Registration of a Local Company Basic requirements At least one local director (Singapore Citizen, Singapore P.R, Pass Holder*1); Shareholders can be any qualified individual; Appoint a Company Secretary; The amount of Share capital; A registered address in Singapore; After Registered on ACRA, you may need to open: Bank Account to make the business transactions; CPF…
About SME SME means Small to Medium Enterprise. SMEs in Singapore was previously defined as enterprises with fixed asset investments of $15 million and below for those in manufacturing, and employment size of 200 and below for non-manufacturing enterprises. The Ministry of Trade and Industry announced on 22nd March 2011, the new parameters have set…
REGISTRATION AS A PRIVATE SCHOOL The registration of private schools is currently carried out online through the LicenceOne. Please ensure the following items are completed before logging on to the online application: renovation and furnishing works are to be completed before application through LicenceOne application is to be made only by the proposed member of…
Company Types Different types of businesses necessitate different company setups. Before starting a business or incorporating a company, learn which type of company will work most efficiently for your business. Sole-Proprietorship A sole-proprietorship is a business owned by one person or one company. There are no partners. The sole-proprietor has absolute say in the running…
Director, Secretary, CEO, Auditor Directors A director is the person responsible for managing the affairs of the company and providing it with directions. A director must make decisions objectively, act in the best interest of the company, and be honest and diligent in carrying out his duties. Under the Companies Act, the minimum number of…
CLASSES OF SHARES The rights and interests attached to these persons’ shares are known as class rights. Where there is only one (1) class of shares, the rights are simply called shareholder rights rather than class rights because there is no other class to compare with. Class rights The share capital of a company may…
Close a Business Business A sole-proprietor / partner may notify ACRA that the business is no longer in operation “Cessation of Business” . If the sole-proprietor or the partnership is GST registered, the business owner also has to apply for cancellation of GST registration with IRAS. Business owners or authorised representatives must ensure that they…
