Establishing a Corporation in Singapore

With the world's second-freest economy, a stable and diversifying economy and a pro-business government, Singapore business establishment is profitable. Furthermore, establishing a corporation in Singapore is easy, as evidenced by the World Bank's 2011 Doing Business survey. As experienced global corporate consultants, Healy Consultants approach assists international investors with all aspects of business establishment in Singapore. This webpage contains information on the initial steps required for establishing a corporation in Singapore, including company formation:
1.	Our client settles Healy Consultants' engagement fees and signs our standard engagement letter, which sets out the terms and conditions for business establishment in Singapore, as well as the due diligence we require (see also point 3).
2.	Our team sends our client a detailed engagement plan, which highlights the steps required for Singapore business establishment, as well as outlining potential pitfalls. This approach to establishing a corporation in Singapore minimises nasty surprises for our client and ensures that expectations are met.
3.	Before establishing a corporation in Singapore for our client, we receive our client's corporate and personal due diligence information. Although some information is supplied to the government authorities during company formation, Healy Consultants will treat it with the utmost confidence at all other times (see also our Privacy policy).
4.	Our client confirms the Singapore corporate structure, including shareholder and director details. Normally when establishing a corporation for our clients, Healy Consultants acts as the Singapore resident director to comply with the Singapore Companies Act. Shareholder and director details are required by the Accounting and Corporate Regulatory Authority of Singapore (ACRA), which is responsible for Singapore business establishment. Healy Consultants' incorporation team checks with ACRA whether our client's preferred company name is available for incorporation, and if it is we reserve the name.
5.	Our client signs and returns the following corporate documents to Healy Consultants: Letter of Appointment of First Director, Declaration of Trust from the nominee shareholder (if a nominee shareholder is required), and Memorandum and Articles of Association. Once these are received, Healy Consultants submits them to ACRA.
6.	Approximately three days later, ACRA e-mails a Certificate of Incorporation to us, which we then forward to our client. The Certificate confirms that this phase of establishing a corporation in Singapore is complete.
7.	Healy Consultants' compliance team prepares post-incorporation documents, including minutes of the first meeting, preparation of By Laws and assurance of initial Share Certificates, which are sent to our client for signature and return to us. Once this step is complete, our Client Liaison Officer will courier a complete company kit to our client, if required. The kit includes i) Certificate of Incorporation ii) bound Memorandum and Articles of Association iii) share certificates iv) client feedback form.
8.	The next phase of business establishment in Singapore is to open an international corporate bank account for our client. Normally this can be achieved without our client needing to travel to meet the bank in person - our banking staff handle the entire application. The corporate bank account is with a major international bank (for example HSBC, Standard Chartered, Citibank and DBS Bank), allows transactions in multiple currencies and features first-class internet banking facilities which are crucial to establishing a successful corporation in Singapore.
9.	Some clients looking at business establishment in Singapore request a Singapore address which they use for invoicing purposes. Alternatively, they may require a Singapore virtual office, which may include rental of physical office space in Healy Consultants' Singapore office (conveniently located in the Orchard area of central Singapore), or telephone, fax and e-mail services, including message taking and call forwarding.
10.	International entrepreneurs establishing a corporation in Singapore sometimes require assistance to market their Firm globally. Healy Consultants employs professional copywriters and designers who design and develop websites for clients, launch website advertising campaigns, and prepare other marketing material including brochures, stationery and logos in-house.
11.	Raising finance is a key long-term strategy for many international entrepreneurs following Singapore business establishment. Our staff, some of whom were formerly employed by large banks and financial institutions, offer professional guidance on corporate finance, including Singapore Stock Exchange listing.
Contact Us
The range of services we offer to international clients establishing a corporation in Singapore is broad. For further details on how we can assist, email email@healyconsultants.com or call us in Singapore at (+65) 6735 0120.
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