Shelf Company in Singapore
A shelf company is an entity that is already formed. Another name of a shelf company is a shelf corporation. This company is registered in the eyes of the law. However, there are no activities conducted by this company. A shelf company is acquired by directors who don’t want to go through the entire process of forming a company. This company is considered as a ready-made company which can be brought off the shelf.
For foreign businessmen, Singapore is a great investment destination with many possibilities for opening companies. Foreign investors can purchase an already existing company or set up a new company. The decision on whether a person should buy a shelf company or open a new company in Singapore always depends on the intention of the investor on how to use the entity. The main advantage of the shelf company is the fact that being registered. The company does not require going through the registration process.
How to acquire a shelf Company in Singapore?
Singapore is one of the largest financial hubs in the world. Therefore, it is considered as a global location for investment. Most of the companies choose to establish their headquarters’ in Singapore as it adds to the reputation of the company.
Singapore has a growing market and is considered competitive among other Asian countries. One of the popular ways to set up your business in Singapore is through acquiring a Shelf Company. Here, we will help you understand what a shelf company is and how you can acquire one.
The necessity of starting the operation of the company as soon as possible is what usually drives foreign investors to purchase a Shelf Company in Singapore. The reduced amount of time is an advantage when it comes to acquiring a shelf company in Singapore.
Another advantage of the Shelf company in Singapore is that the investor can bring various changes to the structure and name of the company. Our team of experts have detailed knowledge of the operation of a Shelf company in Singapore.
What are the advantages of the Shelf Company in Singapore?
DTAA or Double Taxation Avoidance Agreements
Singapore has entered into Double Taxation Avoidance Agreements or DTAA with respective authorities.
IPR or Intellectual property rights law
The IPR laws in Singapore are stringent. Therefore protocols are followed when it comes to IP enforcement. Hence your ideas can be protected until the period of renewal of registration.
The free trade and investment guarantee related agreements present. This facilitates the smooth functioning of the business in Singapore.
Various Government Agencies
Singapore has been successfully running its business markets and bureaucracy, through the perfect co-operation of different agencies with an objective to help the businesses market work smoothly.
What are the different government agencies help in growing business in Singapore?
Accounting and Corporate Regulatory Authority (ACRA)
The Accounting and Corporate Regulatory Authority (ACRA) regulates and oversees the following:
- Incorporation of companies;
- Regulates business entities as well as public accountants;
- Provides updates regarding new business structures; and
- Provides assistance and support in meeting different compliance requirements and ensure proper corporate governance practices.
Economic Development Board (EDB)
- The EDB or Economic Development Board is the government comprehensive investor support system which ensures a first-rate pro-business environment in Singapore.
Enterprise in Singapore
- It is the government agency dedicated to the field of enterprise development.
- It is a one-stop site for enterprises that are willing to start, sustain, and grow their businesses, and it helps the industries in guiding and also links to government information and services.
- The Shelf Company in Singapore is also known as a Readymade, or aged company, which has the status of a registered company.
- Such companies have not undertaken any trading activities.
- These companies have been kept inactive since incorporation, and none of its documents has been active on records of the Company Registrar.
- However, these companies are registered companies and are available for purchase. The operations of such companies can be started immediately.
- These companies are pre-existing which do not have any pre-existing contracts or liabilities.
- In case an investor is willing to buy and on an immediate basis, he or she can safely purchase these shelf companies.
What is the procedure of the Registration of Shelf Company in Singapore?
The process of registration of a Shelf Company in Singapore is as follows:
What is the compliance for a Shelf Company in Singapore?
According to the applicable laws of the Companies Act of Singapore, all companies incorporated in Singapore are required to hold its first Annual General Meeting or AGM either within six months from the end of its first accounting year or before the expiry of eighteen months from the date of its incorporation.
What are the necessary documents required for the Registration of Shelf Company in Singapore?
The necessary documents required for the Registration of Shelf Company in Singapore are as follows:
- Name of the new company;
- Details of the business undertaken;
- Business activities summary;
- Director details and Identity Card;
- Details of the Shareholders and there holding; and
- The registered address of the proposed company;
What information is required in case a person wishes to apply for a Shelf Company in Singapore?
The information required in case a person wish to apply for a Shelf Company in Singapore is as follows:
- All the detailed information about the new shareholder;
- The details of the new Board of Director's appointment;
- The new name of the company;
- Identity card of directors;
- Identity card of shareholders; and
- The address of the place proposed to be the registered office.
Enterslice expert team is dedicated to meet the needs of the clients and provides incorporation services for a Singapore Shelf Company. Experts at Enterslice, provide end-to-end solutions in context with incorporation/ purchase of a Shelf Company in Singapore.
Our Package Includes the Following:
- The Shelf Company shall have one shareholder with one share (or as directed);
- The paid-up capital is SGD 1(One Singapore Dollar) (or as directed);
- It shall have a registered address of Singapore;
- Introduction to the market to buy the Shelf Company;
- We can also fill in the position of the Company Secretary (if required);
- Engaging Nominee Director Service if asked for;
- To check the name search and reservation;
- Preparation of incorporation documents;
- Preparation of company’s MOA and AOA after discussing with the company executives;
- E-notice required for incorporation;
- It shall also include ACRA filing requirements;
- We will prepare the Common seal for the company;
- Minute book, statutory registers and share certificates;
- Preparation of Board resolution for the opening of a corporate bank account;
- We also provide Company Secretary services;
- Necessary changes in the bank account;
- We also assist in Transfer of company shares; and
- Any other services as required.
How can we Help?
Our team at Enterslice is a one-stop solution if you are planning to obtain a Shelf Company in Singapore. We ensure smooth implementation of your assistance and our international registration work includes the procurement of a Shelf Company in Singapore.
We follow these simple steps for the effective execution of your order with us at Enterslice:
STEP 1: Once you post your inquiry, we understand your requirement through a one on one discussion with our professionals and suggest the aptest service package offered by our company. We will look for the best possible solutions for your questions and assist you in the best possible ways. Based on the discussion, we will generate your order.
STEP 2: Once the order is created, you will be required to make the payment along with all the necessary documentation. The amount of payment will include our services fees as well as the relevant government fees.
You can make the payment through any of the following modes:
- Bank Transfer- NEFT or IMPS
- M Swipe (Credit or Debit Card)
- Paytm or Razor pay
STEP 4: Once the payment amount is completed, we will start the process of acquiring a shelf company. We will provide you with updates on the progress of the work.