Step-by-Step guide: How to form a Singapore Private Limited Company - PowerPoint PPT Presentation

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Step-by-Step guide: How to form a Singapore Private Limited Company

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Before one can start a business in Singapore, registering Singapore company with Accounting and Corporate Regulatory Authority (ACRA) and abiding with Singapore Companies Act is mandatory. While one can choose different types of company incorporation, Singapore private limited company is the most common and the most preferred company incorporation type in Singapore. Being a specialist in Singapore company formation, we at Precursor follow an easy and step-by-step process to incorporate a Singapore private limited company. To help you in incorporating a private limited company in Singapore, below is a step-by-step guide that you can follow to incorporate Singapore private limited company with Precursor in the matter of a few hours. For more information read this link: – PowerPoint PPT presentation

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Title: Step-by-Step guide: How to form a Singapore Private Limited Company


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Step-by-Step guide How to form a Singapore
Private Limited Company
2
Before one can start a business in Singapore,
registering Singapore company with Accounting and
Corporate Regulatory Authority (ACRA) and abiding
with Singapore Companies Act is mandatory. While
one can choose different types of company
incorporation, Singapore private limited company
is the most common and the most preferred company
incorporation type in Singapore.
3
  • Being a specialist in Singapore company
    formation, we at Precursor follow an easy and
    step-by-step process to incorporate a Singapore
    private limited company.
  • To help you in incorporating a private limited
    company in Singapore, below is a step-by-step
    guide that you can follow to incorporate
    Singapore private limited company with Precursor
    in the matter of a few hours.

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Step 1- what is a Singapore private limited
company
  • There are different types of company
    incorporation in Singapore, thus it is essential
    for you to understand what is a Singapore private
    limited company and determine the type of
    Singapore company you would like to incorporate.

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  • A private limited company in Singapore is
    limited by shares and is a separate legal entity
    from its shareholders. It is recognized as a
    taxable entity in its own right. As a result,
    shareholders of a Singapore private limited
    company are not liable for its debts and losses
    beyond their amount of share capital.

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  • Private limited company incorporation in
    Singapore is the choice of many small and medium
    size business entities due to several benefits
    that it offers.
  • The shareholders are not held responsible for
    company debt that surpasses share capital
    contributed.
  • The companys shares belong to limited people,
    usually a few individuals or corporate entities
    and are not available to the public at large.

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  • Shares can easily be transferred
  • It has easier means to raise capital
  • It commands a better credit image than a sole
    proprietorship or a partnership firm and
    investors would usually show more interest in
    being the part of the company.
  • With this, there are several other benefits
    and tax exemptions that a Singapore private
    limited company can enjoy.

9
Step 2- Enquiring for Singapore private limited
registration
  • Once you are sure that setting up a Singapore
    private limited company is your choice, the
    second step that you must take is to contact an
    eligible incorporation company in Singapore and
    enquire about Singapore private limited company
    formation. 

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  • Choosing which incorporation company you
    would like to use for the process is a critical
    decision that must be taken with absolute care
    and consideration. a provider who possess these 7
    essential qualities of top company incorporation
    service providers in Singapore would be able to
    provide you with excellent services.
  • Having made all care and consideration,
    Precursor is definitely the incorporation company
    in Singapore you would choose. Enquiring about
    Singapore private limited company formation with
    Precursor is easy.

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Step 3- Reserving name for your Singapore private
limited company
  • Once enquired, one of the company
    incorporation experts from Precursor would
    usually get in touch within a short time, who
    would take you through the process in
    professional yet friendly manner. First thing
    that you will be asked to share is the name of
    Singapore private limited company that you are
    looking to incorporate. The company name must be
    approved by ACRA before the Singapore Company can
    be incorporated. ACRA will reject a proposed
    company name for the purpose of incorporation if
    it is identical to another existing company name
    undesirable or identical to names reserved by the
    Minister in its register.

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Step 4- Answering essential questions and
requesting quote
  • If the name of Singapore private limited
    company that you are looking to incorporate is
    approved by ACRA, company incorporation experts
    at Precursor would ask you certain questions that
    are essential in order to determine quote as well
    as required documentation.

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  • The questions you may be asking may include
    topics such as shareholders structure,
    nationalities of directors as well as checking if
    you need our services of Singapore nominee
    director.
  • Once all the questions are successfully
    answered, you can expect to receive a quote for
    forming Singapore private limited company at this
    point. In line with its promise of providing
    highest quality services, expert consultancy and
    unmatched customer support, often the price
    quoted by Precursor is absolutely reasonable and
    does not leave the need of reconsideration.

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Step 5- Filling up essential forms
  • At this point, the actual procedure of
    incorporation begins, requiring you to fill
    several forms that are required for Singapore
    private limited company registration.

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  • The forms you will be asked to fill are
  • PSI Form
  • Shareholders Form
  • Forms of Corporate Shareholdings
  • Any other forms that Precursor experts find
    required as per Singapore laws
  • While filling up these forms can be
    difficult, Precursor experts will help at every
    step, making it extremely simple and quick,
    thereby saving you from any hassles during the
    process.

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Step 6- Provide required documents
  • As per ACRA policy for forming a private
    limited company in Singapore, certain supporting
    documents are needed to submit at the time of
    Singapore company incorporation. Documentation
    required for individual shareholder and/or
    individual director
  • If you are a foreigner, you need to furnish a
    certified true copy of the passport and a
    certified true copy of the proof of address (can
    be either utility bill / bank statement/ mobile
    bill)
  • If you are a local, you need to furnish the front
    and back page of the identity card to be
    certified by either Notary Public / Lawyers /
    Certified Public Accountant

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  • Documentation required for corporate
    shareholder
  • If your shareholder is a foreign corporate
    shareholder, you need to furnish a certified
    true copy of business profile and/or extract
    reflecting information such as registered office
    address, full company name, incorporation date,
    share capital, directors, shareholders and
    beneficial owners of the corporate shareholder
  • If your shareholder is a local corporate
    shareholder, you need to furnish the latest
    business profile of the corporate shareholder

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Step 7- Submission of documents and incorporation
confirmation
  • As the required forms are filled and
    documents are provided, Precursor experts would
    submit the application to ACRA in accordance with
    its procedure. In most cases, the incorporation
    of Singapore private limited company usually gets
    completed within 1 working day. 

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  • The confirmation about successful formation
    will then be communicated to you, upon which all
    the directors are advised to make a trip down to
    the Precursors office to collect the required
    ACRA documents such as share certificate and
    kits.
  • Once the private limited company is
    successfully incorporated, there are
    several Post-incorporation requirements that you
    can check out to ensure your business meet the
    compliance requirements in Singapore and steps to
    kick-start your business. 

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  • For More information visit this link
  • http//precursor.com.sg/step-step-guide-form-singa
    pore-private-limited-company/

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Contact us
  • Precursor Group Pte ltd.
  • Address 60 Albert Street 14-04 OG
  • Albert Complex Singapore
  • (189969)
  • Phone (65) 63365500
  • Email id clients_at_precursor.com.sg
  • Website http//precursor.com.sg

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