In the Republic of Singapore, limited liability companies (LLC) are the most basic and widely available type of business entity. LLC is an independent legal institution that offers company assets protection from possible liabilities and risks, that is why Shareholders take responsibility for the company’s debts only as much as they have put into the company (in terms of share capital).
Company incorporation in Singapore requires for a limited liability private company to include an abbreviation – Ltd., or a phrase Private Limited (PLC) to their name. This is a necessary condition for branch formation in Singapore.
Incomplete liability company registration in Singapore:
This process is not difficult and time-consuming, especially because now it is fully computerised.
The list of required documentation:
Eltoma Corporate Services will send you an e-mail letter with a form for company incorporation in Singapore and a Beneficial Owners Declaration form. You should complete these with the following information:
- Suggested name for the branch (approval normally takes about 2 days).
- General outline on the firm’s business activities.
- Materials concerning company authorities (Directors, Secretary, Shareholders).
- Office address of a registered branch.
- Details about share capital (currency, amount, type, division).
- If the standard Articles of your firm require any alterations or not.
You should sign a Beneficial Owners Declaration so that we can start the process of branch formation. And the owner’s personality should be identified by the documents listed below.
Eltoma Corporate Services requires the following documents for client identification:
- Beneficial Owner’s, Shareholders’ and Director’s passport copies.
- Proof of residence (Ex. Recent bank statement or reference, utility bill etc.).
- Copies of firm registration documents in case a Corporate Entity represents the Shareholder.
All the above listed documents should be translated into English (if they are originally not).
Company registration services in Singapore & incorporation process summary
- The client provides Eltoma Corporate Services with all the required information (completed forms of Beneficial Owners Declaration and company incorporation. KYC materials; permission to act on behalf of Director if necessary and signed M&AA etc.)
- An invoice (– 50% payment) will be send to a client by Eltoma Global in order to carry out an incorporation procedure.
- The company receives an approval of branch name and its Singapore registration number (the procedure takes about 2 working days).
- ECS will send the client necessary incorporation documents for signing and after that the client should return them back.
- When this is complete and the original documents receipt is received, the company becomes fully incorporated. Eltoma will also complete all post-incorporation formalities.
- The original company documents and stamp will be sent to the client by an ECS courier.
- For a full list of incorporation services in Singapore see here.
Time frame within which a company formation procedure in Singapore will be finalised:
In Singapore, organisation registration and formation process takes about 1-3 working days. The legalisation process can take additional 7-8 working days. After this is ready, the original documents are returned to the client.