Private Limited

Incorporating a Private Limited Company in Singapore

Private Limited Company (‘Pte Ltd’) is the most common type of company, which is limited by shares. The company may be registered with one shareholder. The shareholder can be either an individual or a corporation and there is no requirement for the shareholder to be a Singapore resident. The shareholder is liable to the amount, if any, unpaid on the shares issued to them. There is no minimum requirement for capital.

Facts to note about a Private Limited Company.

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Definition: A business form which is a legal entity separate and distinct from its shareholders and directors

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Owned by:

  • Exempt Private Company –20 members or less and no corporation holds beneficial interest in the company’s shares
  • Private Company – 50 members or less
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Legal Status:

  • A separate legal entity from its members and directors
  • Members have limited liability
  • Can sue or be sued in company’s name
  • Can own property in company’s name
  • Members not personally liable for debts and losses of company
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Registration Requirements:

  • At least one shareholder
  • At least one director ordinarily resident in Singapore, at least 18 years old
  • If a foreigner wishes to act as a local director of the company, he can apply for an EntrePass from the Ministry of Manpower
  • Undischarged bankrupts cannot be a director and cannot manage a company without approval from the Court or the Official Assignee.
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Formalities and Expenses:

  • More costly to set up and maintain
  • More formalities and procedures to comply with
  • Must appoint a company secretary within six months of incorporation
  • Must appoint an auditor within three months after incorporation unless the company is exempt from audit requirements
  • Annual Returns must be filed. Statutory requirements for general meetings, directors, company secretary, share allotments, etc. must be complied with.
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Taxes:

  • Profits taxed at corporate tax rates
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Continuity in Law:

  • A company has perpetual succession until wound up or struck off
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Closing the Business:

  • Winding Up – Voluntarily by members or creditors, compulsorily by the High Court
  • Striking off
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Private Limited Service Needs

  • Incorporation
  • Compliance
  • Payroll
  • Expansion
  • Employee Care
  • Shareholder Support
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  • Incorporation

    BoardRoom works closely with businesses to help them through every phase of incorporation to ensure that businesses owners are equipped with all the knowledge they need. Just as BoardRoom is dedicated to your business success, we dedicate experts to business owners and ensure clear communications and single-point contact. Our services are backed with over 50 years of experience that translates to a smooth incorporation process.

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  • Compliance

    Our efficient team of experts that are located across five regions will keep your business in complete compliance with the local statutory obligations. With over 50 years of experience, we understand the regional compliance landscape like the back of our hand. Our process that has weathered decades of trials and test ensures that accuracy is a staple in our delivery.

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  • Payroll

    Our automated systems are quick, simple, and convenient to help you achieve efficient and prompt disbursement of statutory contributions. Our qualified experts, located across five regions, will keep your payroll in complete compliance with the local statutory obligations. Payboard, our exclusive aggregator model, is a flexible tool that has payroll, leave, and claims functionality. Work together with our experts to ensure it meets all your requirements.

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  • Expansion

    Our regional and global work has led us to build an international network of 19 partners that help us to fulfill your expansion project. Our team of experts will be with you every step of the way to provide insightful growth advice 24/7. Our experts make expansion quick, simple, and convenient with immediate processing and hasty implementation to establish your business locally or globally.

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  • Employee Care

    BoardRoom takes care of every aspect of your Employee Care — Implementation, Administration, and Engagement. We cover all facets of employee care, which includes pay, incentive, share plan, and more. Our award-winning and intuitive software, Employee Serve and Client Online, is designed to provide secure and hassle-free access to plan holdings, employee forms, and corporate information.

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  • Shareholder Support

    Our years of organising shareholder events, such as AGMs, allow us to deliver consistent and swift proceedings that are private and discreet. Our highly customisable poll-voting platform and flexible system can effortlessly adapt to meet the agendas of companies to deliver tailored results. Our track record is backed by 50% of companies listed on SGX-ST through our years of dedication to meet shareholder’s

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    Victor Lai

    Regional Managing Director, Boardroom Corporate & Advisory Services