In Singapore, Private Limited Companies (PTE LTD) are a common business structure with various regulations to adhere to. Here's a breakdown of key aspects:


Ownership of PTE LTD:

Directors manage the company, while shareholders invest. Depending on the type:

1. Exempt Private Company: Up to 20 members.
2. Private Company: Up to 50 members.
3. Public Company: Can have more than 50 members.


Legal Identity:

1. Independent legal entity
2. Limited liability for all members
3. Can sue or be sued in the company's name
4. Can own property in the company's name
5. Personal liabilities of members are limited


Registration Requirements:

1. At least one shareholder (individual or corporation)
2. At least one director who is a Singapore citizen, Permanent Resident (PR), Entrepass holder, or Employment Pass holder
3. No bankruptcy records


Taxation:

1. Subject to corporate income tax.


Company Updates:

1. No need for regular updates, but annual returns are required.


Closing a PTE LTD:

1. Voluntary dissolution by partners/court liquidation
2. Ceasing business operations and deregistration of the company


Pros and Cons:

Pros:
1. Perpetual existence
2. Limited liability protects personal assets
3. Statutory documents regulate shareholder rights
4. Eligible for EntrePass application
5. Professional image enhances trust with banks and clients

Cons:
1. Procedural complexities
2. Annual audit requirements


Established in 2011, Singapore Skyline Business is a comprehensive international business registration and company management service provider. As a registered and reputable business entity with the Ministry of Manpower in Singapore, we specialize in services ranging from family office establishment, GIP investment immigration, company registration, work permit applications, to later-stage PR applications. With extensive experience and professionalism, we are here to address any inquiries related to Singapore company incorporation. Feel free to reach out for a free consultation.