Singapore Statutory Requirement
A limited liability company is the most common form of business entity in Singapore. A limited company is incorporated
under the Companies Act, Cap. 50. A limited company may be limited by shares or by guarantee. A company may be
registered as a private company if it does not have more than 50 shareholders and its Articles of Association restrict the
right to transfer shares. Otherwise, the company must be registered as a public company.
A company is a body corporate and has a separate legal personality from its shareholders. The company can sue and be
sued in its own name. It can own property and incur debts. The liability of the shareholders, if any, is limited to any amount
unpaid on their shares. When the shares are fully paid-up, the shareholders have no further liability to contribute towards
the debts of the company.
Rules for Companies:
As per Section 171 of the Singapore Companies Act, every company must appoint a qualified company secretary within
6 months of its incorporation. It has to be noted that in case of a sole director/shareholder, the same person cannot act
as the company secretary. The company secretary must be a natural person who is ordinarily resident in Singapore.
Your registered office must be open and accessible to the public for not less than three hours between 9am and 5pm
Print your company registration number on all letterheads, invoices, statements of accounts, official notices and publications.
Notify ACRA within the prescribed time if there is a change of company particulars, such as a change of address,
business activity or directors.
Annual General Meeting.
The first Annual General Meeting (AGM) of your company must be held within 18 months of the date of incorporation.
You must appoint an auditor within three months of the date of incorporation. Your annual accounts must be audited and
filed with ACRA within one month of the AGM. Get a list of what and when to file on ACRA's website.
Companies with less than 20 individual shareholders (Exempt Private Companies) do not need to appoint an auditor, audit
their accounts or file them with ACRA if their revenue is less than S$5 million for the financial year.