Singapore Pte Ltd is the most popular type of limited company setup in Singapore. This article provides essential information on establishing and managing a Singapore Pte Ltd.
Establishing a Singapore Pte Ltd requires KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures as part of the due diligence process. Shareholders and directors can be either individuals or legal entities.
To set up a company in Singapore, a local director is required. If you don’t have sufficient directors, Otonomos can provide a Local Director.
For individual directors, the following documents are required:
Certified Copy of Passport
Certified Proof of Address
Additional KYC requirements:
Second Certified Copy of ID
Professional Reference Letter
Bank Reference Letter
Source of Wealth Declaration
For corporate directors, the following documents are required:
Certified Copy of Certificate of Incorporation or similar document proving the entity’s existence
Certified Copy of the Register of Directors
Certified Copy of the Register of Shareholders
Certified Copy of valid passports for the Directors
Certified Copy of a recent utility bill (issued within the last three months) for the Directors
Certified Copy of valid passports for Shareholders holding 10% or more shares
Certified Copy of a recent utility bill (issued within the last three months) for Shareholders holding 10% or more shares
Learn more about the additional KYC requirements [here].
Otonomos can also provide Nominee Shareholder positions for your Singapore Pte Ltd. Please note that the Beneficial Owner of the entity must still be disclosed.
Singapore Pte Ltd entities are renewed annually on the anniversary of their registration.
To ensure your Singapore Pte Ltd remains in good standing, timely renewal payments are essential to avoid penalties.
Annual Returns: In Singapore, it is mandatory to file Annual Returns, which must be submitted at the time of your entity’s renewal.
AGM (Annual General Meeting): An AGM is a mandatory meeting of the company’s shareholders held annually. This requirement applies to all types of companies in Singapore, including private limited, public limited, and listed companies.
Company Dissolution: To properly close down the entity, file for company dissolution. This process ensures the entity is shut down correctly and without loose ends.
Company Strike Off: Alternatively, an entity can be struck off if it fails to pay renewal fees or submit required statements. This process is less formal and occurs when the company does not comply with regulatory requirements.