Foreigners are permitted to establish a company in Singapore and own 100% of its shares without encountering any difficulties. The process and procedures for company formation in Singapore are the same for both residents and non-residents (foreigners), subject to the following conditions:
- The company must assign a local company secretary.
- The company must register a local business address.
- The company must assign the resident director.
- The minimum share capital of the company is S$1 for opening the company.
As mentioned earlier, non-resident owners must appoint a resident director to register any type of Singapore company. Non-residents of Singapore may face challenges in meeting all the required documents for the resident director. Only a Singapore resident or an individual holding an Employment Pass or Entrepreneur Pass is eligible for this role. Foreigners can obtain these visas by applying to the Ministry of Manpower (MOM) for an Entrepass. After acquiring this unique visa, non-residents or foreigners can incorporate their company and officially work in Singapore, even becoming directors of their own companies. Singapore Company Formation can provide support for customers interested in setting up a Company formation in Singapore. With our ten years of experience and deep knowledge of these services, we are confident in facilitating a fast and secure company formation process, particularly for Singapore non-residents.