The average incorporation period for setting up a company in Singapore is approximately three days and the requirements are minimal which is why many foreign investors are attracted by the business opportunities the city-state offers. Holding companies are usually incorporated as private limited companies or subsidiaries. However, the legal services of a Singapore law firm must be requested when opening any type of business in the city.
Foreign individuals or companies wanting to establish a holding company in Singapore must know there are few requirements to be fulfilled. A Singapore holding company must have at least one shareholder and no more than 50. The shareholder can be a foreign company, as 100% foreign ownership is permitted in Singapore. At least one the directors of the holding company must be a resident or must have a Singapore employment pass. The Singapore holding company must also have a resident secretary that will be nominated within six months from registration. The minimum share capital for company registration in Singapore is 1S$ and it can be increased any time after the incorporation. The holding company in Singapore must also have a registered office that has been approved by the Urban Redevelopment Authority.
The first step when applying for the incorporation of a holding company in Singapore is the business name reservation. After the name has been approved it will have 60-day validity. Together with the approved business name the following documents must be submitted with ACRA (Accounting and Corporate Regulatory Authority):
Once the registration procedure is complete, the Companies Register will notify the owners about the successful incorporation and will also provide them with the company registration number. A holding company may begin its business operations in Singapore once it has obtained the registration number, opened the corporate bank account and obtained the Unique Entity Number (UEN).
For detailed information about setting up a company you can contact our lawyers in Singapore.
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