1. company name: the name of the new company must be approved by ACRA first. Singapore companies must have English names or pinyin names.
2. Directors: The company shall appoint at least one local director (including Singapore citizens and permanent residents PR), and may use a nominal director. Any number of local and foreign directors can be appointed as required. Qualifications of directors: at least 18 years old, with no bankruptcy or criminal record. Directors are not necessarily shareholders.
Shareholders: A private limited company may have 1 to 50 shareholders, who may be local or foreign individuals or entities. After the company is established, you can issue or transfer shares to shareholders.
If there are no more than 20 shareholders in a private company, and no other enterprise directly or indirectly holds the shares of the company, it is regarded as a private exempted company (EPC). If it meets the requirements of small companies, EPC can be exempted from audit.
4. Company Secretary: According to Article 17 1 of the Singapore Company Law, a qualified certified company secretary must be employed within 6 months after the company is established. The secretary will be responsible for the subsequent submission of annual reports and financial statements to ACRA. The secretary must obtain the license of ACRA, be a natural person living in Singapore, and not be the sole director or shareholder of the company.
5. Paid-in capital: at least S $65,438 +0, which can be increased at any time. Singapore companies do not use authorized capital, but issue common shares, preferred shares or other shares.