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  • Company formation in Singapore

    I'm hoping someone can provide me with some accurate information on my query. As a foreign investor do I need a local partner to form a company in Singapore? I understand that there needs to be a local director??

    thanks,
    Cris

  • #2
    Re: Company formation in Singapore

    As per Singapore Companies Act, a foreigner can own 100% of a Singapore private limited company. Therefore from a company ownership point of view, you do not require a local partner. However, the Singapore Companies Act does require that at least one of the directors must be a locally resident director. There are number of different ways you can satisfy this requirement:
    • If you plan to relocate to Singapore to run your company, you will need to apply for a work visa (employment pass or entrepass) under your new entity. Once your employment visa is approved, you can act as the local resident director.
    • If you have a local partner or know somebody in Singapore who is willing to act as the local director, your problem is solved.
    • Alternatively, most firms in Singapore that specialize in corporate services can offer you the services of a professional nominee director for an annual fee. The nominee director does not require any shareholding in the company and need not be involved in the company management or banking matters. The professional services firm will likely ask you to sign an indemnity letter that covers both sides.

    For more information refer to Singapore Company Registration Guide

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    • #3
      Re: Company formation in Singapore

      No you dont need a local partner.

      For Singapore company incorporation you will need the following information and documents:
      • Company Name
      • Registered Address
      • A Description of Business Activities
      • Shareholders Particulars
      • Directors Particulars
      • Company Secretary Particulars
      • Memorandum and Articles of Association (MAA).
      • A copy of Singapore identity card (IC) for Singapore Residents or a copy of passport, overseas residential address proof, and other information for foreigners.
      • If the shareholder is a corporate entity, you need to submit a copy of registration documents such as Certificate of Incorporation and Memorandum & Articles of Association.

      For non-English documents, an officially-endorsed translated version is required.

      For more information on Singapore Business Registration you can read more on:

      FAQ on Singapore Company Incorporation | Singapore Business Registration | Singapore Company Formation

      And if you need help on your Singapore company incorporation, you can visit this website:

      www.asiabizservices.com

      Comment


      • #4
        Re: Company formation in Singapore

        The nominee director does not require any shareholding in the company and need not be involved in the company management or banking matters.

        Thanks for sharing.

        bizcom.asia (company incorporation Singapore)

        Comment


        • #5
          Re: Company formation in Singapore

          To incorporate a company in Singapore you do not need a local partner. As a foreigner, you are allowed to own 100% shares of your company in a private limited company. However, the foremost thing you have to understand is, a foreigner incorporating a business in Singapore has to seek assistance from the local registered agent or firm offering Singapore company incorporation services.
          You are right about the requirement of a local director. According to the Singapore Companies Act, it is mandatory to appoint a company director who is a local Singapore resident. If you plan to employ more than one director’s, then you will have to ensure that at least one director is a Singapore resident.



          If anyone finds it difficult to fulfill these obligations, taking advice from the hired Singapore incorporation service provider is the best way to tackle all the obstacles in the way of Singapore company incorporation.
          SBS Consulting offers leading Singapore business incorporation / Singapore company registration and corporate services in Singapore.

          Comment


          • #6
            Re: Company formation in Singapore

            Singapore allows companies that are wholly owned by foreigners. You are, however, required to hire the services of a professional solutions provider or a local agent to assist you in your Singapore company registration. Please take note as well that one of the requirements to register your business in the city-state is to have at least 1 local company director.

            __________________________

            Richmond Corporate Advisory offers a wide array of professional services including company incorporation, offshore company setup, accounting & payroll, corporate secretarial, taxation and business consultancy to SMEs.
            Singapore Company Incorporation

            Comment


            • #7
              Originally posted by crisandrews06 View Post
              I'm hoping someone can provide me with some accurate information on my query. As a foreign investor do I need a local partner to form a company in Singapore? I understand that there needs to be a local director??

              thanks,
              Cris
              Singapore laws allow you to own 100% of your comapny, even as a foreigner, therefore you do not need a local partner. This is one of the reasons that makes singapore so attractive to start a business in. You however, do need at least one local director as you said, If you know someone residing in singapore who is willing to serve this position for you, your problem is solved. Else, there are expert firms such as Rikvin who offer a nominee director service- you can hire a director who would not be involved in your business matters at all for a cheap annual fee. Find more information here: https://www.rikvin.com/services/sing...inee-director/

              Comment


              • #8
                And with Hong Kong increasingly under communist control (if you can believe it--Hong Kong the heart of Asian capitalism), Singapore is looking better and better!

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