Application by a foreign company/individual is mandatory through a professional business registration firm.
A foreigner, who wants to relocate to Singapore to be the director of his own company needs to apply for an Employment Pass under the EntrePass Scheme at the Ministry of Manpower (MOM). Only upon approval of his EntrePass application, he may then proceed to himself incorporate the company with ACRA. He may also apply for an EntrePass if he owns a company registered with ACRA for not more than 6 months at the point of his EntrePass application.
A Company must have a registered office situated within Singapore. Your company registration agent can provide this service if required. You may alternatively register a residential flat or property under the Home Office Scheme (HO).
The first step in incorporating a company to obtain approval for the proposed name. Names for all companies in Singapore must conform to certain guidelines laid down in the Companies Act.
After the company name has been approved, the following incorporation documents must be prepared and filed:
- Memorandum & Articles of Association setting out the objects and bye-laws of the proposed company.
- Statutory Declaration of Compliance (Form 6)
- Certificate of Identity (Form 7)
- Notice of Situation of Registered Office and of Office Hours at time of Incorporation (Form 44)
- Consent to Act as Director & Statement of Non Disqualification to Act as Director (Form 45).
Alternatively to the above registration process, acquiring the shares of a shelf company allows an investor to almost immediately start a business in Singapore. Readily incorporated shelf companies with no prior business operations are easily available, usually with an authorized share capital of S$100,000 and a paid-up capital of S$ 2. The share transfer will normally take only one or two days.