white supra - which means a Singapore citizen

Sam1lbai

Singapore Company Setup Minimum Requirements | A Business Article
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Singapore company setup is popular today for entrepreneurs because of the established economy,[link widoczny dla zalogowanych], good government and favorable corporate taxes of the country. It has become a business trend or one of the possible projects of almost every entrepreneur.
Favorable corporate tax is one of the major reasons for company incorporation in Singapore. For example is the tax advantage given to new businesses where new start-up companies pay Zero tax on the first S$100,[link widoczny dla zalogowanych], 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 Singapore company setup, you should be guided by the following minimum requirements:
1. Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary
2. Minimum initial paid-up share capital is S$1
3. Singapore Company must have a Singapore registered office address
4. Company Name: The company name must be approved by ACRA before the Singapore Company can be incorporated.
5. Shareholders: A minimum of at least one corporate or individual shareholding is required. A director and shareholder can be the same or different person. 100% local or foreign shareholding is allowed.
6. Resident Directors: Singapore Private Limited Company must have at least one director who must be an "ordinarily" resident in Singapore, which means a Singapore citizen,[link widoczny dla zalogowanych], a Singapore permanent resident or a person who holds an Employment Pass/Entrepass or a Dependants' Pass with a residential address in Singapore.
7. Company Secretary: The company secretary must be a natural person who is an "ordinarily" resident in Singapore. Singapore Companies Act requires companies to each appoint a company secretary within six month of incorporation.
8. Share Capital/Paid-up Capital: The minimum paid-up capital for registration of a Singapore company is S$1 or its equivalent in any currencies. The minimum issued capital is one share of par value. "Bearer" shares or "No par value" shares are not permitted. The Share or paid-up capital can be increased anytime after incorporation of the company.
9. Registered Address: Every company registered in Singapore is required to have a registered office address. The registered address must be a physical address and cannot be a PO Box. Use of residential address is allowed for certain types of business.
10. Memorandum and Articles of Association: Memorandum and Articles of Association must be lodged with ACRA. Memorandum specifies the activities in which the company may engage whereas the Articles of Association specifies the rules governing the internal management of the company.
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