parent company plus must include ‘Representative Office’

Must be the same as the parent company

Can be the same or different from parent company

Allowed Activities

Can only conduct market research or feasibility studies

Must be the same as the parent company

Can be the same or different from parent company

Validity Period

Has to be renewed every year up to a maximum of 3 years

Registered forever until closed

Registered forever until closed

Normal Registration Time

7 - 10 working days

7 - 10 working days

3 - 5 working days

Taxation

Not applicable as representative office cannot generate income

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

Taxed as Singapore resident entity, local tax benefits available

Annual Filing

Not applicable

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

Must file accounts of the Singapore subsidiary

Bank Account

Can open bank account in Singapore to run the cost centre operations. Must be funded by the parent company

Can open bank account in Singapore

Can open bank account in Singapore

Staff Hiring

Chief Representative must be a staff member from the parent company. Can have only five employees

No restrictions on hiring local or foreign staff

No restrictions on hiring local or foreign staff

Appointment of Officers

Must appoint a Chief Representative who will relocate from headquarters

Must appoint at least one local authorised representative

Must appoint at least one local resident director

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. It is also a useful vehicle for foreign companies who are interested in using Singapore as a launchpad 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. 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 Representative Office Registration
- Bank account opening assistance, if required
- Government and our professional fee
- Employment Pass (EP) application filing for 1 applicant

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 be 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 three (3) to seven (7) working days

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

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 the 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

1. Requirements for setting up a 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 three (3) to five (5) working days

4. This package is suitable for foreign companies that want to register a Singapore subsidiary but don't plan to relocate any of 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 from Registrar of Companies, Company profile extract from 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 the administrator of the company, who takes care of all compliance aspects.

c) Nominee director service for 1 year

 1. Requirements for setting up a 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 three (3) to five (5) working days

4. This package is suitable for foreign entrepreneurs who wish to set up 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 from Registrar of Companies, Company profile extract from 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 the 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
- Recognized Professional qualifications
- Specialized 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.

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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