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Bestar-asia.com Publishes a Guide on How to Form a Private Limited Company in Singapore

Updated: 5 days ago



Bestar-asia.com Publishes a Guide on How to Form a Private Limited Company in Singapore


Bestar Asia's website has a guide on how to form a private limited company in Singapore.  You can find it on their website under the title "Guide to Singapore Company Registration" [Bestar Asia company registration guide].


How to form a private limited company in Singapore


Here's a breakdown of the steps involved in forming a private limited company in Singapore:


Before you begin:


  • Choose a Company Name:  Make sure the name is unique and available for registration. You can check availability through ACRA (Accounting and Corporate Regulatory Authority) Singapore's website [ACRA Singapore company name check].

  • Select a Business Activity: Identify your primary business activities and choose the corresponding Singapore Standard Industrial Classification (SSIC) code [Singapore SSIC code].


Key Requirements:


  • Shareholders: You need at least one shareholder (individual or company) and can have a maximum of 50. There's no restriction on nationality; 100% foreign shareholding is allowed.

  • Directors: At least one director must be ordinarily resident in Singapore. This can be a citizen, permanent resident, or someone with an Employment Pass/Entrepreneur Pass with a residential address.

  • Company Secretary: Every company must appoint a company secretary within six months of incorporation. This can be a director but cannot be the sole director.

  • Share Capital: The minimum initial paid-up capital is S$1.

  • Registered Office Address: You need a physical office address in Singapore to receive official documents.


Registration Process:


  1. Reserve your Company Name:  Submit an application through ACRA.

  2. Prepare Incorporation Documents: This includes the company constitution (similar to a shareholder agreement) and details of shareholders, directors, and company secretary.

  3. Submit your Application: Electronically file the registration application with ACRA. There are fees involved.

  4. Obtain Approval: Upon successful application, ACRA will issue an electronic Certificate of Incorporation.


Additional Steps:


  • Open a Corporate Bank Account: You'll need a business bank account to operate financially.

  • Appoint an Auditor (optional): Depending on your company's size and activities, you may need to appoint an auditor.

  • Register for GST (Goods and Services Tax): If your company's annual turnover exceeds S$1 million, you must register for GST.


How Bestar can Help

Bestar-asia.com Publishes a Guide on How to Form a Private Limited Company in Singapore


Bestar can be a valuable asset when forming a private limited company in Singapore. Here's how we can help:


Streamline the Process:


  • Expertise and Efficiency: We have extensive knowledge of Singapore's company registration procedures, saving you time and ensuring accuracy.

  • Minimal Paperwork: We handle most of the paperwork, freeing you to focus on your core business.

  • Compliance Ensured: We stay updated on regulations and ensure your application adheres to all requirements.


Additional Services:


  • Company Name Availability Checks: We can efficiently check for available and suitable company names.

  • Drafting Documents: We can draft the company constitution and other incorporation documents.

  • Liaison with ACRA: We can handle communication and submissions to ACRA on your behalf.

  • Opening a Corporate Bank Account:  We assist in setting up a business bank account.

  • Post-Registration Support:  Bestar offers ongoing services like corporate secretarial services and compliance reminders.


Benefits:


  • Reduced Risk of Errors:  Our expertise minimizes the chances of mistakes during registration, avoiding potential delays.

  • Save Time and Effort:  We handle the administrative burdens, allowing you to focus on getting your business operational.

  • Access to Network:  Bestar has connections to banks, lawyers, and other professionals that can benefit your business.


By leveraging Bestar's expertise, you can ensure a smooth and efficient company formation process in Singapore, allowing you to focus on launching your business successfully.








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