STARTUP

Incorporating Your Startup in Singapore

A startup is a term commonly used to define a young company in its developing phase. Such companies are usually small and initially financed and operated by a single or handful of founders. A startup would offer products or services that are not currently being offered elsewhere within the market or that the founder(s) believes could be offered much better.

How do you incorporate your startup in Singapore?

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First have your company’s business name approved.

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Decide on which type of company to incorporate. It can either be private or public. Most startup would fall within the category of private (Private company <50 shareholders).

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Should your company have 20 or less shareholders who are not corporations, you may choose to set up an Exempt Private Company (Certain Exempt Private Companies need not lodge their financial accounts with ACRA).

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Acquire headcount to fill certain positions (One director >18 years old.)

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Most commonly the director would be a Singapore resident but there are other times, an E-pass holder could also become a director, subjected to the Ministry of Manpower’s Laws.

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<6 months of incorporation, the company is required to appoint a company secretory who is residing in Singapore, not the sole director of the company and meets the minimum qualification according to ACRA.

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Appoint an auditor <3 months of incorporation unless your company meets the requirements for exemption from statutory audit.

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If you are a foreigner in Singapore, you are required to appoint a local director and also engage the services of a registered filing agent to submit the online application on your behalf.

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All companies in Singapore are required to submit their Company Constitution to ACRA which lists:

  • Key characteristics of the company
  • Rules and regulations of how it is to be internally governed
  • How operations are carried out
  • Stipulates rights and obligations of its participants including shareholders, directors, and company secretaries.
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Once your company has all of the information ready, log on to Bizfile to submit an application to incorporate the company.

  • The fees involved in incorporating a company are:
    • Registration Fee: SGD$300
    • Business Name Application: SGD$15
    • All shareholders, directors, and company secretaries cited in your application must endorse their application online within 120 days of your application.

Startup Service Needs

  • incorporation Incorporation
  • complliance Compliance
  • Payroll Payroll
  • Expansion Expansion
  • Employee Care Employee Care
  • Shareholder 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

YOUR POINT OF CONTACT

Victor Lai

Regional Managing Director, Boardroom Corporate & Advisory Services