Taking Your Business to the Next Level and Beyond

  • Starting a business is a thrilling and satisfying experience, but it can get a bit stressful too.
  • You have to make a lot of hard decisions early on. One of the most important is choosing the right business structure.
  • The kind of business entity you choose can influence everything. From how you determine owner compensation to how much you’ll pay in taxes.
  • So why risk making the wrong choice? Give us a call to hear our advice.

What Does Incorporation Mean?

  • Incorporation is the legal process used to form a corporate entity or company. A corporation is a separate legal entity from its owners (shareholders).
  • This translates into a variety of benefits for the energetic entrepreneur.
  • Our team is more than happy to guide you through the whole process while explaining the pros and cons.
  • Stay clever, make an informed decision.

Should You Incorporate Your Business In Singapore?

An incorporated business presents a wide variety of advantages. Some of these are:

  • Limited Liability
    This means that your financial liability is limited to a fixed amount, usually the worth of your investment in the company.So, in case of lawsuit or bankruptcy, you won’t be heldpersonally responsible for the debts of the corporation. Other than for the amount already invested in the company, of course.
  • Tax Benefits
    A happy fact is that corporations profit from lower tax rates as well. To make things better, Singapore already offers the lowest corporate tax rates in the world and no capital gains tax either.Your company will pay less than 9% for the first S$300,000 annual profits and 17% flat thereafter.
  • Adaptable Financing Options
    You can raise capital for your business a lot faster by issuing shares to business partners, investors and even your friends and family.
  • Continuous Lifespan
    A corporation and its founder are two distinct legal entities. So your company’s existence is not limited to your lifespan. This means your business can grow forever and you can even transfer it to future generations.
  • Increased Trust
    There are many businesses out there. But those that operate under the form of a company inspire more credibility to the customer.
How can we help you?

Contact us at Upvue or submit a business inquiry online.

The services that Upvue rendered are fast and accurate. Will recommend to my business partners for sure. Keep up the good work.

Kenny Lim
Director, Maxdine Pte Ltd

Important Stuff

  • Company Name.  Before everything, you need an approved company name. You choose the name, we handle the rest.
  • Directors.  Your company must have at least one ‘Resident Director’ (a Singapore Citizen, a Permanent Resident of Singapore, or a person who has been issued an Entrepass, Employment Pass, or Dependent Pass).There is no limit to the number of extra local or foreign directors that the company can appoint.Directors must be at least 18 years of age and must not be bankrupt or convicted for any malpractice in the past. There is no need for the directors to also be shareholders. So non-shareholders can be appointed directors too.
  • Shareholders.  A private limited company can have a minimum of 1 and a maximum of 50 shareholders.A director and a shareholder can be the same or a different person. The shareholder can be a person or another legal entity such as another company or trust.
    100% local or foreign shareholding is allowed.You can issue new shares or transfer existing shares to another person any time after the incorporation process.
  • Company Secretary. Every company must appoint a qualified company secretary within 6 months of incorporation.In case of a sole director/shareholder, the same person cannot act as the company secretary.The company secretary must be a natural person who is also resident in Singapore.
  • Paid-up Capital.  You only need S$1 of paid-up capital to register your company.You can increase the paid-up capital at any time after the incorporation is complete. There is no concept of Authorized Capital for Singapore companies.
  • Registered Address. To register a company in Singapore, you must provide a local Singapore address as the registered address of the company.The registered address must be a physical address (can be either a residential or commercial address) and cannot be a P.O. Box.

The incorporation process is usually a smooth one. But we still need the following information from you:

  1. An approved company name
  2. A short description of the company’s activity
  3. Shareholders’ personal details
  4. Directors’ personal details
  5. The registered address of the business
  6. Company Secretary’s details
  7. Memorandum and Articles of Association (MAA).
  8. For non-residents: Copy of passport, proof of overseas residential address, and other Know-Your-Client (KYC) information (such as a bank reference letter, personal and business profile, etc.
  9. For Singapore residents: Copy of Singapore identity card
  10. If the shareholder is a corporate entity: Copy of registration documents – such as Certificate of Incorporation and Memorandum & Articles of Association

Good news! The Singapore Registrar of Companies has a computerized system, so the process is fast and efficient.

Registration only takes 2 steps and it’s usually done in one day:

  1. Getting your company’s name approved.
  2. Theactual registration of your company.

1. Getting Your Company’s Name Approved

After you pick a cool name for your business, we file the application for you as part of our service.

This part of the process can take less than an hour – unless you want to use special words (like bank, finance, law, media) that need special approval. In that case it might take a few days.

It is crucial to choose a name that is unique, or not too similar to an existing company. Make sure it doesn’t infringe any trademarks. Also, it’s wise not to use a name that is internationally registered. And of course it cannot be vulgar, or already in use or reserved.

Once approved, the name is reserved for 60 days. This can be extended for another 60 days by filing an extension right before expiry.

2. The Actual Registration of Your Company

Once your company name has been approved, we will file the approval along with the incorporation application. Assuming that all documentation and supporting evidence is in order, registration forms can be ready for signing by the director(s) and shareholders(s) of the new company in a matter of hours. Rarely are there any delays. A S$300 registration fee is payable at the time of incorporating a private company.

Congratulations! You are now the proud CEO of your company.

This means you get two documents (the Notification of Incorporation and a Company Business Profile).

In Singapore, they are enough for all legal and contractual purposes. Those could include: opening corporate bank accounts, signing office leases, subscribing to telephone/internet services, etc.

Certificate of Incorporation

The Company Registrar will send an official email notification confirming the incorporation of the company. This includes the company registration number. This email stands as the official certificate of incorporation in Singapore. If you prefer a hard copy, you can apply online after incorporation, but there is a charge of approx. S$50. You can take the hard copy the very next day from the office of the registrar.

Company Business Profile

A business profile containing the details of the company can be obtained from the Company Registrar by making a request online and paying a small application fee. The PDF document is downloadable within an hour of the request and contains the following key details:

  1. Company name and registration number
  2. Previous names for the company, if any
  3. Incorporation date
  4. Main activities
  5. Paid-up capital
  6. Shareholders’ details
  7. Directors’ details
  8. Company Secretary details

Other items you might need after registration include:

  1. Share certificates for each of the shareholders
  2. Share register indicating shares allotted to each of the shareholders
  3. Company seal
  4. Company rubber stamp

Discover What Package Suits You Best

When you’re ready to proceed we invite you to follow the below 3 easy steps. We will then work with you to have the company incorporated within one working day or even few hours (Provided all KYC & incorporation documents requested are in order and the application of company name does not need any approval from the relevant authorities)

1. Choose your package

Choose the suitable package for your business or investment that suits your core compliance and advice needs.

2. Customize your package

If the below packages do not fit in to your needs, we are flexible enough to customize special packages to suit your needs.

3. Contact Us

Contact us via contact form or give us a line at 6873-2886 or 8862-4557 to clarify your requirements with us.

Incorporation
400 S$
S$315 of Registration fees to ACRA are already included the price
Included

    1. S$315 ACRA fees: Name application ($15) and Company registration ($300)
    2. Checking  the company name’s availability and reserving it.
    3. Preparing all company registration forms and documents
    4. Standard company’s constitution
    5. Filing with ACRA

Excluded

    1. Company secretarial service for 1 Year
    2. Opening a corporate bank account
Most Popular
Incorporation + Secretary
500 S$
S$315 of Registration fees to ACRA are already included the price

Incorporation

Included

  1. S$315 ACRA fees: Name application ($15) and Company registration ($300)
  2. Checking  the company name’s availability and reserving it.
  3. Preparing all company registration forms and documents
  4. Standard company constitution
  5. Filing with ACRA
  6. Preparing share certificate and registers
  7. Minutes of first board meeting
  8. Opening a corporate bank account

Company secretarial services for 1 Year

Included

  1. Company secretary routine annual filing and AGM preparation
  2. S$60 annual return filing fee to ACRA

Excluded

  1. Non-routine ACRA filing fee other than S$60 annual return filing fee
  2. Non-routine resolutions (For example, change in officers, registered address,business activity, company name, share allotment, share transfer)
Incorporation + Secretary + Xero Accounting
1200 S$
Good for a new start-up to start your 1st Year!

Incorporation

Included

  1. S$315 ACRA fees: Name application ($15) and Company registration ($300)
  2. Checking  the company name’s availability and reserving it.
  3. Preparing all company registration forms and documents
  4. Standard company constitution
  5. Filing with ACRA
  6. Preparing share certificate and registers
  7. Minutes of first board meeting
  8. Opening a corporate bank account

Company secretarial services for 1 Year

Included

  1. Unlimited number of resolutions (For example, change in officers, registered address,business activity, company name, share allotment, share transfer)
  2. Company secretary routine annual filing and AGM preparation
  3. S$60 annual return filing fee to ACRA

Excluded

  1. Non-routine ACRA filing fee other than S$60 annual return filing fee

Accounting Services for 1 Year

Included

  1. Not more than 10 bank transactions per month
  2. Tax: Filing of Estimated Chargeable Income (“ECI”)
  3. Tax: Form C-S

Excluded

  1. Compilation of unaudited report
  2. Xero’s subscription fee per month
  3. Staff expenses claims to enter to Xero

Additional things you may need

Company Registered Address (S$240 per year)

Notifications when you receive mail, scanning and forwarding of messages

Company Stamp (S$25)

Self-inking company stamp (Self collection @ our office)

Start running your business the right way?

Our team of experts work together to provide cloud based accounting solutions that will empower your business.

Frequently Asked Questions:

We are a professional firm approved by the Accounting and Corporate Regulatory Authority of Singapore to act on behalf of our clients with their secretarial lodgment and company registration needs.

After incorporation, your operations can be easily streamlined because we offer detailed accounting, and financial management services for businesses. Working with us will allow you to focus on the most important aspect of your business; growing it.

And, we are able to advise you on relevant required business licenses, compliances & regulations; and even referral of business resources & capabilities to our affiliated business partners.

Yes, foreigners can incorporate a company in Singapore. To facilitate the process, new businesses are required to meet the following requirements:

  1. A resident director in Singapore must be appointed.
  2. Appoint someone who is a real person and has a primary residence or principal in Singapore.
  3. Must have a registered Singapore Office.

To incorporate a company in Singapore, the local director must be a Singapore resident, possess an employment pass, Dependent’s pass or an Entrepass.

At UpVue, we request specific documentation and once received we may incorporate your company  within a working day if required (on condition that all requirements are met, all information and documents are provided and no delay in signing and returning of forms and documents and no delay in ACRA’s approval on company name application and reservation).

Yes, here at UpVue we help you stay on top of all compliance requirements including the completion of documents that must be submitted for government purposes.

Yes, you can hire international employees with valid work permits.

In Singapore, the entrepreneur can register the business as a sole proprietorship, private limited company, or partnership. Each business structure will offer its own set of features, pros and cons for the business owner.

Whats-app url