9 Best Incorporation Services In SG: Women In Business 

However, many Singaporeans still choose to engage incorporation services because:

• Compliance: Service providers ensure your Constitution (the “rulebook” of your company) is professionally drafted.
• Convenience: They handle the administrative burden, including the appointment of a Company Secretary and setting up the statutory registers.
• Foreign Partners: If you have foreign directors or shareholders who do not have a Singpass, you must engage a registered filing agent to submit the application on their behalf.

To successfully incorporate a Private Limited (Pte Ltd) company, ACRA requires you to have:

• At least one Shareholder: Can be an individual or a corporation, and can be 100% local or foreign.
• At least one Local Director: Must be “ordinarily resident” in Singapore (Singapore Citizen, PR, or an EP holder with a Letter of Consent).
• A Company Secretary: Must be a natural person resident in Singapore and appointed within 6 months of incorporation.
• An Auditor: Unless the company is exempted (most “small companies” are).

Yes, under the Home Office Scheme. Both HDB and private residential properties can be used as a business address, provided you seek approval from the Housing & Development Board (HDB) or the Urban Redevelopment Authority (URA) respectively.

Keep in mind that:

• The business must not cause any nuisance (noise, smoke, or heavy traffic) to neighbors.
• You cannot display any physical advertisements or signs outside the home.
• Many incorporation services offer “Registered Address” packages if you prefer to keep your residential address private.

Technically, yes. The minimum paid-up capital for a Singapore company is SGD 1. However, there are practical reasons to consider a higher amount:

• Credibility: Suppliers, banks, and clients often view a company with higher paid-up capital as more stable.
• Work Passes: If you intend to sponsor an Employment Pass (EP) in the future, a higher capital amount (e.g., SGD 50,000 or more) is often expected by authorities.
• Banking: Some banks may require a certain initial deposit to open a corporate account.

A Company Secretary is not an administrative assistant or a typist; they are a compliance officer. Their primary role is to ensure the company follows the Companies Act.

Key duties include:

• Maintaining the company’s statutory registers (Register of Members, Directors, etc.).
• Organizing and documenting the Annual General Meeting (AGM).
• Filing the Annual Returns with ACRA.
• Advising directors on their legal obligations and deadlines.

If you have all your documents ready, the actual registration on BizFile+ is very fast.

• Name Reservation: Approval for the company name is usually instant but can take up to 14 days if it requires manual review by a government agency (e.g., if it contains words like “school,” “legal,” or “finance”).
• Incorporation: Once the name is approved, the company can be incorporated within 15 to 30 minutes.
• Total Timeline: Including the time to sign documents and perform “Know Your Customer” (KYC) checks, most service providers finish the process within 1 to 3 business days.

The costs are generally split into two categories:

• Government Fees: ACRA charges SGD 15 for the name application and SGD 300 for the registration fee.
• Service Provider Fees: These vary depending on the package. A basic package might just cover the filing, while premium packages often include the first year of Company Secretary services, a registered address, and an “Official Business Profile.”

Most incorporation services recommend a Private Limited structure because:

• Limited Liability: Your personal assets are protected if the company goes into debt. In a Sole Proprietorship, you and the business are one legal entity, meaning you are personally liable for all losses.
• Tax Benefits: Pte Ltd companies enjoy significant tax exemptions for the first 3 years and a flat corporate tax rate of 17%.
• Scalability: It is easier to raise capital, add partners, or sell the business later.

While not a legal requirement for incorporation itself, you must have a corporate bank account to:

• Deposit the paid-up capital you declared during registration.
• Keep business and personal finances separate (crucial for tax and audit purposes).
• Receive payments and pay suppliers professionally.
  Most service providers assist with bank referrals as part of their incorporation package.

Incorporation is just the first step. To stay in good standing with ACRA and IRAS, you must:

1. Hold an AGM: Every year, shareholders must meet to review the financial statements.
2. File Annual Returns (ACRA): Within 7 months of your financial year-end.
3. File Tax Returns (IRAS): Submit your Estimated Chargeable Income (ECI) and Form C/C-S.
4. Maintain Records: Keep accounting records and supporting documents for at least 5 years.