Corporate Information

A partnership is a business owned by 2 to 20 partners.

The legal status of a partnership can be defined as follows:

• • It is not a separate legal entity from the business owners
  • The partners are personally liable for all the debts and losses of the partnership.
  • It can sue or be sued in the partners’ names

Procedure for Setting up a Partnership

Fill in our formation form and provide us with the following information and documentation:-

• • Proposed business name of the partnership;
  • Date of commencement of business;
  • Business activity code;
  • NRIC / Fin Number of owners/managers/partners;
  • Detailed business address of the proposed business;
  • Email address and mobile number;
  • Self-employed Medisave contributions must be up-to-date.

Premia TNC will fill up the registration form online and the name approval fee will be paid together with the e-submission.

The partnership can only be registered after all the partners have endorsed (or consented) to the submission of the online transaction and after the registration fee is paid (normally within 3 working days). After the endorsement, the registration number will be given by the Accounting and Corporate Regulatory Authority (“ACRA”).

Additional note:

From 1 January 1994, all self-employed persons are required to top up their Medisave account with the CPF Board before they register a partnership, become the new partner of an existing partnership, or renew their business registration. This requirement is only applicable to Singapore Citizens and Singapore Permanent Residents.

A local company is a business entity incorporated in Singapore. Companies have different setups and are distinguished by the company type e.g. private company limited by shares, an exempt private company, a public company limited by shares and a public company limited by guarantee.

The legal status of a local company can be defined as follows:

• • It is a separate legal entity from the business owners
  • It can sue or be sued in its own name

Procedure for Setting up a Local Company

Fill in our formation form and provide us with the following information and documentation:-

• • Proposed business name of the company
  • Description of the business activity
  • Passport copy and latest address proof of the directors and shareholders
  • Email address and contact number of the directors and shareholder

Company name reservation

• • Every business requires a name to differentiate itself and make it easy for others to find the business.
  • The first step is to choose a suitable name and submit a name application.

Registration

• • Once the name application is approved, incorporation of the company may proceed.
  • Submission of company information including particulars of directors and shareholders, and  the registered office address to the Singapore Registrar of Companies (ACRA).
  • The company will be incorporated ine ACRA has approved.

Post Registration

You may expect the following documents to be received after the company is duly incorporated:-

• • Business Profile – with the company structural details
  • Constitution – consists of Memorandum and Article of Association 
  • Certificate of Incorporation

Additional note:

The company can only open a bank account after it is incorporated. We will arrange the bank meeting based on your preferred schedule and will join the meeting in case assistance is required.

A foreign company is a company, corporation, association or any other body incorporated outside Singapore.

A foreign company may carry on business in Singapore by incorporating a local company or registering as a foreign branch under the Companies Act. The foreign branch is required to have a registered name, at least 1 local authorized representative and a registered office address in Singapore.

The legal status of a foreign company can be defined as follows:

• • It is not a separate legal entity from the business owners
  • It does not have a distinct legal personality. In other words, its liabilities may be enforced against the assets of the foreign company.

Procedure for Setting up a Foreign Company (Branch)

Fill in our formation form and provide us with the following information and documentation:-

• • Business name of the branch must be the same as its holding company;
  • Description of the business activity;
  • Passport copy and latest address proof of all directors from the holding company;
  • Email address and contact number of the directors.

Company name reservation

Check the availability of the company name and submit a name application

Registration

• Once the name application is approved, incorporation of the company may proceed.
• Submission of company information including particulars of directors and shareholders, and the registered office address to the Singapore Registrar of Companies (ACRA).
• The company will be incorporated once ACRA has approved.

Post Registration

You may expect the following documents to be received after the company is duly incorporated:-

• Business Profile – with the company structural details
• Certificate of Incorporation

Additional note:

The branch can only open a bank account after the branch is incorporated. We will arrange the bank meeting based on your preferred schedule and will join the meeting in case assistance is required.

The branch must prepare an audited report together with the holding company’s financial report for annual submission purposes.

A Representative Office in Singapore is meant for promotional activities only and it cannot enter into any business transactions either in its own capacity or on behalf of the parent company. The approving authority for registering a Representative Office is Enterprise Singapore.

Procedure for Setting up a Representative Office (“RO”)

Fill in our formation form and provide us with the following information and documentation:-

• • A copy of the parent company’s Certificate of Incorporation (in English or an official translation)
  • The parent company’s latest annual report and audited accounts
  • Passport copy and latest address proof of all directors from the holding company

Additional note:

Approval can take 1 to 2 weeks and will usually be valid for one year. A representative office in Singapore must re-apply for a continuation of its status after the expory of the initial period of approval. A representative office can be renewed for a total of not more than 3 years. After the registration of a representative offive, the foreign company can apply for an employement pass for their overseas personnel who will be relocating to Singapore.