It is quite easy for an Indian to start a private limited company in Singapore. You will not face red-tape or bureaucratic hurdles during the task. In fact, if you appoint a reliable provider of Singapore company registration services, you can get your company in 1-3 days.

Singapore Company Registration Process

Yes, you will need to appoint an incorporation services provider, as authorities here do not allow foreigners to open a company in Singapore on their own. On the other hand, you can rely on these experts who can give you timely advice on the Singapore company formation process.

You will need to complete the process in two steps:

  • Get your company name registered with ACRA
  • Apply to ACRA for your Singapore company formation

Pre-Incorporation Criterion

Before you start the process, you will need to fulfil the following pre-incorporation criterion. You need to have:

  • Minimum initial paid-up capital of S$1
  • At least one shareholder (maximum 50)
  • At least one resident director
  • At least one company secretary
  • Registered local office address

We, as your registered filing agent, can initiate the process for you by visiting ACRA's BizFile+ portal.

Company Name Registration With ACRA

You will need to submit us a list of 3-6 company names. Here, our experts will check the availability of a company name from your list. We will pay the ACRA's fee of S$15 and register the available company name in your name. You will then have a period of 60 days to register your business.

Choose an Appropriate Business Name

ACRA, as the Company Registrar of Singapore, has the right to reject any vulgar, black-listed, or inappropriate names. Choose a name that will identify with your business activities and will be self-explanatory to your customers.

Your company name also cannot be similar to any existing company registered in Singapore. If it contains terms like, 'Education', 'Finance', 'Bank', it will get referred to higher authorities and may take up to 2 months to get approved.

Registering a Private Limited Company with ACRA

You can incorporate a Singapore private limited company, if you are over the age of 18 years, regardless of nationality. This business structure will enable you to control the risk, liability, business growth, & brand image to a great extent. It will also keep your amount of income tax to a minimum.

Our experts log-in on BizFile+ to pay ACRA's fee of S$300 and to register your company. We submit all your incorporation documents to ACRA filing appropriate details. The approval for your application may come in 1-3 days. ACRA sends an email containing Incorporation Certificate, Unique Entity Number (UEN), etc.

Singapore Incorporation Documents

You need to put together documents in the following list and submit them to us.

  • ACRA approved company name
  • Description of business activities
  • Registered local office address
  • Particulars of shareholders, directors, company secretary
  • Foreign Individuals: a copy of passport & proof of residential address (overseas)

A private limited company is credible, dynamic, and scalable.

  • It has a legal identity separate from its shareholder.
  • Shareholders' liability is limited to the amount they used to purchase its shares.
  • We can assist you in structuring it as a tax-efficient entity.
  • You can own 100% of its shares.
  • The company income tax ranges from 0%-17%. You, as its shareholders, do not have to worry about it.
  • You will need to pay personal income tax (0%-22%) on your salary. However, the dividends you get will be tax-free.
  • As a local company, it can access tax exemptions, benefits, and rebates offered by the authorities.
  • Your company can quickly raise funds from banks, financial institutes, or sell shares to investors for its expansion.

Relocate to Singapore: EntrePass Or Employment Pass

You can start your new company set up in Singapore without any hassle. Afterwards, you can choose to relocate or not to Singapore. Yes! It is not a compulsion. You can manage your Singapore company from India. Our experts can advise you on the implications of such an action.

To relocate and work in Singapore, you will need a work visa or pass, such as an Employment Pass or Entrepreneur Pass. These passes are purposed differently.

Entrepreneur Pass

You can apply to MOM for an Entrepreneur Pass and then register your company. In this case, you need to fulfil a number of conditions for acquiring this pass. And you can act as the local or resident director of your company.

Employment pass

In the case of the Employment pass, first, you will need to register your company. You will need to provide a local or resident director at the time of registration. You can employ a Singaporean or Permanent Resident in this position. Later on, your company needs to apply to MOM to acquire an Employment pass for you. You can join it as a foreign director.

Shareholders’ Agreement

You will need to prepare shareholders’ agreement to define the rights, obligations, and relationships of shareholders' of your company. It is useful for avoiding disputes & disagreements.

Company Constitution

You will also need to prepare M&AA or Constitution for your company. This document describes your company governance and how it will carry out business activities. We can buy a model constitution for you from ACRA. Or, you can get a customized constitution.

Corporate Bank Account

Your company will need a corporate bank account to streamline expenses and income. We provide assistance for opening such an account in a Singapore bank. The bank may ask you, shareholders, and company secretary to be physically present to do so.

Appointing Employees

It will be all right if you only employ a resident director and corporate secretary. Depending on your compliance, you may also have to hire an auditor. You may start your business activities alone. Later on, hire employees as and when you need them.

Business Licenses and Permits

You may need business licenses and permits to run your new company set up in Singapore. Get them from the authorities before being active in the market.

The incorporation certificate is proof of your company's existence. You will need it, in addition to the UEN, to sign contracts for office space and business deals your company's behalf.

SBS Consulting is a registered filing agent in Singapore. We assist foreigners, including Indian citizens in Singapore company registration. Our packages start at S$699.

Author's Bio: 

I am a technical consultant & a writer who loves to forge knowledge of software products & services.