Yes, foreigners can be shareholders in Singapore. Singapore has a robust and business-friendly environment that encourages foreign investments. The country welcomes foreign shareholders and provides opportunities for them to participate in its vibrant economy.
Foreigners can own 100% of a Singapore company, known as a private limited company or a limited liability company. They can hold shares in a Singapore company and benefit from its profits and growth. Singapore does not impose any restrictions on the nationality or residency of shareholders in a company.
To become a shareholder in a Singapore company, a foreigner must adhere to the following requirements:
- Appoint a local director: At least one company director must be ordinarily resident in Singapore. This means either a Singapore citizen, a permanent resident, or an employment pass holder.
- Engage a professional firm: Foreigners who do not have a local director can engage a professional firm to provide nominee director services to fulfill the requirement. The nominee director acts as a resident director but is not involved in the company’s day-to-day operations.
- Comply with regulatory requirements: Foreign shareholders must comply with the regulatory requirements set by the Accounting and Corporate Regulatory Authority (ACRA) and other relevant government agencies. This includes submitting necessary documents, maintaining proper records, and fulfilling annual filing obligations.
It is worth noting that while foreigners can be shareholders, they must ensure compliance with the laws and regulations of Singapore and fulfill any necessary reporting and filing obligations. Please contact us at Singapore Company Formation for professional consultation when establishing a company and becoming a foreign shareholder in Singapore.