set up a private limited liability company in singapore
TRANSCRIPT
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Set Up a Private Limited Liability
Company in Singapore
A presentation brought to you
by Lawyers-Singapore.com
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Private Limited Liability
Companies in Singapore
• The private limited liability companies
in Singapore are the most
commonly preferred type of
business by the small and medium local
entrepreneurs.
• The maximum number of members of a
private limited liability company in
Singapore cannot exceed fifty, liable only
to the extend of their owned shares.
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Shares of a Private Limited
Liability Company in Singapore
• The shares of a private limited liability
company in Singapore cannot be freely
transferable.
• The Memorandum of Association and the
Articles of Incorporation contain detailed
information regarding the way these sharescan be transferred.
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Share Capital of a Private
Limited Liability Company in
Singapore
• The activities of the private limited liability
company in Singapore are ruled by the
Company Act.
• No minimum authorized capital or share
capital is requested at registration.
• The minimum share capital has the
symbolic value of 1 Singapore dollar.
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Other Requirements for
Owning a Limited Liability
Company in Singapore
• A limited liability company must have at
least one director with Singapore residence.
• Also, the company’s Secretary must be a
natural person, resident in Singapore.
• It must also appoint an auditor if there are
more than 20 shareholders and the annual
turnover exceeds 5 millions Singapore
dollars.
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The Registered Office of
a Private Limited Liability
Company in Singapore
• The registered office of a private limited
liability company may be different from
the company’s business address.
• All the official notifications and all the
company’s notifications must be
delivered to the registered office.
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The Registration Procedure
in Singapore >>
• All the private limited liability
companies must be registered at the
Company Registrar based on the following
documents:
company name and registered address;
description of the company's activities;
memorandum of association and
articles of incorporation;
details regarding the directors, the
secretary and the shareholders.
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>> The Registration Procedure in Singapore
• The registration procedure in
Singapore doesn’t take longer than 2
days due to the efficient computerized
system.
• After registration, an email is sent to the
company with the registration number.
• If a hard copy is requested, a fee must be
paid before receiving it from the Company
Registrar’s office.
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The Company Registrar in
Singapore
• The Company Registrar in Singapore may
also issue the Company Business Profile
which contains:
the company name and registration number;
previous names for the company;
registration date;
principal area of business;
paid-up capital;
details regarding the shareholders, directors
and secretary and registered address.
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Other Requirements before
Starting Business Activities
in Singapore
• The notification of incorporation and
the business profile are necessary in
order to open a corporate bank
account.
• Before starting the business, the
company must receive licenses or
approval for its future actions from the
authorized government bodies.
• Also a registration for GST (Goods
and Service Taxes) is requested.
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Company Formation in Singapore
• Opening companies in Singapore is a
complex matter that usually requires the
advice of a company formation
specialist.
• Please contact our company formation
specialists in Singapore for more
information about the process of creating
private limited liability companies in this
country.
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Thank you for your
attention!
Please contact us for more information at:
+ 852 8191 3385
http://www.opencompanysingapore.com/
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