Private Limited Company is the most preferred business structure in Singapore. This business entity is unique because it has a separate legal status firm its shareholders and directors who have limited liabilities for debts and losses of the company. It has the right to own property. It is popularly known as corporation that has the words Pte Ltd as part of its name.

With this, Rikvin, an expert in company incorporation made sure that they are able to accommodate entrepreneurs who would like to be assisted with the formation of a Singapore Private Limited Company.

Below are the common features, requirements and considerations in forming a Singapore Private Limited Company:

Features:
A legal entity separate and distinct from its shareholders and directors
It can sue or be sued in its own name
A minimum of 1 and a maximum of 50 shareholders
A subsidiary company, with at least one individual shareholder with minimum of 10 percent shareholding, is entitled to local tax and development incentives
Minimum Requirements:
Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary
Minimum initial paid-up capital is S$1
A Singapore registered office address
A unique company name
A minimum of at least one corporate or individual shareholding is required
Singapore Private Limited Company must have at least one director who must be an "ordinarily" resident in Singapore
The company secretary must be a natural person who is an "ordinarily" resident in Singapore
The minimum paid-up capital for registration of a Singapore company is S$1 or its equivalent in any currencies.
Every company registered in Singapore is required to have a registered office address.
Memorandum and Articles of Association must be lodged with ACRA
Tax:

Singapore Private Limited Company is considered a tax resident; it is therefore eligible for tax exemptions. New startup companies pay Zero tax on the first S$100,000 of chargeable income for the first three consecutive years. A further 50% exemption is given on the next S$200,000 of the chargeable income.

For entrepreneurs who would like immediate assistance on formation of Private Limited Company, you can follow the simple procedures below:
Engage Rikvin to assist you with the incorporation of your company with ACRA.
Go to Services and Fees and order an incorporation package.
You can also drop in at our office and we can help you register with ACRA in less than hour. Please see Checklist for documents required for incorporation of a company.