All entities registered in Singapore are required to have at least one local director and one corporate secretary, and can have up to 50 shareholders, who can be corporates or natural persons.
Once you have submitted your application to incorporate a local company, all proposed company directors and the company secretary must endorse their appointments via BizFile+. It should be noted that foreigners are not permitted to own accounts on BizFile, and therefore must register their company and be appointed through a licensed secretary agent.
Furthermore, unless exempted, your company is required to hold an annual general meeting (AGM). These meetings serve as a means of ensuring that stakeholders of your company are kept informed about the company’s financial position and direction, as well as providing a platform for stakeholders and company officers to engage with each other at least once annually.
Foreigners will have to engage the services of a registered filing agent (e.g. law firm, accounting firm or corporate secretarial firm) to submit the online application on their behalf, except EntrePass holders.
To incorporate a company in Singapore, it is a requirement to have at least one local resident director. In the event that you are a foreigner without a local partner, a nominee director may be necessary to assist in establishing the company.