Singapore company registration process and account opening steps?

Updated on Financial 2024-03-15
8 answers
  1. Anonymous users2024-02-06

    1. Prepare the following materials.

    1. Company name: You can provide 3-4 company names, Singapore companies are all capitalized English names, and now they cannot be registered with names in other languages for the time being, and the company name should end with it;

    2. Registered capital: You can increase the registered capital independently when the Singapore company operates to the later stage, and will not charge stamp duty, the registered capital is usually from 1 Singapore dollar, and it depends on your own ideas, and there is no strict requirement for how long the capital should be paid in full;

    3. Business scope: In Singapore, only the company's articles of association will restrict the company's business scope, and all other reasonable businesses can be operated, but when registering a company, only one or two companies can choose the business to operate;

    4. Company address: The registered address of the company established in Singapore can only be a local address in Singapore, and other addresses cannot be used for registration for the time being, if you need to change the registered address, you can rent an office in Singapore, and the address of the office is the registered address.

    2. Check whether the company name is available, provide the following information and documents, and fill in the registration**.

    1. Submit the company name to ACRA, which will generally be approved within one working day;

    2. ACRA approves the name of the company;

    3. Submit the registration to ACRA, and the approval time is about one working day;

    4. ACRA was formally approved and established;

    5. Print the company's registration paper, articles of association, and engrave the company's relevant seals.

    1. Letter of appointment of the first director;

    2. Notice of appointment of the first director and secretary;

    3. Notice of consent to be appointed as a director;

    4. Notification of registered address;

    5. Other relevant documents.

    4. Submit the Articles of Association of the Singapore Company Incorporation to the Singapore ACRA.

    ACRA will review the documents and if there are no problems, an electronic copy of the Certificate of Incorporation will be issued the next day.

    5. ACRA issues a certificate of incorporation.

    After receiving the Certificate of Incorporation, the following can be done:

    1. Printing of the memorandum and by-laws;

    2. Make a metal seal with the company's name engraved on it and use it as the company's steel seal;

    3. Make an offset print engraved with the company's name;

    4. Print a record book, which is used to record the information and documents such as directors and secretaries, company member registration and meeting minutes;

    5. Convene a board meeting, mainly to deal with various matters of company registration, such as renting an office, opening an account, etc.

  2. Anonymous users2024-02-05

    How do I open a Singapore bank account?

    For example, DBS Bank of Singapore, UOB and OCBC are the three major local banks, and there will be many customers who do investment and wealth management or international ** who will choose to open an account in a bank in Singapore at that time, and the local banking services are more comprehensive and convenient, and if you need further financial services, such as discounts, loans, etc., it will be easier to handle.

    Singapore bank account opening conditions.

    1. Real or investment background, with domestic companies providing domestic company licenses and turnover in recent months.

    2. The information of the offshore company (certificate of registration, structure certificate, articles of association, etc.), incumbency (within one year), Hong Kong company, archipelago company, etc. are all acceptable.

    3. ID documents: passport copies of all directors, shareholders and account signatories, domestic ID cards.

    4. Business proof: * purchase and sale contract, bill of lading, form F bill, payment receipt, etc. within the past three months, if the newly established company has not carried out business, the invoices or business contract of the affiliated company can be provided to the bank as reference materials.

    5. Fill in the bank questionnaire.

  3. Anonymous users2024-02-04

    Application Process. You need to use SingPass to log in to the Accounting and Commercial Regulatory Authority (ACRA) to register, and if you have not registered with SingPass, you can refer to Fortune Connect |Usefulness of SingPass Learn more.

    01Prepare materials.

    For directors: "Letter of Appointment of the First Director" and "Notice of Consent to Serve as a Director".

    Companies are required to appoint at least one local director (Singapore Citizen, Permanent Resident, Employment Pass or Dependent's Pass holder). You can appoint as many local and foreign directors as you want, and you need to ensure that they are at least 18 years old and have no bankruptcy or criminal record. It is important to note that the directors do not have to be shareholders.

    About Shareholders: Personal Data.

    At least one shareholder is required, and 100% of the time it can be a foreigner. Private **** can have from 1 to 50 shareholders and can be local or foreign individuals or entities.

    About the Secretary: Notice of Appointment of First Director and Secretary

    A qualified company secretary must be hired within 6 months of the company's incorporation. The secretary must be a natural person residing in Singapore and cannot be the sole director or shareholder of the company.

    The company must register a local business address in Singapore, which can be residential or commercial. If you want to use a residential property as your business address, you can apply to the Housing and Urban-Rural Development Authority (HDB) or Urban Redevelopment Authority (URA) to run a small company using HDB flats and condominiums.

    About the Articles of Association: Articles of Association

    Must include certain basic matters such as the name of the company, the registered address of the company must be in Singapore, the purpose of the company, the limited liability of the members and the share capital that the company intends to register and the number and value of the shares to be subdivided.

    02 Apply for the name of the company.

    Register your company name with the Accounting and Commercial Regulatory Authority (ACRA) of Singapore. After confirming that the name is available, you need to fill in the company's business scope. Unlike domestic companies, which can have many business scopes, Singapore companies only have two business areas, which are primary and secondary, i.e., primary and secondary.

    After the company name is successfully registered, the name will be reserved for 120 days, and you need to complete the company registration within 120 days, otherwise you will have to re-register the company name.

  4. Anonymous users2024-02-03

    Singapore company registration process.

    1. Provide company name: provide the name of the Singapore company for search;

    2. Submission of information: After determining the company's shareholder directors, submit the information of the shareholders and directors and other registration materials;

    3. Preparation and signing of documents: the directors themselves sign the documents;

    4. Submission of documents: Submit documents to the Registry;

    5. Collect documents.

  5. Anonymous users2024-02-02

    Singapore company registration process.

    1. Provide company name: provide the name of the Singapore company for search;

    2. Submission of information: After determining the company's shareholder directors, submit the information of the shareholders and directors and other registration materials;

    3. Preparation and signing of documents: the directors themselves sign the documents;

    4. Submission of documents: Submit documents to the Registry;

    5. Collect documents.

  6. Anonymous users2024-02-01

    Located in the heart of Asia, this bustling world-class metropolis has long been recognized as a global business hub through its operational excellence, with well-developed infrastructure, political stability, open business policies, highly skilled workforce, English as the main working language, and respect for intellectual property. Many multinationals have chosen Singapore to set up their bases, following the 187,700 SMEs. Entrepreneurs around the world see Singapore as an ideal business city, and many of them use Singapore as a springboard to other emerging markets in Asia.

    1.Singapore has a sound rule of law, a good law and order and business environment, and political and economic stability.

    2.Singapore is a duty-free port and has a lot of duty-free policies.

    2.With a very complete banking system, it is very convenient to open accounts in various banks in the world in Singapore.

    4.Singapore is one of the 10 countries in the Association of Southeast Asian Nations (ASEAN), and has friendly exchanges with several other countries and has a good international policy.

    There are two types of Singapore companies:

    Singapore ordinary **** (suitable for foreign trade industry, technology development industry customers to choose).

    Singapore Public Guarantee Companies (also known as not-for-profit companies) are not suitable for the foreign trade industry.

    Ordinary **** registration:

    1.Front and back of ID card + front and back of witness ID card. (If it is multi-**eastern, then you need to provide multiple front and back of the ID card) only need to be ** or a scanned copy.

    The company is also required to appoint at least one local director (Singapore Citizen, Permanent Resident, Employment Pass or Dependent's Pass holder).

    2.The registered name of the company, ending with the English name, is preferably two or three registered names to spare.

    3.Shareholding structure chart. That is, the proportion of shares, if it is one person, then there is no need to provide an additional shareholding, then it is 100% of the shares, if it is two or more people, it is necessary to provide another percentage of shares.

    4.The registered capital, generally defaulting to S$10,000, with a maximum of no upper limit and a minimum of S$1, does not need to be paid.

    5.To determine the scope of business, a Singapore company can choose up to 2 business items.

    6.Registered address in Singapore.

    7.A qualified company secretary must be engaged within 6 months of the company's incorporation, who must be a natural person residing in Singapore and cannot be the sole director or shareholder of the company.

    After the above information is prepared, go to fill in the registration application** - then check the name - sign the relevant signature documents - prepay the registration fee - submit to Singapore ** registration - and then, it will take about 7-10 working days to complete the registration.

  7. Anonymous users2024-01-31

    Necessary materials for the preparation of account opening materials:1.Registration documents.

    2.Articles of Association.

    3.Passports and ID cards of all directors and shareholders.

    4.Offshore companies need to provide proof of incumbency of directors for nearly 6 months.

    5.Hong Kong companies are required to provide an annual return and a business registration certificate.

    6.Account Activation.

    According to the company's business situation, it is provided:7.Full set of business contracts and invoices.

    8.Bank statements of the company for the last 3 months.

    9.Financial statement.

    10.Background or curriculum vitae of the director or shareholder.

    The time required to open a bank account in Singapore is due to a certain degree of risk control when the Singapore company is registered, which makes the requirements of the Singapore bank for the application company relatively relaxed, and the review time is correspondingly shorter.

  8. Anonymous users2024-01-30

    1. Name verification: Go to the Industrial and Commercial Bureau to get an "Application Form for Pre-approval of Enterprise (Trade Name) Name", fill in the name of the company you are going to take, and search whether there is a duplicate name on the Internet (intranet of the Industrial and Commercial Bureau) by the Industrial and Commercial Bureau. The handling fee for this step is 30 RMB.

    30 yuan can help you search for 5 names, many names are repeated, so you don't have to try the common names, so as not to spend money in vain. After the name verification is passed, the name pre-approval notice will be printed.

    2. Renting: Go to a special office building to rent an office, if you have your own factory or office, you can also do it, and some places do not allow you to work in residential buildings. After renting a house, sign a rental contract and ask the landlord to provide a copy of the title deed.

    For example, if your annual rent is 10,000 yuan, then you need to buy 10 yuan of stamp duty, which will be pasted on the first page of the rent contract. (After March 1, 2014, the applicant can register by submitting the certificate of legal use of the premises.) )

    4. Go to the industrial and commercial bureau to apply for a business license on the spot, and bring the following information!

    The original ID card of the legal person of all shareholders;

    Name Pre-Approval Notice (the first step of the company registration process and fees is to print the name pre-approval notice).

    5. With the business license legal person ID card to the professional engraving shop to engrave the official seal and financial seal, the regular chapter is to the public security bureau for the record with the engraved seal card; (1-2 business days).

    6. With the business license, legal person ID card, and official seal, go to the Market Supervision and Administration Bureau to apply for the enterprise organization certificate; (1 working day).

    7. Go to the national or local taxation branch of each (you) district to apply for the tax registration certificate with the business license and organization ** certificate, legal person ID card and official seal; (1 working day).

    8. Go to the bank to open a company capital verification account: all shareholders bring their own part of the money to the bank, bring the articles of association, the name verification notice issued by the industrial and commercial bureau, the private seal of the legal representative, the ID card, the money used for capital verification, and the blank inquiry letter**, go to the bank to open a company account, and you have to tell the bank to open a capital verification account. After opening the company's account, each party will deposit the corresponding money into the company's account according to its own capital contribution.

    The bank will issue a payment slip to each ** and stamp the bank's seal on the inquiry letter.

    9. Go to the bank to open the capital verification account with the company's full set of information to convert the capital verification account into a basic account (if the paid-in capital of the capital verification account is 0, you can also open a basic account at the bank).

    Article 57 of the Civil Code of the People's Republic of China provides that a legal person is an organization that has the capacity for civil rights and civil conduct, and independently enjoys civil rights and undertakes obligations in accordance with the law.

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