9

days to open your Singapore bank account

Why choose Futurebooks…

Same day incorporation – no travel to Singapore required
Swift electronic documentation and e-signatures – no courier or notary required
Startup expertise – 10 million shares with $1000 paid up capital, etc.

What you need to know about Singapore company incorporation

There are three options for a startup founder can take.

Option 1: For companies with no plans of external fundings or employee share option plan, a minimum number of shares can be issued at the time of incorporation, e.g. 100 or 1,000.

Option 2: For companies with plans to raise funds or to set up employee share option plan, it is ideal to issue a higher number of shares at the time of incorporation. A good figure for this would be 1,000,000 or 10,000,000.

Option 3: For companies with the established capitalization table (cap table), the company must follow the number of shares as declared on the cap table.

While the statutory minimum requirement for a company’s paid-up share capital is 1 for every currency, it is strongly recommended that entrepreneurs put in a higher amount of share capital when incorporating their business, especially for situations wherein the company has a prescribed minimum capital.

Paid-up share capital can be used as a working capital of the company.

If the company’s main operation is in Singapore, and business is not expecting any capital injections or funding coming from overseas, it is recommended to declare the paid-up share capital in Singapore Dollars, the local currency. For startups who are expecting funds from overseas at the time of incorporation or in the foreseeable future, then they can declare the currency as the same as that of the fund’s source country.

Yes, Singapore allows the electronic signature as per the Electronic Transactions Act of Singapore. These electronic records are valid and enforceable by law in Singapore as long as every document has an audit trail of which the authenticity can be verified.

Yes, Singapore registered companies are allowed to have 100% foreign ownership.

READ MORE: Defining shares and paid-up capital

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Our services All-in Fees (USD) Timeline
Bare Incorporation Package 

  • Company name reservation
  • Model constitution
  • ACRA registration
  • Issuance of Share Certificates
  • Digital Certificate of Incorporation with Unique Entity Number
  • Self-inked company stamp
  • Inclusive of all government fees
890
one-time
1 day
The Essentials
Company Secretary

  • Named Company Secretary for the first year
  • Annual Return
890

per year

Registered Office Address*

  • Mail scanning
  • Cheque deposit

* Registered office address must be specified at the time of incorporation

590
per year
Local Director

  • One local resident director required for Singapore company incorporation
Starts at 3490
per year
Add-Ons
Bank Account Opening

  • With any of the top 3 Singapore banks
  • Guaranteed bank account opening
890
one-time
10 days
after incorporation
Work Pass

  • Employment Pass (EP) / EntrePass for Founders
  • Inclusive of appeals and government fees
1,390
one-time
30 to 60 days
processing time
Monthly Bookkeeping

  • Bank reconciliation
  • Monthly management reports
890
per month


Know more about our Singapore company incorporation services. Schedule a call now.

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Read more from our expert articles: Incorporation & Company secretarial, Corporate Immigration, Startups