In the process of registering a company in Singapore, determining the directors, shareholders, and company secretary is a crucial aspect. Who should hold these roles, what are their primary responsibilities, and how does Singapore company law specifically regulate them?
1. Company Directors
1)Directors of a Singapore company must be natural persons above 18 years of age.
2)The board of directors can consist of one or more members, but it must include at least one local director (Singapore Permanent Resident, Singapore Citizen, holder of Singapore EntrePass, or Self-Employed Pass).
3)Directors are primarily responsible for managing the company.
4)S Pass and Work Permit holders are not eligible to be company directors.
5)Can an Employment Pass (EP) holder be a company director? For details, check here.
6)Can a Dependant Pass (DP) holder be a company director? Find out here
2. Company Shareholders
1)There are no restrictions on the composition of shareholders in a Singapore company; they can be natural persons or companies.
2)Singapore law imposes no limits on the shareholding percentage for foreigners or foreign companies in Singapore companies.
3)Natural person shareholders can also serve as company directors.
4)S Pass and Work Permit holders are not eligible to be company shareholders.
5)Can an Employment Pass (EP) holder be a company shareholder? For details, check here.
6.)Can a Dependant Pass (DP) holder be a company shareholder? Find out here.
3. Company Secretary
1) A Singapore company must appoint at least one Singapore resident (Singapore Permanent Resident, Singapore Citizen, or holder of a Singapore Work Permit) as its company secretary.
2) If a company has only one director, that director cannot simultaneously hold the position of company secretary.
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