When a Singapore company is incorporated, it must issue one or more subscriber shares to its initial members. The company's issued share capital is the total number of shares in the company multiplied by the par value per share. It may increase capitalization by issuing more shares. Therefore, it is important to have an appropriate shareholder agreement to avoid future disputes. However, please note that the minimum capital that a company can register is S$1 (or any currency equivalent). The paid-in capital is basically a part of the company's issued and fully received shares.
According to company law, at least one company or individual is required to hold shares when forming a Singapore company. One hundred percent (100%) of local or foreign equity is also allowed.
In addition, the company must have at least one director who is “usually” residing in Singapore. ACRA defines this as a Singapore citizen, Singapore permanent resident or a pass for a pass to hold an Employment Pass/Entrepreneur Pass or a residential address in Singapore. Please note that company directors and shareholders can be the same or different people.
This is a mandatory requirement for a merger in Singapore as all official communications are sent to this address. The registered address must be the actual address, not a PO Box. However, the use of residential addresses is permitted in certain types of commercial activities.
The law requires all companies in Singapore to appoint a company secretary within six months of their incorporation. He or she must have the necessary domain knowledge and be responsible for ensuring all regulatory compliance. Most companies outsource mandatory company secretary requests to company registration experts in Singapore, such as A1corp.
Similar to the statutory compliance of company secretaries, the “Company Law” stipulates that all companies must appoint an auditor within three months of registration unless the company is exempt from audit requirements. To be exempt, the number of individual shareholders in the company must be less than 20, without company shareholders, and their annual turnover must be less than S$5 million. Therefore, an EPC with an annual income of less than S$5 million does not need to perform audit compliance.
The company's articles of incorporation stipulate rules for internal management of the company, while the memorandum stipulates the activities that the company can engage in. The Singapore Companies Registry provides standard MAA documents for most companies. When you set up a company or set up a company in Singapore, check it out.
If the company is registered successfully, the Singapore Companies Registrar will send an email confirming the company's establishment. It includes the company's unique entity number (UEM), which is the standard identification number issued by the Singapore government to any commercial entity registered in Singapore. In addition, the company secretary is responsible for issuing the company's stock certificate, which constitutes a share ownership certificate and indicates the shares allocated to each shareholder. The secretary must also issue the first council resolution and the bank account resolution. Another document you can get (when you pay) is the company's company registration certificate.
Company seals and company seals (as specified in the company charter) are other requirements. In Singapore, all official company documents must have a formal company seal in addition to the company's unique entity number (UEN)/company registration number and registered address.
A1corp is the best place that is offering Company registration services in Singapore.
If you want to know more information on Company registration, visit https://www.a1corp.com.sg/singapore-company-formation