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
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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.
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• 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.

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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 [phone]
• Email id clients_at_precursor.com.sg
• Website http//precursor.com.sg

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