Answers - Incorporation
A1) The minimum is one. It can be a corporate body or an individual.
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A2) The minimum is one, providing that one person is a resident of Singapore.
There must always be at least one director who is a resident of Singapore in the company.
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A3) Yes. The registered office can be either an office or a residential address.
You will need to seek the approval of either HDB or URA (whichever is applicable) if you wish to use a residential address.
Your privacy and the image of your company are also factors to consider when using a residential address.
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A4) Private exempt companies with financial years beginning after May 2004 and turnovers less than
S$5 million, do not need to have their accounts audited. They do, however, still need to file an annual return,
together with a financial report that complies witht the financial reporting standards of Singapore, as required in the
Companies Act, Cap. 50
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A5) These are private limited companies that have less than 20 shareholders who are individuals and must
be solvent. Once there is a corporate shareholder, the company is no longer classified as a private exempt company.
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A6) Yes. The first annual general meeting must be held within 18 months of incorporation. Thereafter,
an annual general meeting laying out the accounts of the company for approval by the shareholders, must be held once every
calender year and not more than 15 months arfter the last annual general meeting.
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A7)Professional firms or the promoters of the company can incorporate the company.
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A8) You will need to pay the Accounting and Corporate Regulatory Authorities $15 to reserve your company
name and another $300 for the registration fee. Professional fees to incorporate companies vary among the professional firms.
Please email us at sales@singapura-management.com if you wish to find out more about our charges for incorporation
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A9) All companies will need to appoint a corporate secretary within 6 months of incorporation to ensure
that the company meets its statutory requirements. The accounts of the company must also be kept properly and compiled into
a financial report that complies with the financial reporting standards of Singapore, for submission with the annual return.
All the above can be done in-house but it's cheaper to have it outsourced, in general. Please email us at
sales@singapura-management.com if you would like to know more about our charges for these services.
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A10) Please submit your question via the 'Just Ask' form on our home page
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Answers – Virtual office
A11) Our official working times are Monday to Friday from 9:00am to 6:00pm. The reception is closed
between 12pm - 1pm for lunch but if you want to pick something up then, do call us and we will have someone stay on to hand your mail over.
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A12) Depending on which plan you choose, you can put our address, phone and fax numbers on your name
cards, brochures and other correspondence materials as a point of contact. There will always be someone to answer on your
behalf during office hours and forward the message to you by email everyday. Your faxes will also be scanned and sent to
you by email everyday.
In Singapore, it is not illegal to use your residential address as the registered office, but commercial ones are preferable
for privacy and image reasons. Those living in HDB will also need to get prior approval from HDB before using their homes as
a registered business address.
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A13) Yes. We do forward mail to clients who require this service. A deposit of S$30 is required to cover
the postage and handling fees for each mail-out. Our handling fee is $0.50 per locally-addressed letter less 20g
(inclusive of postage). Mail forwarding for foreign addresses will have rates that differ for each country. Please email us
if you need more information.
We do not forward parcels. So, these will have to be collected from our office personally.
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A14) For usage of the meeting rooms, please inform us of the dates, times and the number of people that
will be in the meeting, at least 3 hours before you wish to use the room, so that we can allot an available room to you.
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A15) Immediately upon payment.
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A16) Please contact us at sales@singapura-management.com for payment details.
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A17) Yes, you can. Please contact us at admin@singapura-management.com for remittance instructions. You can also pay us by Paypal, credit card or Western Union.
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A18) The deposit is for the postage charges and handling charges that will be incurred when we forward the mail to you
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A19) Just inform us of your mail forwarding requirements. The standard postage and handling charges apply.
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A20) There are various ways to have a business presence here in Singapore. You can either have a point of
contact as in our Virtual Office packages, or register your business as a representative office, foreign company or as a
Singapore-incorporated company.
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A21) Please submit your question via the 'Just Ask' form on our home page
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Answers – Limited Liability Partnership (LLP)
A22) The main advantage is that an LLP is a separate legal entity. It operates with the flexibility of a partnership but the partners have limited liability.
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A23) No, unless it is a result of the partner’s own wrongful act or omission.
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A24) No. There is no need to appoint a corporate secretary nor audit the accounts. However, a solvency statement must be submitted to ACRA annually.
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A25) Yes. An LLP must keep proper accounting and other records. They must be sufficient to explain the
transactions and financial position of the LLP. The documents must enable profit and loss accounts and balance sheets to be prepared to give a true and fair view of the LLP’s state of affairs.
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Answers – Branch office
A26) A branch office is actually a foreign company that is incorporated outside of Singapore and wishes
to do business in Singapore as a foreign company. They must register as such with ACRA before commencement of business.
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A27) A branch office has to appoint 2 resident agents. No corporate secretary need be appointed as well.
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A28) Yes unless exemption is approved by ACRA. The audited accounts of the Head Office must also be filed with ACRA.
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