In ACRA’s definition, registered office address is where all communications and notices to the company are addressed to, and where the company’s registers and records are kept.
The registered office must be an address in Singapore, but it need not be the place of operation. For instance, your company’s registered office address may be in Raffles Place but your factory could be located in Tuas.
Most offshore foreigners may find it difficult to open a corporate bank account in Singapore due to the lack of accessibility. This is where corporate service providers such as Sprout Asia come into the picture - we work with bankers from local banks to assist with our clients’ bank account opening. Some banks allow virtual bank account opening on a case-by-case basis.
All Singaporean companies are required to onboard at least one local director on their company’s board. Companies that do not have local directors may choose to appoint a nominee director to meet the requirement. You may find out more about the role of a nominee director here and who can be a nominee director here.
The company’s Financial Year End (FYE) is typically a date which is the last day of the month. We recommend choosing the last day of the previous month if you don't have any particular preference (eg. If we are in the middle of May, we recommend 30 April). This will maximise your tax breaks as a start-up company.
Companies under selected industries or with names containing certain words will be sent to the respective referral authority. Find out more about selecting the right SSIC codes and relevant industries here.
Good news, onboarding with Sprout can be done completely online on our portal. For verification purposes, locals and FIN holders can verify their identity via Singpass, and foreigners will have to go through a video verification and upload a copy of their passport and proof of address. It’s as simple as that!
With Sprout’s proprietary onboarding platform, the onboarding process has never been easier. Once the onboarding process is complete, it takes no more than 1-2 working days to incorporate a company - unless the application gets sent to the referral authority by ACRA.
No. S Pass or Work Permit holders are not allowed to carry on or manage any business in Singapore.
A company's constitution (formally known as the Memorandum and Association) is a legal document that:
The Company's Constitution must be submitted to ACRA upon application.
The Company Law in Singapore mandates that every company must appoint a Company Secretary, and the position must not be left vacant for more than 6 months at any point in time.
The Company Secretary is responsible for ensuring that the company complies with the relevant legislations and regulations. You may find out more about the obligations and requirements of a company secretary here.
