Yes, a non-resident can own a company in Singapore. The city-state’s business-friendly environment encourages foreign investment, and there are no restrictions on foreign individuals or entities owning a Singaporean company. Non-residents can own 100% of the shares in a Singaporean company. However, there are certain compliance requirements to be met:
- Local Director: While non-residents can fully own a Singapore company, the company must appoint at least one local resident director. A resident director can be a Singapore Citizen, a Permanent Resident, or an individual with an EntrePass or Employment Pass.
- Company Secretary: The company must appoint a company secretary who is a resident of Singapore within six months of incorporation.
- Registered Office Address: The company must have a registered physical office address in Singapore.
These requirements are designed to ensure that while the business may be foreign-owned, it has a substantial connection to Singapore through its operations and management.