What are the requirements for foreign persons to set up companies in Singapore?

Since Singapore does not allow foreign persons to register directly for a company, a professional service firm must be engaged to register on behalf of companies with non-Singapore National Registration Identity Card holders, non-Employment Pass holders and/ or non-Dependent Pass holders in the roles of director, secretary and/or shareholder.

To set up a Singaporean private company, there must be at least one shareholder, but no more than 50. The shareholder can be a natural or legal person, and foreign shareholding is allowed. Also, there is no restriction on issuance of new shares or on the transfer of existing shares to another person. There must also be at least one director and one company secretary. There is no limit to the number of directors within a private company. In a sole shareholder scenario, the sole shareholder can also be the director of such company; whilst this sole shareholder cannot be the company secretary simultaneously.

The director and the company secretary must both be Singaporean resident, which means they must fall within one of the following categories:

• A Singaporean Citizen;
• A Singaporean Permanent Resident;
• An Approval-in-Principle Employment Pass holder, or
• A person who has been issued an Entrepass, Employment Pass or Dependent Pass.