How to set up an offshore company in Singapore?
Incorporating an offshore company in Singapore is done online via the BizFile+ portal managed by the Accounting and Corporate Regulatory Authority (ACRA).
Since a SingPass ID is required to log into BizFile+, foreign companies may need to engage the services of a registered filing agent (e.g. a law firm, accounting firm) to incorporate the offshore company for them.
The following information is generally required to incorporate an offshore company in Singapore:
- Name of the proposed company
- Brief description of business activities
- Shareholders’ particulars
- Directors’ particulars
- Registered address of the company
- Company secretary’s particulars
- Company constitution
- Any other documentary requirements as may be required by the registered filing agent
It may also be useful to note the following requirements for incorporating an offshore company in Singapore:
- At least 1 of the offshore company directors must be ordinarily resident in Singapore.
- Directors must be at least 18 years old and must not have been an undischarged bankrupt or convicted of any offence involving fraud or dishonesty.
- The offshore company must have a registered office physically in Singapore where communications or notices may be addressed.
- The offshore company must appoint a Singapore resident to act as the company secretary within 6 months of incorporation.