What criteria that we need to build a company at Singapore?

Question

I am Indonesian, and I want to know what things to do if I want to build a company there. For example, first I must bla bla bla, the second I must bla bla bla. Thank you for the answer

Answer 1

Any person who wants to incorporate a local company may engage a professional firm or service bureau to assist him in the filing of the application for incorporation via Bizfile.

A company can also be incorporated by the directors themselves. (For convenience, we call this process “self-incorporation”.) For self-incorporation cases, the proposed directors, secretary and subscribers must all be Singapore NRIC holders.

Requirements:
Any person above the age of 21 years can incorporate a local company.

With effect from 1 April 2004, a company may have only one director who must be “ordinarily resident in Singapore” i.e. a Singapore Citizen, a Singapore Permanent Resident, a person who has been issued an Employment Pass/Approval-In-Principle letter or a Dependant Pass.

A foreigner who wishes to act as a local director of a company can apply for an Employment Pass or Approval-In-Principle letter from the Work Pass Division of the Ministry of Manpower (MOM) under the EntrePass Scheme. Please click here to go to the MOM website for more details.

Private Company limited by shares
Private Company
This is a locally incorporated company where the number of shareholders is limited to 50.

Exempt Private Company
This is a private company:
• which has not more than 20 shareholders, and none of the shareholders is a corporation; or
• that is wholly owned by the Government and which the Minister, in the national interest, declares by notification in the Gazette to be an exempt private company.
Such a company can choose to file a Certificate of an Exempt Private Company instead of its accounts at the time of filing its annual return.

Bizfile transactions to be filed:

• Apply for a New Company Name
Click here to view the step-by-step guide

The Companies Act requires that a company name must be approved before the company can be registered. A proposed company name will not be approved if it is identical to the name of another local company, branch of a foreign company or business firm. Undesirable names, including offensive or vulgar names will also not be approved.
Application for approval of a company name can be submitted online via Bizfile by a professional firm or service bureau. It can also be submitted by a proposed director of a new company. S$15 is payable for each approved company name. An approved name will be reserved for 60 days from the date of application.

The processing time is within 15 minutes of payment. However, if we need to refer an application to another government authority for comments, it may take another 14 working days. If a name appeal application is submitted, the processing may take another 5 working days. Click here for the Referral Authorities Table.

• Incorporate a Private Company
Click here to view the step-by-step guide
After a company name has been approved, the company can be incorporated online. A registration fee of S$300 is payable for a company limited by shares regardless of the amount of its authorised share capital. Generally, the processing time is within 15 minutes of payment.

Click here to view a sample of the standard Memorandum and Articles of Association for the incorporation of a company.

For self-incorporation cases, the proposed directors/secretary and subscribers will need to endorse their consent online via Bizfile within 3 days of submission of the application for incorporation.

• Apply for Extension of Reservation Period
An application for the extension of the name reservation period for another 60 days can be submitted online upon payment of an application fee of S$10 for each approved name.