Singapore is a popular destination for incorporation as of late and there are a number of ways you can not be assisted by an Australian notary public with this process, when forming a company structure in Singapore. Below we’ve provided an overview of the different types of company structures which you might be looking to form with the assistance. We have limited the list of accessible company constructions to those which foreigners may participate in.
The business is treated as an entity independent from the members that make up the company and as a “individual” in law.
One or more individuals (at least one Manager must be a Singaporean, EntrePass Holder or Singapore Permanent Resident) may incorporate a company . An organization may be limited by shares, unlimited or limited by guarantee. For companies limited by shares, stockholders may be individuals or corporate entities, and need not be of local residency.
In Singapore, the principal kinds of businesses are:
Private Companies that are local
Companies limited by shares regulated by the Singapore Companies Act, and pursuant to. The investors cannot be held liable for the debts of Limited Companies, with their liability limited to the amount of shares which have been issued to them they have not completely paid for. The number of shareholders is limited to fifty or less.
A subtype of a private company, an exempt Private_Limited_Company has less than 20 members, none of them being corporate entities. Should the firms turnover exceed S$ 5million it will no more be deemed exempt. The status is not especially conferred, it is simply a standing by operation of law.
Gazetted Exempt Private Companies – Government-owned firms which have been declared Exempt Private Company by the Minister Gazette.
Public companies include :
Company Limited – A public company must register a prospectus with ACRA before making any public offer of shares and debentures.
Company Limited by Guarantee – Companies limited by guarantee are often formed for non-profit making function. This type of company is more commonly used for trade associations, non-profit bodies, clubs, professional and learned societies, some spiritual bodies and so on, rather than commercial endeavors.
Representative Office (Non- Trading, for market survey)
There is a Representative Office an interim entity from which foreign businesses that are keen on investigating the viability of doing business in Singapore can test the market before committing to any investment choices.