BUSINESS
Corporation incorporation
A corporation in Singapore is referred to as a Public Company. It is a legal entity separate from its shareholders. To incorporate a public company in Singapore, the requirements are significantly more stringent than for a private limited company (LLC). Therefore, most foreign investors who wish to do business in Singapore typically choose a private limited company structure, as it has simpler setup and operational requirements.
Key conditions for setting up a public company
Minimum share capital
A public company must have a minimum issued share capital of SGD100,000.
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Public offer of shares
A public company must offer its shares to the public, which involves complying with strict listing requirements.
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Continuous disclosure obligations
Public companies are subject to ongoing disclosure requirements, such as publishing financial statements and announcements.
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Board of directors
A public company must have at least three directors, including at least one resident director.
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Company secretary
A public company must appoint a company secretary who is a Singapore resident.
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Auditing
Public companies are required to appoint an external auditor to conduct annual audits.
The process of setting up a public company involves:
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Complying with stringent regulatory requirements.
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Preparing extensive documentation.
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Obtaining necessary approvals from regulatory authorities.
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Undergoing a public listing process.
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