Incorporating a Company in Singapore

Your business description

Centralised crypto exchange with decentralised settlement. Looking to issue our own utility token and apply for Payment Service licence.

What are the types of companies in Singapore?


The three main types of companies in Singapore are:

(a) A company limited by shares;
(b) A company limited by guarantee;
(c) An unlimited company.

What is the minimum share capital for a private company?


The minimum amount of paid-up share capital for a private company is S$1.00.

There is no maximum limit to the amount of share capital for a private company.

Currently, companies with paid-up share capital of S$500,000 and above will automatically become members of the Singapore Business Federation (SBF).

Is it possible for foreigners to own shares in a company in Singapore? Can the shares in a Singapore company be owned by a foreign individual or foreign company?


Yes.

There are no restrictions on foreign ownership of shares in a Singapore private limited company.

What are the requirements for setting up a private limited company in Singapore?


If you wish to set up a private limited company in Singapore, the following requirements are mandatory:

(a) At least one (1) shareholder;
(b) At least one (1) director who is ordinarily resident in Singapore (at least 18 years old and of legal capacity);
(c) Company constitution to be submitted during incorporation;
(d) Company must have a valid registered address in Singapore;
(e) Company must employ a qualified company secretary within six (6) months of incorporation and the secretary must be ordinarily resident in Singapore.

What is the procedure of setting up a business in Singapore?


Firstly, you will need to apply for a company name with the Accounting and Corporate Regulatory Authority (ACRA) of Singapore. The online filing portal BizFile can be accessed here. 

Secondly, once the company name is approved, you will have to submit an application to register your business. The process may take some time especially if the application needs to be referred to another
agency for approval or review.