• Incorporation

    Company Incorporation (Residents)

Package

Company Incorporation for residents in Singapore refers to the legal process of establishing a new corporate entity separate from its owners, including registering with the Accounting and Corporate Regulatory Authority (ACRA), defining its structure, appointing directors, and completing other necessary formalities.

Our package is designed for Singapore citizens and permanent residents, who:
–  Do not require our local nominee directorship,
–  Do not require Employment Pass filing services.

S$1,100

Per year

Both “a la carte” and “packaged” pricings are available on demand to better fit with your evolving corporate needs.

Please note that we reserve the right to modify prices and relevant terms without prior notice – if deemed necessary by market conditions.

What is Included in this Package

Services Included (First Year):

  • New Company Registration

  • Bank Account Opening Assistance

  • 1st year Registered Address

  • 1st year Corporate Secretary

  • 1st year Accounting Bookkeeping (covering 200 transactions per year)

  • Government filing fees are also covered – with no additional or hidden charges

Services Included (Second Year Onward):

  • 1-year Registered Address

  • 1-year Corporate Secretary

  • 1-year Accounting Bookkeeping (covering 200 transactions per year)

  • Preparation of Financial Statements in Singapore format

  • Annual Return filing (with the ACRA)

  • Tax Planning Consultation

  • Tax Filing (with the IRAS)

  • Government filing fees are also covered – with no additional or hidden charges

Package Suitability

For Permanent Resident or Singapore Citizen:

Selecting this option is suitable if you have a Permanent Resident or Singaporean citizen (yourself or someone you know) to serve as the local director for your proposed company (eliminating the need for the Nominee Local Director service).

This package also assumes you will not require a work visa.

For Simple Ownership:

The company’s ownership should involve a limited number of individuals or a single shareholder.

This package is unsuitable for companies with complex ownership structures – including trusts, multiple corporate shareholders, or corporate shareholders from offshore / low-tax jurisdictions.

For Small & Simple Businesses:

The package is designed for small companies:

– Projecting first-year sales typically below 1 million Singapore Dollars and requiring a single bank account,

– Engaged in simple business activities such as trade of goods or provision of services.

Incorporation Procedure and Timeline

STEP 1 - Submit Documents For Company Registration in Singapore

If your proposed company will have individual(s) as shareholder(s), then the following documents will be required for each Director, Shareholder, and Ultimate Beneficial Owner (UBO):

  • Passport
  • NRIC copy for Singapore citizens and PRs (or FIN card for Singapore Employment Pass Holders)
  • A 2nd identification card (ex: Driving License, National id card, etc.)
  • Proof of residential address (i.e. rental agreement, recent utility bill, etc. – not older than 3 months)
  • KYC form filled (including a brief synopsis of professional background)
  • Business background

.

If your proposed company will have corporate entity(ies) as shareholder(s), then the following details will be required:

  • Certificate of Registration: This will be issued by the jurisdiction’s Registrar of the country in which your company is registered.
  • Company Extract:
    • – Company’s name, identity number, registered address and principal business activities
    • – Capital (Paid-up, issued, authorized) of the company
    • – Details of Shareholders and Directors
  • Authorized Person Resolution (Board Resolution): This resolution needs to be passed by the company’s director(s) and should include:
    • – The decision of the shareholding company to hold shares in your proposed Singapore Company.
    • – The appointment of an Authorized Person for signing documents related to the formation of the Singapore Company on behalf of the shareholding company.
  • Ownership Structure Chart: It should identify the key Ultimate Beneficial Owners (UBOs) of the shareholding company. For each UBO, the listed documents will be required.

STEP 2 - Remote identity verification and document signing

We will verify your identity and conduct a Zoom call with you.

Following the call, the incorporation documents will be prepared and sent to you for signing via e-signature software.

You can sign the documents from the comfort of your home, eliminating the need to travel to Singapore.

STEP 3 - Company Incorporation Completion

After all documents are electronically signed, our team will proceed with the incorporation of the company.

Following the incorporation, relevant post-incorporation documents will be emailed to you.

STEP 4 - Bank Account Opening

After the incorporation, we will connect you with a bank representative who will assist you with remote bank account opening. Depending on your preference, this could be with a neobank or a traditional bank.

Nowadays, many banks do not require a minimum deposit, but it’s advisable to verify this directly with the respective banks.

STEP 5 (for option 2 only) - File Employment Pass

The Employment Pass application will be filed at this stage.

Commonly Asked Questions

Timeline:

Registration Completion Timeline?

The exact timeframe will depend on how promptly you can fulfill the requirements on your end, such as document signing and providing supporting documentation.

Upon submission of all required documents to us and completion of the KYC process, the company can be incorporated within 1 day.

Bank Account Opening Timeline?

Opening a Singapore corporate bank account typically takes between 3 to 4 weeks.

However, it’s important to note that Singapore banks require at least one physically present Executive Director in Singapore to provide their signature for the account opening documentation.

Local Nominee Director:

My friend holds a Singapore employment pass. Can she/he acts as my company’s local director?

No, it is not possible.

According to the Ministry of Manpower rules, an individual holding an employment pass issued by one company cannot act as a director of another company.

Foreign Hiring:

Am I allowed to hire foreigners to work for my company?

Yes, it is possible. Any Singapore private limited company is permitted to hire both local and foreign staff.

However, it’s important to note that when your company hires foreign staff, they must meet the eligibility criteria for the relevant work pass category (S-Pass or Employment Pass).

INQUIRY FORM

–

INCORPORATION 

(Company Incorporation – Residents)

Please complete the Inquiry Form below to receive tailored assistance for your business operations and corporate needs from BESO.

Our team of experienced advisors will promptly reach out to you.

Thank you for your interest!

BESO Corporate Services PTE LTD

hello@beso.sg

60 Paya Lebar Road, #07-54 Paya Lebar Square, Singapore 409051

+65 6303 4429

+65 9248 0866

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