Singapore Company Incorporation Services Package

* For Singapore company formation with corporate shareholder (e.g. subsidiary), an additional charge of S$100 (W/GST $109) per corporate shareholder will apply. Kindly be reminded that for company with corporate shareholder, you will not be able to enjoy full tax exemption benefit and you will be required to prepare and file XBRL report for the Company unless exempted. For detailed requirement, you can refer to ACRA Compliance Requirement.

For Singapore company setup with directors, shareholders, beneficial owners, registrable controllers and nominator of nominee director are of more than 3 person or entity, an extra charge of $100 (W/GST $109) per person or entity will apply. Kindly be reminded that there is no services available for setting up of a Company on a specific date. In the event of such request is being received, we will try our best to fulfill it on a goodwill basis. However, we shall not be held responsible for Any Loss or Damages incurred as a result of the setting up of the Company with a different incorporation date.

The directors and other company officers (secretary, auditors, CEO, Managing Director) may report an alternate address with the Registrar. The alternate address must be located in the same jurisdiction as the individual’s residential address. Therefore if the officer is a local resident, his alternate address cannot be a foreign address. The alternate address cannot be a P.O. Box address and must be an address where the person can be contacted. An extra charge of $150 (W/GST $163.50) per officer per alternate address will apply.

** Renewable at S$300 (W/GST $327) per annum from 2nd year onwards for registered office address service.

*** For companies with the following board composition:
– one foreign director and our nominee director
– one local director
we can assist with the first bank account opening including preparation of board resolution and signing of bank account opening forms in our office, free of charge, especially with OCBC Bank.

For companies with the following board composition:
– two or more foreign directors and our nominee director
– more than two directors without engaging our nominee director services

we can assist with the first bank account opening including preparation of board resolution free of charge especially with OCBC bank and signing of bank account opening form, if required, at a fee from $100 (W/GST $108) depending on the bank, after the board resolution has been signed and verified, authorising the nominee director or secretary to sign the documents.

Most banks in Singapore will require the physical presence by at least one director hence at least one director (excluding our nominee director) will need to be present for the account opening process.

For clients who are arranging for the first bank account opening with their own preferred bank without requiring any of our assistance, please be reminded to let us have a copy of the signed banks standard form containing the resolution to open the account, for our records.

For clients who are arranging for the first bank account opening at their own bank without physical presence, please check if it is permissible by the bank. If you require our nominee director or secretary to provide outgoing services to sign any documents at any bank branch, our fees wil be from $250 (W/GST $272.50) per visit.

For bank account opening process, we can only provide documents certification services including copy of passport/NRIC only if the bearers are present in our office and the original documents are produced. Extra charges will apply. For companies with corporate shareholders, the banks will require the registration documents of the corporate shareholders and they must be notarised by a notary public, practising accountant or lawyer who are registered and searchable via their professional website. If we are required to provide further certification on these documents, we will require the local director (other than those using our nominee director services) to also certify on them and our extra charges will apply.

**** A company must have at least one Singapore citizen or Singapore permanent resident (PR) that resides in Singapore to act as a director of the company. If you need a nominee local director to register company in Singapore, a charge for S$2,000 (W/GST $2,180) per annum is applied plus a refundable security deposit of S$2,000.

***** Includes maximum of 2 appeals within 3 months from the date of rejection as per MOMs guideline. The application for the Singapore Employment Pass can only be submitted after the incorporation of a company. You will no longer need for the nominee director services once your employment pass is approved.

@ An additional charge of S$100 (W/GST $109) is applicable for converting a sole proprietorship to a private limited company. (Three working days are normally required by ACRA to complete the conversion). Click Sole Proprietor vs Company for more details.

@@ FREE copies of e-notice of Incorporation. There will be an additional charge of S$150 (W/GST $163.50) should you require a digital copy of Certificate of Incorporation from ACRA.

@@@ Kindly inform us should you intend to register for GST after company incorporation. Click Goods and Services Tax (GST) for more information.

@@@@ $3,000 bankers guarantee is require upon approval of Entrepass. For more information, please refer to Singapore Entrepass. Singapore Company Setup can process after the Entrepass is approved.

@@@@@ It is our Company’s policy that our nominee director will not be involved in your business operation therefore if your business is required to apply for a licence, our nominee director will have to step down when you are ready to proceed with the licence application. Most licence application will need to be signed and submitted by a local key executive personal/director therefore you will need to have such person to act for your company and apply for the licence. In certain cases such as if you are in the food and beverage business you will be required to apply for business licence(s) first to support your work pass application. Hence, our nominee director will only act for the incorporation in order for you to employ your own local director to assist you with the licence and work pass application. Most businesses do not require licenses or permits to operate, there are handfuls that do, as they are regulated by the approving authorities. Some of these are private schools, travel agencies, liquor distributors, moneylenders, banks, childcare centres. For more information, please see Business License Application.

• Agents contact information (name, telephone, email, etc.)
• Agents Copy of passport, proof of foreign residential address and national identity card, if any
• Agents copy of the registration documents containing the Certificate of Incorporation, and Certificate of Incumbency or equivalent document (Click Certificate of Incumbency to download the sample), if any
• Copy of the Authorization letter that the customer has appointed the agent to act on his behalf

For foreigner who engaged our nominee director services, kindly provide the extra information of the foreign directors/nominee directors, nominators of nominee directors, shareholders, beneficial owners/controllers as follows for Singapore company formation:

• Personal documents i.e bank reference letter (see Sample bank reference letter) / recent personal bank statement issued within the last 2 months / Resume / CV
• Existing business documents i.e company web site, brochure, certificate of incorporation, business profile, company bank statement, latest financial statement
• For those under employment, the information about their current occupation i.e. confirmation letter / testimonial from current employer / employment contract and latest notice of personal income tax assessment
• Purpose of setting up the Company in Singapore (e.g. running of business / investment holding / any other purposes)
• Estimated annual turnover of the Singapore Company to be generated from Singapore and Overseas.
• Will the business operation be based in Singapore?
• Do you need a Singapore bank account? Please provide the reason.
• Will you be hiring any local staff in Singapore?

# Every person who, being an undischarged bankrupt (whether he was adjudged bankrupt by a Singapore court or a foreign court having jurisdiction in bankruptcy), shall not act as a director of, or directly or indirectly takes part in or be concerned in the management of, any corporation, except with the leave of the Court or the written permission of the Official Assignee. If found guilty, the person shall be liable on conviction to a fine not exceeding S$10,000 or to imprisonment for a term not exceeding two years or to both.

## Your Company is automatically register as Statutory Member of SBF if your authorised share capital is above $500,000. As a member of SBF, your company would required under the SBF Act to pay subscription fees ranging from $300 to $800 per year, in accordance to your company’s paid up/authorised share capital.

### Kindly remind that we will not be able to act as your Company Nominee Director should you are citizen or in connection with or born in the countries which is under the US Sanctions list. Kindly view Sanctions Programs and Country Information for the list. Should we discover you are fall under the US Sanctions list and not disclosed to us, your deposit will be forfeited and the Company will be closed down upon discovery.

#### Politically exposed person means an individual who is or has been entrusted with any prominent public function in Singapore or a foreign country, or an individual who is or has been entrusted with any prominent public function by an international organisation, and includes an immediate family member or close associate of such an individual.

##### A nominee director is a director who is accustomed or under an obligation whether formal or informal to act in accordance with the directions, instructions or wishes of any other person), if any. A nominator of nominee director is a person who appoint the nominee director. A Beneficial Owner/Controller is a person who has “significant interest” (interest in more than 25% of the shares or shares with more than 25% of total voting power in the company) and/or “significant control” (holds the right to appoint or remove directors who hold a majority of the voting rights at directors’ meetings; or holds more than 25% of the rights to vote on matters that are to be decided upon by a vote of the members of the company; or exercises or has the right to exercise significant influence or control over the company) on a company

###### Your company would be required to file its financial statements in XBRL format during the filing of annual return, if your company is (1) an exempt private company (without corporate shareholder) but is insolvent (total assets – total liabilities = negative value) or (2) a non exempt private company (with corporate shareholder) and has business activities (not dormant) for the financial year.