Here is a brief overview of the minimum requirements of incorporating a private limited company in the Singapore.
Unlike in other countries, business associates who are not citizens of Singapore are allowed to hold 100% ownership of a business. Though not mandatory, the firm assisting you to register your business can act as a nominated shareholder in the company.
2# One Local Director
According to the current company incorporation regulation, one of the company directors has to be a citizen of Singapore.
3# Company Secretary
All private limited companies operating in Singapore are required to appoint a citizen of Singapore as the company secretary.
4# Minimum Share Capital
For a Singapore company incorporation process to be a success, the minimum share capital requirement is S$1. However, it is important to note that some niches require higher share capital than others based on their respective regulations.
5# Physical Address in the Country
The company needs to have a local address in the country that will be used for official purposes. For instance, the local address has to be included in all official documents such as contract agreement forms and employment forms.