2. Company Formation Procedure
.
Promoters
Look for
location of
company
Check Name
availability
All the documents
needs to be signed in
front of Certified
Public Accountant or
a solicitor in
Singapore.***
Submission of
MOA and AOA
along with other
documents * to
ACRA**
**ACRA- Accounting and Corporate Regulatory Authority
***To execute outside Singapore, the same should be signed in front of notary of
such country
•* Directors details
along with ID
proof and
residential proof.
One of the
Directors should
be resident of
Singapore
• Shareholders
details along with
ID proof and
3. Company Formation Procedure –
Contd.
*
Certificate of Incorporation will be obtained after a
week
Commencement of Business
Opening of
bank
account
Appointment of
Secretary within Six
months of
incorporation*
*Company Secretary shall be a locally resident individual
Board
Meeting
4. Documents Required
Memorandum & Articles of Association of the proposed
company
Name of proposed Directors along with residential proof
and ID proof
Name of the shareholders along with residential proof
and ID proof
Copy of passport and Identity card
Paid up capital should be
Minimum- One share in any currency
Maximum share capital - unlimited
5. Post Incorporation Compliances
An Annual general meeting is to be conducted within 18
months of Incorporation and subsequently within 15
months from previous AGM
Income tax return to be filed before 30th November each
year with Inland Revenue Authority of Singapore
Accounts are to be filed with ACRA complying with
Financial Reporting Standard
An audit is mandatory if the turnover of the company is
more than S$ 5M and if the company's shares are held
by corporate entity
7. Employment Passes
For an Employment Pass, the monthly fixed salary
should be at least S$3,000 along with any one of
below qualifications:
-- Acceptable educational qualifications
-- Professional qualifications
-- Specialist skills
The application of the Singapore Employment Pass
can only be submitted after the incorporation of a
company.
Person possessing Singapore Employment Pass will
be considered as local resident director
8. Professional Fees
Particulars
Amount ($)
Cost of Floating of the Company
(filing fee, secretarial kit and professional fee)
$ 1,400
Nominee Director’s Service
$ 725
Local Company registered office address for One year
(Maintaining a mail box, receiving all mails)
$ 500
Secretarial Charges
(preparation of first minutes, bank accounts opening resolution and
ACRA annual return filing resolution)
$ 645
Filing the return with ACRA
$ 500
Preparation of annual accounts with FRS
(if audit is not required)
$ 1,200 *
Where audit is required, audit fee would depend on the volume of work,
amount of time to be spent and the degree of risk, skill set and
responsibility required to be exercised in the assignment
* Budgeted Fee
9. Thank you
Please feel free to Contact
Mr. Sathya Hegde
BBM,FCA,CPA
Partner
B C Shetty & Co,
Chartered Accountants
Mobile :+91 9945179868
Mail Id: sathyahegde@bcshettyco.com
