Private Limited Company is the best choice for a Singaporean offshore company.
• Corporate Requirements
1. Each PLC must have at least one shareholder who can be a local or foreign, individual or legal corporate entity.
2. Each PLC must have at least one local director. The local director may be a Singapore citizen, a permanent resident, or an employment pass holder.
3. Each PLC must have a local individual secretary who is a Singaporean citizen or resident and has responsibilities to maintain books of accounts subject to local audit requirements unless exempted.
4. Each PLC must maintain a local registered office in Singapore, which must be a physical address (rather than a post office box). This is normally where the statutory registers and records and the common seal are kept.
5. The minimum paid-up capital to incorporate a PLC in Singapore is S$1. There are not any other restrictions about capital.
• Annual Requirements
The AGM must be held within 4 months from Financial Year End for listed companies or within 6 months for other companies. PLC may vote to dispense with the requirement to hold annual general meetings.
2. PLC has an obligation to prepare financial statements each year, which must be in accordance with International Financial Reporting Standards. PLC’s financial statements must be audited unless exempted.
3. PLC must submit an annual return together with audited accounts to the Registrar of Companies. This must be accompanied by a copy of the financial statements unless PLC qualifies as a Solvent Exempt Private Company.
4. An annual tax return is also submitted with the Inland Revenue Authority of Singapore (IRAS).
Late filings will get penalized.
PLC must file copies of its financial statements, which will also finally become publicly available unless exempted.
|Company Incorporation Service Fee|
|Incorporation of Local Company Fee to ACRA|
|Local Registered Office Service||12 months||12 months|
|Local Secretary Service||12 months||12 months|
|Certificate of Incorporation|
|Company Business Profile from ACRA|
|Statutory Register of Directors, Secretaries & Members|
|Constitution of Company|
|Share Certificates to Shareholders|
|Minutes of First Board Meeting|
|Professional Consultancy via Phone and Email|
|Assistance on Opening of Company Bank Account|
|Company Statutory Record & Company Kit|
|Total fee||US$ 1,480||US$ 1,779|
|Setup Company||Setup Company|
Beside the company incorporation service, we also provide Offshore Bank Account Assistance of numerous banks in the world and Other Services necessary for any offshore company.
For any further questions, feel free to Contact Us for more details.