Rated number one in the world by World Bank for ease of doing business, Singapore is a major centre for business and trade in the Asian region. Singapore has been ranked as the third most globalized economy among 60 of the world’s largest economies in the Ernst and Young 2011 Globalization Index. It has a convenient official business language of English and GDP per capita of $59,900, meaning it is an excellent jurisdiction to set up a company. Licensehub.in can assist you in all aspects of setting up a business in Singapore.
Most Singapore companies are registered as Private Limited Liability Companies (commonly known as Private Limited Companies).
Setting up a Private Limited Liability Company in Singapore – what are the main points?
- There are four types of Private Limited Companies in Singapore
- Private Limited Company – Not more than 50 corporate or individual shareholders
- Exempt Private Company (EPC) – Not more than 20 individual shareholders
- Public Company Limited by Shares – It is locally incorporated where the number of shareholders can be more than 50
- Public Company Limited by Guarantee – It is one that carries out non-profit making activities that have some basis of national or public interest
- A private limited company in Singapore is a separate legal entity and shareholders are not liable for the company’s debts beyond the amount of share capital they have contributed (hence the term limited liability)
- Singapore law does not allow foreign individuals or entities to self-register a company
- A registered office in Singapore is required
- The minimum number of directors is one, however at least one director must be resident in Singapore
- The minimum number of shareholders is one
- “Private Limited” or “Pte. Ltd.” must be included in the name of every company
Let Licensehub.in provide you with an efficient and professional service, for setting up your company in Singapore.