Prepared for directors
of Singapore private
limited companies.
As of 2013
STARTING A
COMPANY IN
SINGAPORE:
INTRODUCTION
www.futurebooks.com.sg
LAUNCH YOUR
BIG IDEA
STRUCTURES AND
COMPLIANCE
www.futurebooks.com.sg
LEGAL STRUCTURES:
LOCAL DIRECTORS
www.futurebooks.com.sg
LEGAL STRUCTURES:
FOREIGN DIRECTORS
www.futurebooks.com.sg
IMPORTANT
GOVT BODIES
www.futurebooks.com.sg
COMPLIANCE WITH
ACRA’S BIG 4
www.futurebooks.com.sg
#1 APPOINTING A
LOCAL DIRECTOR
www.futurebooks.com.sg
#2 REGISTER MAILING
ADDRESS
www.futurebooks.com.sg
#3 APPOINTING A
COMPANY SECRETARY
Can I handle asset
registers?
Can I handle
share transfers?
Can I...
www.futurebooks.com.sg
#4 APPOINTING
AN AUDIT FIRM
Do I want to attend a
planning meeting?
Will I answer
email?
Will I get...
INCORPORATING
A PRIVATE LIMITED
COMPANY
www.futurebooks.com.sg
PLAN YOUR
INCORPORATION
www.futurebooks.com.sg
Q/A
WIN TALK -
TIME WORTH
$500 WITH A
CONSULTANT
www.futurebooks.com.sg
COMPLETING AN
INCORPORATION
•
•
•
•
www.futurebooks.com.sg
#1 BIZFILE
Download
www.futurebooks.com.sg
#2 M+AA
Download
Approx 100
articles
www.futurebooks.com.sg
#3 SHARE
CERTIFICATE
Download
Common seal
www.futurebooks.com.sg
#4 BOARD OF DIRECTORS
RESOLUTION
Download
www.futurebooks.com.sg
COMPANY
STAMP + SEAL
Do I need a
company seal?
www.futurebooks.com.sg
Search for
‘Singapore
incorporation’
on the App Store.
OPENING A
CORPORATE
BANK ACCOUNT
www.futurebooks.com.sg
STARTUP FRIENDLY
BANKS
Account name Min. opening
balance
Min. avg. daily
balance
Directors living
a...
www.futurebooks.com.sg
GET USED TO
CORPORATE BANKING
START-UP
FRIENDLY
VISAS
www.futurebooks.com.sg
OVERVIEW ON
WORK PASSES
Employment
pass
Entrepass
Business
visa
LOC
www.futurebooks.com.sg
SUMMARY OF
IMPORTANT TIMINGS
Activity Description
Incorporation
10 days to incorporate (7 days to c...
SCENARIOS
www.futurebooks.com.sg
A LOCAL WHO WANTS
TO TEST AN IDEA
www.futurebooks.com.sg
A LOCAL WHO WANTS
TO BUILD A PAYROLL
www.futurebooks.com.sg
A FOREIGNER ON A EP WHO
WANTS TO START A BUSINESS
www.futurebooks.com.sg
A FOREIGNER ON A DP WHO
WANTS TO START A BUSINESS
www.futurebooks.com.sg
A FOREIGNER WHO DOES NOT
WISH TO LIVE IN SINGAPORE
www.futurebooks.com.sg
www.futurebooks.com.sg
TERMS OF USE
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Start a company Singapore Introduction

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The session will cover in great detail the problems directors encounter when trying to start a company in Singapore.

These include:

choosing the right legal entity;
incorporation + compliance matters;
corporate shareholders and tax;
applying for work passes for foreign directors;
finding a startup friendly local bank.

See more here: http://futurebooks.asia/blog/starting-a-company-in-singapore-sponsore-byplug-inblk71/6816

Published in: Business, Economy & Finance
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Start a company Singapore Introduction

  1. 1. Prepared for directors of Singapore private limited companies. As of 2013 STARTING A COMPANY IN SINGAPORE: INTRODUCTION
  2. 2. www.futurebooks.com.sg LAUNCH YOUR BIG IDEA
  3. 3. STRUCTURES AND COMPLIANCE
  4. 4. www.futurebooks.com.sg LEGAL STRUCTURES: LOCAL DIRECTORS
  5. 5. www.futurebooks.com.sg LEGAL STRUCTURES: FOREIGN DIRECTORS
  6. 6. www.futurebooks.com.sg IMPORTANT GOVT BODIES
  7. 7. www.futurebooks.com.sg COMPLIANCE WITH ACRA’S BIG 4
  8. 8. www.futurebooks.com.sg #1 APPOINTING A LOCAL DIRECTOR
  9. 9. www.futurebooks.com.sg #2 REGISTER MAILING ADDRESS
  10. 10. www.futurebooks.com.sg #3 APPOINTING A COMPANY SECRETARY Can I handle asset registers? Can I handle share transfers? Can I file on time?
  11. 11. www.futurebooks.com.sg #4 APPOINTING AN AUDIT FIRM Do I want to attend a planning meeting? Will I answer email? Will I get it done? Will I maintain the budget?
  12. 12. INCORPORATING A PRIVATE LIMITED COMPANY
  13. 13. www.futurebooks.com.sg PLAN YOUR INCORPORATION
  14. 14. www.futurebooks.com.sg Q/A WIN TALK - TIME WORTH $500 WITH A CONSULTANT
  15. 15. www.futurebooks.com.sg COMPLETING AN INCORPORATION • • • •
  16. 16. www.futurebooks.com.sg #1 BIZFILE Download
  17. 17. www.futurebooks.com.sg #2 M+AA Download Approx 100 articles
  18. 18. www.futurebooks.com.sg #3 SHARE CERTIFICATE Download Common seal
  19. 19. www.futurebooks.com.sg #4 BOARD OF DIRECTORS RESOLUTION Download
  20. 20. www.futurebooks.com.sg COMPANY STAMP + SEAL Do I need a company seal?
  21. 21. www.futurebooks.com.sg Search for ‘Singapore incorporation’ on the App Store.
  22. 22. OPENING A CORPORATE BANK ACCOUNT
  23. 23. www.futurebooks.com.sg STARTUP FRIENDLY BANKS Account name Min. opening balance Min. avg. daily balance Directors living abroad DBS Startup Entrepreneur Account $500 $10,000 Easy OCBC Business Entrepreneur $500 $8,000 Easy Standard Chartered BusinessOne none $10,000 Easy UOB Current $1,000 $8,000 Hard MayBank Company Current $3,000 $10,000 Hard HSBC Business Vantage $30,000 $30,000 Hard Citibank Commercial Bank $100,000 $50,000 Hard
  24. 24. www.futurebooks.com.sg GET USED TO CORPORATE BANKING
  25. 25. START-UP FRIENDLY VISAS
  26. 26. www.futurebooks.com.sg OVERVIEW ON WORK PASSES Employment pass Entrepass Business visa LOC
  27. 27. www.futurebooks.com.sg SUMMARY OF IMPORTANT TIMINGS Activity Description Incorporation 10 days to incorporate (7 days to collect and sign docs + 3 days to process) Update MOM e-records 10-14 days for Ministry of Manpower to recognise a newly incorporate company before application can be submitted online Work visa 1-8 weeks to secure the EP application (if an EP is required) Open bank account with foreign director Allow 30-60 for a foreign director who cannot visit Singapore to open the bank account. For directors residing in Singapore, opening an account is 7 days.
  28. 28. SCENARIOS
  29. 29. www.futurebooks.com.sg A LOCAL WHO WANTS TO TEST AN IDEA
  30. 30. www.futurebooks.com.sg A LOCAL WHO WANTS TO BUILD A PAYROLL
  31. 31. www.futurebooks.com.sg A FOREIGNER ON A EP WHO WANTS TO START A BUSINESS
  32. 32. www.futurebooks.com.sg A FOREIGNER ON A DP WHO WANTS TO START A BUSINESS
  33. 33. www.futurebooks.com.sg A FOREIGNER WHO DOES NOT WISH TO LIVE IN SINGAPORE
  34. 34. www.futurebooks.com.sg
  35. 35. www.futurebooks.com.sg TERMS OF USE

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