start a construction company in singapore
TRANSCRIPT
Start a Construction Company in Singapore
A presentation brought to you by OpenCompanySingapore.com
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The Construction Industry in Singapore
• The construction industry is one of the most prolific industries in Singapore and it has attracted many foreign investors to the city-state during the last years.
• According to statistics, company incorporation in the construction industry rose a lot during the last years.
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How to Open a Construction Company in Singapore
• The first step to start a construction business in Singapore is to register the company as a limited liability company, an unlimited company or a partnership.
• However, the most employed type of construction company is the limited company due to the tax exemptions in Singapore.
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Singapore Construction Company Registration Requirements >>
• The requirements for the registration of a construction company in Singapore are:
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the Articles of Association must state that the company’s principal activity is providing professional engineering services;
the minimum share capital for the Singapore company is 500,000 S$.
>>Singapore Construction Company Registration Requirements
• The other requirements for opening a Singapore construction company are:
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the majority of the company’s directors must be professional engineers;
the company must have an insurance against professional liability.
The Professional Engineering License in Singapore
• In order to register a construction company, the majority of the Singapore company’s management must have a professional engineering services license.
• Our Singapore representatives can provide you with more information about this type of permit.
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Documents for the Professional License in Singapore >>
• In order to obtain the professional license one must submit the following documents with the Professional Engineers Board of Singapore:
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a certified copy of the company’s Articles of Association;
a list with the company’s members and directors;
a certified copy after the professional liability insurance policy;
the certified copy after the company’s Certificate of Incorporation.
>>Documents for the Professional License in Singapore
• The other documents needed are:
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a certified copy of the resolution appointing the company’s management board;
copies after the documents registered by the Accounting and Corporate Regulatory Authority (ACRA);
a certified copy of the latest financial statement filed with ACRA;
a declaration signed by all directors that all the conditions for application have been met.
Other Permits for Construction Companies in Singapore >>
• In order to start operating, a Singapore construction company is required to obtain other licenses.
• Among these are:
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the permit for road occupation management that must be obtained by professional engineers;
a license from the National Environment Agency for the occupying and operating in scheduled premises.
>> Other Permits for Construction Companies in Singapore
• The other licenses needed for opening a Singapore construction company are:
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the telecommunication writing contractor’s license with the Infocomm Development Authority;
an advertisement license;
a license to discharge trade waste, if any.
Company Registration Services in Singapore
• If you want to hire personnel for your construction company you can ask company incorporation consultants for details about employment regulations.
• You can also contact our company formation agents in Singapore for assistance with the company registration process.
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Thank you for your attention!
For more information, please contact us at:
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www.opencompanysingapore.com12