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Tax exemptions and appealing incentives are provided by Singapore to business people who put up their businesses in the country. This is the primary reason many multinational corporations pick out Singapore as their corporations’ base of operations.

Many companies registered in Singapore are classed as private limited companies. Company registration regulations in Singapore say that anyone – a non citizen or a Singapore national – who is above 18 years old is qualified to register a private limited company.

Like other countries, Singapore has a set of guidelines for the registration of a private limited company.

The following are the basic guidelines specifically prepared for multinational entrepreneurs intending to put up a private limited company in Singapore. This list addresses the basic requisites, the steps, and some things that you could encounter when registering your private limited company in Singapore.

1. Entrepreneurs wishing to set up business operations in Singapore must hire the services of a Singapore-based professional firm that can act as a go-between for the registration process. Singapore does not allow foreign individuals or entities to register a company by themselves.

2. There should be at least 1 person who will be designated as resident director for the private limited company. In this context, a resident is person who is a Singapore citizen, who could either be a natural-born citizen or person given by the country any of the work permits for foreign nationals.

3. A private limited company registered in Singapore must have at least one and at the maximum 50 shareholders.

4. A private limited company applying for registration in Singapore is required to present a physical address located in Singapore, and not just a PO box.

5. Immediately after the registration of a private limited company has been granted, the company may now open a corporate bank account in any banking institutions in Singapore. According to the banking industry, this particular process requires the principal of the private limited company to be personally present for this particular transaction.

6. Based on the business description of the private limited company, the Singapore government may necessitate it to also apply for a business license upon registration.

When everything is in place, your company will now be prepared to offer its services to people in Singapore.

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