Singapore provides appealing incentives and exemptions for entities planning to establish their companies in the country. This is the primary basis why many multinational entrepreneurs pick out Singapore as their company’s base of operations.

A number of companies operating in Singapore are registered as private limited companies. According to Singapore business rules, any person – whether a foreigner or a citizen – who is of legal age (more than 18 years old) can register a private limited company in the country.

Singapore, as with other jurisdictions, has a few requirements if you desire to register a private limited company in the country.

The following are the primary pointers specifically drawn up for multinational entrepreneurs planning to establish a private limited company in Singapore. The pointers discuss the primary requirements, the process, and some things to pay attention to when registering a private limited company based in Singapore.

1. For a multinational company that plans to register its operations in Singapore, they must hire a Singapore-based professional firm to process the registration of their private limited company. The Singapore government discourages foreign business people to self-register their businesses.

2. It is a requisite that at least 1 individual will be listed as a resident director representing the company being registered in Singapore. In this context, the word resident describes an individual who is either a natural-born Singapore citizen or a foreign national granted a work permit (for instance, EntrePass, Employment or Dependent Pass) and qualifies as an immigrant.

3. A business enterprise being registered as a private limited company is obligated by Singapore regulations to have at least one and at a maximum 50 shareholders.

4. The business enterprise being registered as a private limited company must have an actual address in Singapore – whether this is located in a commercial or residential area.

5. After the registration of a private limited company has been granted, the company can now open a corporate bank account in any banking institutions in Singapore. This will require the company owners and principals to be in Singapore. Bank regulations necessitate the company owners‘ physical presence for this particular process.

6. Depending on the business nature of the private limited company, the governing agency of Singapore may necessitate it to also apply for a business license upon incorporation.

After you’ve fulfilled all requirements, all will be ready for a smooth-sailing business operation in Singapore.

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