QUESTION: Can directors of a company be a corporate entity? ANSWER: No. Corporate entities as directors are not permitted. Directors have to be a natural person of full capacity & age 18 years or above (with effect from 1 March 2009). There must be a minimum of 1 Resident Director in the private limited company made up of either: Singapore Citizen / Singapore Permanent Resident / Entrepreneur Pass holder
QUESTION: What is a Company? ANSWER: A company is an incorporated entity and once registered under the Companies Act, Chapter 50, it has legal personality. It is different from a business firm and usually has the words 'Pte Ltd' (Private Limited) or 'Ltd' (Limited) as part of its name. The 3 types of company: * Exempt Private Company – An exempt private company is a private limited company, of which all shares are not held directly or indirectly by any corporation (i.e. another limited company), and which has not more than 20 members. * Private Company –50 shareholders or less * Public Company – can have more than 50 shareholders
QUESTION: What is the minimum and maximum number of directors allowed? ANSWER: A minimum of one Local Resident Director is required and you can have unlimited numbers of directors in a company
QUESTION: Are there any restrictions on choosing of company names? ANSWER: Generally, a company name must be approved before the company can be incorporated with ACRA. ACRA reserves the right to not approve of company names that is identical to the name of another any other company, corporation or limited liability partnership or to a business name. Undesirable names, names identical to a name being reserved under the Companies Act, Business Registration Act or the Limited Liability Partnerships Act and of a kind that the Minister has directed the Registrar not to accept for registration
QUESTION: Would there be any residential, nationality and other requirements for directors? ANSWER: Singapore private limited company must have one director who must be “ordinarily resident in Singapore” i.e. a Singapore Citizen / Singapore Permanent Resident / Entrepreneur Pass holder You must not be an undischarged bankrupt or you must have obtained the permission of the High Court or the Official Assignee if you are planning to register a business entity in Singapore
QUESTION: What is the minimum age of the company directors? ANSWER: Directors have to be a natural person of full capacity & age 18 years or above (with effect from 1 March 2009).
QUESTION: Can I register a company if I do not physical office in Singapore? ANSWER: Yes, you can still register a company by using our registered address services at annual fees of SGD$60 per year. An email notification will be sent to your designated email address should we receive a letter for your company.