How to incorporate a company in Singapore
Before we begin, if you haven’t been convinced about why you should incorporate your business…
READ: WHY SHOULD I INCORPORATE MY BUSINESS?
So now that you have decided to go ahead with setting up a company, how do you go about with incorporation in Singapore? How do you get a company registered in Singapore?
We understand that company registration in Singapore can be tricky and confusing so that’s where Everyday Corporate steps in to help.
What you need to start your company:
✓ 1 Shareholder
✓ $1 Share capital
✓ 1 Resident director
✓ 1 Company Secretary
✓ An address in Singapore
Let us do the work to incorporate a company in Singapore:
You provide us with some information about your business
✓ Up to 3 company names (in case your preferred name is taken)
✓ What your business does
✓ Details of your directors & shareholders and share capital with proof of identityWe advise you on
✓ Legal structure (i.e what business entity structure you should incorporate)
✓ Business activity code (SSIC code) which stands for Singapore Standard Industrial Classification to classify your business activity and required by ACRA for incorporation
✓ Tax implications on Choosing your Financial year endWe prepare the documents, and all you need to do is just to check & sign them
✓ Consent to act as a director
✓ Company constitutions
✓ Incorporation applicationThat’s it, we file the paperwork and you get a company!
Yes, it’s that simple.
What happens after I incorporate my company?
Here are the documents you will receive from us:
✓ Company’s constitution
✓ First Director’s Resolution
✓ First notice of AGM and AGM meeting minutes
✓ First ordinary resolution
✓ Form 45: Consent to act as a Director
✓ Form 45B: Consent to act as a Secretary
✓ Shareholder(s) certificate(s)
✓ First business profile (Bizfile) from ACRA
✓ Registers (CEO, Directors, Members, Secretaries, Registrable Controllers)
When you incorporate with Everyday Corporate, you get a corporate secretary to sit on your company for 1 year to govern the liability and responsibility.
Most importantly, after incorporation, there are administrative requirements that you need to adhere to by Singapore law. According to the Singapore Companies Act, every Singapore company must file certain reports annually to the respective government bodies. These compliance requirements are mandatory and have a specific deadline to be adhered to.
✓Annual Financial Year End (FYE) Statement
You can choose any date to be your financial year end, for example, 30 June.
✓Annual Returns Filing with ACRA
3 to 6 months after FYE
✓Annual General Meeting (AGM)
4 to 6 months after FYE
✓ Estimated Chargeable Income (ECI)
3 months after FYE
✓ File Annual Tax Returns (Form C-S / C)
30th Nov after FYE
Non-compliance may result in late penalties or further enforcement action which might even result in a court appearance if not settled in a timely fashion. We understand that remembering the deadlines for filing can be difficult when you’re busy running a business.
Our dedicated team of experts are here to remind you of each deadline when it is approaching.
With this, you never have to worry about missing another filing deadline. It is our job to help you navigate these confusing administrative regulations and put your mind at ease.
(!) Be fully aware that many other firms who might help you incorporate your business, stop at just the incorporation of your company. They do not provide an after service team to remind you of your filing deadlines nor guide you on the processes that are required for annual compliance obligations.
Reach out to our dedicated team to understand more on how we can help you to incorporate your company.
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