Understand the Singapore Company Incorporation Procedure in Five Simple Steps

Understand the Singapore Company Incorporation Procedure in Five Simple Steps

Singapore is an acclaimed destination for doing business. There are plenty of reasons that keep on motivating young entrepreneurs and investors to incorporate a business in Singapore. Different entrepreneurs have various reasons to incorporate a business in Singapore. Irrespective of the reasons or irrespective of business type, Singapore for sure is the chosen and widely preferred country to do business.

Most of the foreign investors like to incorporate their business as a private liability company also referred as Pte. Ltd. company in Singapore. Being a separate legal entity, a private limited company is the most flexible, and robust business structure in Singapore.

According to the Singapore Companies Act, a company incorporated as “Limited Liability” does not hold company shareholders liable, for any debts the company has incurred exceeding the total share capital contribution to the company. This makes shareholders liable, only for the total share capital they have contributed to the company. A private limited liability company can be incorporated by any local or foreign individual above the age of 18 years. Remember, companies incorporated under this business structure are not allowed to have more than fifty shareholders.

Unlike a sole proprietorship and partnership firm, a private limited company in Singapore offers many advantages to the entrepreneurs. Protecting personal assets of the individual investors and providing them specific tax benefits are two main benefits of incorporating a private limited company in Singapore. Besides, dividend allocated to shareholders is exempt from taxes and allows foreign directors, as well as shareholders, to apply for the Employment Pass.

Incorporating a business in Singapore (www.nomineedirectorservices.com.sg/company-incorporation/) is accessible to foreign investors, only if they seek assistance from external firms offering incorporation services in Singapore. Usually, the incorporation process is divided into two major steps. The first step is to register the company name and second is to incorporate a company under the registered name with Accounting and Corporate Regulatory Authority (ACRA). Usually, foreign entrepreneurs find navigating the process of company incorporation in Singapore a bit challenging.

This article is entitled to illustrate five options for them or to anyone interested in registering a business in Singapore

1) Choosing the Business Name:

choose a business nameBefore starting the actual incorporation procedure, it is important to choose the company name. It would be better if you select the name that will identify or highlight the products or services you will be offering. Having more than one name ready for approval always pays up, as ACRA has strict norms regarding company names and its approval. If everything is alright and your chosen company name does not violate any terms and conditions put forth by ACRA, it takes few hours to approve your business name.

2) Nature of Business Activity:

There are certain businesses where you need appropriate licenses and permits to start and operate your business. Banks, insurance companies, financial institutions, bars, casinos, private schools, recruitment and traveling agencies are some businesses requiring business-specific licenses and permits. Apart from that, businesses intending to import goods as well as businesses intending to manufacture and sell products, liquors or foodstuffs within Singapore will require special licenses and permits from specially appointed authorities.

3) The Initial Paid Up Capital:

Actually, this is important, but not-much-anticipated step in the process of Singapore business incorporation. Singapore Companies Act does not impose any restrictions on minimum paid up capital. An entrepreneur can register his/her business in Singapore with an initial paid-up capital of one Singaporean dollar. While, there are no any restrictions on the type of currency. As an entrepreneur, you are allowed to use any money as share capital for your business. Nevertheless, it would be better if you start your business with a massive amount as incorporating a traveling business will require an initial paid-up capital of about S$10, 000.

4) Appointing Company Director:

Anyone above the age of 18 years and under 70 years old can be appointed as a company director. Provided that the selected person should have clean records and should not possess a history of declared bankruptcy. There should be at least one director who should be a permanent resident of Singapore. In case if you want to appoint a foreign director then he/she should possess a valid Employment Pass. As per the Singapore Companies Act, an interim nominee director acts as a manager of the company, until the foreign director receives his/her employment pass. The acting director will resign after the foreign director obtains employment pass.

5) Determining Shareholders:

Determining and approving shareholders along with their paid-up capital contribution is one of the major steps to register a business in Singapore. At least one director and maximum fifty shareholders are allowed to a private limited company. Besides, foreign or even local shareholders are entitled to own 100% shares in a company.

The striking startup scene of Singapore

The striking startup scene of Singapore

Singapore is the most leading financial hubs in the world but now it is finding to include a little entrepreneurial strength to bridge its place in the business landscape. It is the densely populated place that lies off the southern side of the Malay. Singapore is now ranked as the easiest location to do business. This shows the city is set up very well for all types of western business. It possesses greatly educated, English speaking people, amazing infrastructure, a dynamic business, a strong political atmosphere and a competitive tax program. But few of the biggest financial gamers and global brands have an attendance in the country, Singapore has struggled to impress and make few of the forward-thinking products in the future. There is an effort from authorities to actually build the country into a hub technologically to be reckoned with.

Local economy:

EconomyThat is beginning to change. The IDA or Infocomm development authority has now released a two hundred dollar fund to assist European startup gateway and in turn, create the entrepreneurial ecosystem. Its proximity to few of the world’s largest development markets creates its great forcing proposition for start-ups. The local economy is the best area to start the Asian expansion, Singapore contains the highest percentage of rich, with one out of each six households getting minimum one dollar in disposable wealth, and the Singapore population hovers the five million mark. This shows its actual value is like a hub from that to gateway into nearby countries such as Indonesia and Malaysia. Anticipating if there is one place where Singapore turn on spirit is actually beginning to bare the teeth, it is in tech.

Commercial capital:

capitalWith the most of the largest banks containing headquarters, there is sufficient access to those who finch begin to require on the side to develop. The government is indisputable performing its part to create Singapore the commerce capital of Asia but there is a lengthy way to go prior it spawns the Google. When there is sufficient initial stage investment fund from the government, private investors, and VC companies, the involvement of the major overseas plays stays important. The preference of golden gate and sequoia capital ventures already contain footprint in Singapore, some west coast investors do not contain a huge incentive to see far beyond the quick vicinity. Surely, more funds on the west coast are very happy to aim within a localized area.

Sign of improvement:

improvementIf you can invest money into an Uber or an Airbnb, why would you afford more time and energy identifying what changes might exist in Asia? The thought of investors in and around the city has held things back to some extent but there is an indication of improvement. Investor eagerness in Asia stays risk averse when to compare to Silicon Valley, however, huge strides have been considered in the previous three years, but there is a confidence that there will be major change soon. It often needs some time for investor appetite to alter. Singapore is focusing on becoming a turn on hub such as no other.

How to help your employees to fight Monday blues?

How to help your employees to fight Monday blues?

Yes, it’s another Monday morning, a start of another long and busy work week. Maybe your weekend was more fan and you wish you didn’t have to get up and go to work. You are not motivated to go to that job but you have no choice. This is commonly referred to as ‘Monday blues’.

What exactly are Monday blues?

cheif of happinessAccording to Alexander Kjerulf, a well-known international author, and speaker defines ‘Monday Blues’ as a set of negative emotions that are experienced by many individuals just because they are not happy with their job. The Monday blues contain elements such as depression, hopelessness, tiredness and the feeling that their work doesn’t really fulfill them.

Even though Monday blues have become a cultural phenomenon, they are actually a signal that something is not right at work. If you would be happy with your work, then there won’t be any need of feeling depressed whenever work week commences. If your work was your passion, you would be energetic and exerted as this will give you an opportunity to work on what you like.

It has been proven that the current state of your emotions greatly affects the quality and the standard of your work. That is why business owners are advised to make sure that their employees are at their best emotional state always. The question remains, how can you help your employees fight Monday blues?

There are some techniques that you can employ on your workplace to make sure your employees don’t experience Monday blues.

Identify the Problem:

When your employees experience Monday blues every week, then that is a clear sign that there is something wrong in the workplace. Try as much as you can to identify the problem and do the best to fix it.

Ask your employees to list down all the things that demoralize them in the workplace and drop them anonymously.

You can also spread questionnaires highlighting the issues you think might be affecting the mental state of your employees. If some of the employees feel unappreciated, try to make them feel included and important in the daily activities of the business.

Set Up Some Contests and Rewards:

give rewardsLet’s be honest, the longest and most boring meetings and seminars happen on Monday mornings. Add that to the fact that some of your employees don’t feel like they are getting any satisfaction from their job. What do you have in your hands? A less motivated and dedicated team. There is a way around this, though. The best thing would be to offer rewards to the employees who were active and more creative in the meetings. Offer them an incentive that you know they can’t turn down.

Weekend Incentives and Contest:

Employees are selected in teams and are given a chance to participate and compete with each other. The team that is more productive and active on Monday wins an incentive. This can be in the form of paid drinks in the weekend, tickets to any concert that might be happening on the weekend, or roughly weekend night meals.


Motivating and finding any encouragement for your employees can help combat the Monday blues. Keeping them in good moods can have a huge impact on the production of your company and business.

As far as encouragement is concerned, keeping the workplace as entertaining as possible can make your employees look forward to Monday as a day they stand chances to secure a nice weekend for themselves. Bottom line, your workplace doesn’t have to be like an army barracks where people are worried all the time, but it’s supposed to be somewhere where everyone feels important.