Doing Business in Singapore

Doing Business in Singapore 

Secretarial compliances:

All companies must have at least one resident director in Singapore at all times. A director of a company has fiduciary and statutory duties and can be subject to civil or criminal penalties.

It is mandatory for a company to hold its annual general meeting (AGM) of shareholders where the financial statements will be presented to theshareholders. A newly incorporated company will need to hold its first AGM within 18 months from the date of incorporation. The AGM must be held every year with each not more than 15 months from the previous AGM. A company is also required to complete and lodge an annual return with ACRA within one month after the date of AGM.

Key aspects about company:

 Paid-up share capital – minimum SGD 1. There is no concept of authorized share capital

Company secretary – the company must appoint a qualified company secretary

Shareholders - a private limited company can have a minimum of 1 and maximum of 50 shareholders. The shareholder can be an individual or a legal entity and 100% foreign shareholding is allowed.

Registered address – The address must be a physical address and cannot be a PO Box