Procedure for Incorporating a Private Company Limited by Shares
The first step in the process is to apply and reserve the proposed name with the Accounting and Corporate Regulatory Authority (ACRA). We will do a directory search to check if the proposed name is similar to any existing entity registered with the ACRA before we reserve the name.
Generally, the name reservation process takes about 1 to 2 working days upon submission of the application to ACRA. Please note that if the choice of name requires the approval of other regulatory bodies, the application process may be delayed.
Once the application is approved, the proposed name will be reserved for 60 days from the date of application. The proposed name may be extended for a final further 60 days provided that an extension of the reservation of the proposed name is made before the expiry of the initial reservation period.
Upon approval of the proposed name and the requisite information are provided to us, we will prepare the necessary incorporation papers.
Once all the signed incorporation papers are in place, we will submit the incorporation application to the ACRA. The incorporation process generally takes about 1 to 2 days.
For the purpose of incorporation, there must be at least one subscriber subscribing for a minimum of one share. A corporation or an individual may be a subscriber. Where a corporation is the subscriber, it must furnish a Power of Attorney for its representative to sign the Constitution.
For the purpose of incorporation, there must be at least one director who is ordinarily resident in Singapore. A Singapore citizen, Singapore permanent resident, an EntrePass holder or an employment pass holder are considered as resident in Singapore for this purpose. The directors must be natural persons, of at least 18 years of age and not disqualified to act as directors (i.e. not undischarged bankrupt or convicted of offences under the Singapore Companies Act).
If there is no such person who can fulfill this role, arrangement can be made for a nominee(s) to act as the subscriber and/or first director of the proposed company, subject to terms and conditions of Cresco. If you require such services, please let us know.
A company must have a registered office in Singapore from the date of incorporation. For the purpose of incorporation, our office may be used as the registered office at an annual charge.
Every company must appoint a secretary within 6 months from the date of its incorporation. The Company Secretary must be residing locally in Singapore and he/she must not be the sole director of the company.