License Application

License Application

Maximize success by entrusting us with your license applications. From researching specific licenses to preparing and submitting paperwork, we provide ample assistance to ensure a smooth process. With our expertise, navigating the intricate regulatory requirements becomes effortless. We save you time and effort while ensuring legal compliance, so you can focus on growing your business with confidence. 

We bring the best solutions that meets your requirements

Knowledge & Expertise

In-depth local knowledge spanning over 15 years ensures regulatory compliance & risk-minimized processes.

Proactive & Timely

We take a proactive approach in managing regulatory deadlines and tax submissions to always ensure compliance.

Customized Solutions

There is no one-size-fits-all solution. We strive to understand & address individual needs with customized solutions to help clients achieve specific goals.

Strategic Advisory Services

Beyond compliance, we provide strategic guidance to optimize business structures, reduce tax liabilities, & navigate complicated regulatory environments.

Regular Updates

Clients can expect regular updates on business environment developments & other pertinent information. Our proactive communication empowers you to make the best-informed decisions.

Quality Assurance

Clients can count on us to maintain the highest standards & meticulous attention to detail in every aspect of our work, from financial reporting to legal documents.

Accessibility & Responsiveness

Being readily available & responding promptly to queries are critical aspects of our commitment to client satisfaction.

Continual Education

Continuous training for staff ensures ongoing improvement to deliver high-quality services with integrity & professionalism.

Due Diligence Checks

Anti Money Laundering checks | Know-Your-Clients checks

In today’s fast-paced business landscape, making prompt, informed decisions are pivotal. That is why we offer comprehensive due diligence analysis to mitigate risks, ensure compliance and safeguard your interests. Our experienced professionals conduct thorough assessments and provide detailed reports to support your decision-making process. From financial transparency to regulatory compliance, we’ve got you covered. 

FAQ

Due diligence is a comprehensive investigation process to verify the accuracy of information provided, assess risks and opportunities associated with a business transaction. It ensures informed decision-making and risk mitigation in various contexts such as mergers and acquisitions, investments, or legal proceedings.

Due diligence helps to mitigates risks, verify information accuracy, identify potential issues, and enhance negotiation positions. By thoroughly assessing potential transactions, businesses can make informed decisions, enhancing the success of the business transactions.

CDD is a standard process applied to all customers to verify identities and assess associated risk. It involves basic information such as name, address, date of birth etc.

EDD is a more rigorous process triggered by factors like politically exposed persons (PEPs), high-risk jurisdictions, or unusual transaction patterns. It involves gathering additional information such as source of funds, transaction purpose, and assessing customers’ background and activities.

On-site due diligence involves physically visiting a business or property to conduct inspections and investigations, providing firsthand insights and validation of information gathered. It enables evaluators to gather accurate information, assess risk effectively and make informed decisions based on direct observations and interactions with stakeholders.

AML

AML (Anti-Money Laundering) compliance refers to the measure businesses take to detect and prevent money laundering and terrorist financing activities. It’s crucial to prevent legal and reputational risks, ensuring regulatory adherence and trust among stakeholders.

AML compliance is crucial for business as it safeguards against financial crimes, maintains trust with stakeholders, and reduces legal risks. With robust AML measures in place, business can help to detect and prevent money laundering and terrorism financing activities. This not only protect the integrity of financial transactions but also enhances regulatory compliance, thereby strengthening business reputation.

An effective AML (Anti-Money Laundering) compliance program includes robust customer due diligence, ongoing monitoring, reporting suspicious activities, employee training, and regular program reviews. Watershore ensures comprehensive adherence to AML regulations, safeguarding your business from financial crime risks efficiently and proactively.

Penalties for non-compliance with AML regulations in Singapore include financial penalties imposed by authorities like MAS, varying based on severity. Individuals may face imprisonment, and companies risk hefty fines. Businesses also risk losing essential licenses, face reputational damage, and are subject to increased scrutiny with additional audits and compliance measures.

KYC

KYC stands for “Know Your Customer,” includes identity verification, address verification, and risk assessment. These checks are essential to businesses for ensuring regulatory compliance and reducing fraud risks. By having a thorough understanding of customers’ identities and associated risks, businesses can maintain compliance, enhance security and build trust.

For Individuals:

  • Copy of Identity proof (e.g. passport or identity cards)
  • Proof of residential address, dated within last 3 months (e.g. utility bill, bank statement)
  • Additional documents depending on nature of business relationship (e.g. source of funds declaration, employment details or income information)

For corporate:

  • Certificate of Incorporation
  • Business profile or ACRA Bizfile document
  • Memorandum and Articles of Association
  • Copies of identification documents of directors, beneficial owners and authorized signatories (e.g. identity card, passport)
  • Proof of business address, to be dated within last 3 months (e.g. utility bills, lease agreement)
  • Additional documents (corporate structure charts, financial statements, details of business activities)

To comply with KYC regulations in Singapore, businesses must implement robust customer due diligence procedures, this includes:

  1. Verify customer identities
  2. Monitor transactions for suspicious activities
  3. Adhere to regulatory guidelines set by authorities like Monetary Authority of Singapore (MAS).

Generally, it takes a few days to a week for individual customers and may extend to several weeks for corporate customers due to the complexity of verifying multiple directors and beneficial owners. Timely submission of complete and accurate documentation expedites the process.

Companies should perform KYC checks at the start of the business relationship and periodically thereafter depending on the risk profile of the client. It is recommended to review and update KYC information at least once a year for low-risk clients and more frequently for higher-risk clients or when there are significant changes in their circumstances or transactions.

Using online KYC check services offers enhanced security, efficiency, and compliance. It allows businesses to verify customer identities swiftly and accurately, reducing fraud risks and ensuring regulatory adherence. With automated processes and real-time verification, businesses can streamline operations and provide a seamless customer experience.

KYC Service Provider

Using Watershore for KYC service offers several benefits:

  1. Streamlined Compliance: Outsourcing KYC processes simplifies regulatory compliance, ensuring adherence without straining internal resources.
  2. Cost Efficiency: Reduces operational costs compared to maintaining an in-house KYC team and technology infrastructure.
  3. Advanced Technology: Access to cutting-edge identity verification technologies enhances accuracy and efficiency.
  4. Risk Mitigation: Improves fraud detection and minimizes the risk of regulatory fines by maintaining rigorous compliance standards.

KYC service providers like Watershore ensure data security through robust encryption protocols, strict adherence to data protection regulations like PDPA, and secure storage practices. Regular audits and compliance check further safeguard customer information, maintaining trust and confidentiality.

We bring the best solutions that meets your requirements

Knowledge & Expertise

In-depth local knowledge spanning over 15 years ensures regulatory compliance & risk-minimized processes.

Proactive & Timely

We take a proactive approach in managing regulatory deadlines and tax submissions to always ensure compliance.

Customized Solutions

There is no one-size-fits-all solution. We strive to understand & address individual needs with customized solutions to help clients achieve specific goals.

Strategic Advisory Services

Beyond compliance, we provide strategic guidance to optimize business structures, reduce tax liabilities, & navigate complicated regulatory environments.

Regular Updates

Clients can expect regular updates on business environment developments & other pertinent information. Our proactive communication empowers you to make the best-informed decisions.

Quality Assurance

Clients can count on us to maintain the highest standards & meticulous attention to detail in every aspect of our work, from financial reporting to legal documents.

Accessibility & Responsiveness

Being readily available & responding promptly to queries are critical aspects of our commitment to client satisfaction.

Continual Education

Continuous training for staff ensures ongoing improvement to deliver high-quality services with integrity & professionalism.

Trademarks Registration

Trademarks Registration

A registered trademark is a valuable intangible asset that can significantly enhance the overall value of your business. Safeguard your intellectual property assets and maximize your brand’s value. Our experienced professionals can guide you through the registration process with confidence, ensuring that your brand is legally protected and positioned for success. 

FAQ

Registering your trademark in Singapore provides legal protection, exclusive rights to use the mark, prevents others from using it without permission, and enhances brand recognition and value. 

In Singapore, logos, brand names, slogans, symbols, sounds, and even packaging designs can be trademarked if they are distinctive and capable of distinguishing your goods or services from others. 

You may file an application with the Intellectual Property Office of Singapore (IPOS), including details of the mark, goods or services it will be used for, and paying the requisite fees. 

Common mistakes include choosing a mark that is too descriptive, failing to conduct a comprehensive trademark search, providing insufficient details in the application, and not properly classifying goods or services. 

The process usually takes about 6 to 12 months, depending on factors such as the complexity of the application and any objections or oppositions raised. 

You can file an appeal with the Intellectual Property Office of Singapore (IPOS) within the prescribed timeframe, providing arguments or amendments to address the reasons for rejection. 

Yes, we offer trademark registration services, including conducting trademark searches, preparing and filing applications, responding to objections, and guiding you through the entire process to ensure a smooth registration experience. 

We bring the best solutions that meets your requirements

Knowledge & Expertise

In-depth local knowledge spanning over 15 years ensures regulatory compliance & risk-minimized processes.

Proactive & Timely

We take a proactive approach in managing regulatory deadlines and tax submissions to always ensure compliance.

Customized Solutions

There is no one-size-fits-all solution. We strive to understand & address individual needs with customized solutions to help clients achieve specific goals.

Strategic Advisory Services

Beyond compliance, we provide strategic guidance to optimize business structures, reduce tax liabilities, & navigate complicated regulatory environments.

Regular Updates

Clients can expect regular updates on business environment developments & other pertinent information. Our proactive communication empowers you to make the best-informed decisions.

Quality Assurance

Clients can count on us to maintain the highest standards & meticulous attention to detail in every aspect of our work, from financial reporting to legal documents.

Accessibility & Responsiveness

Being readily available & responding promptly to queries are critical aspects of our commitment to client satisfaction.

Continual Education

Continuous training for staff ensures ongoing improvement to deliver high-quality services with integrity & professionalism.

Registered Office Address

Registered Office Address

Elevate your business’s presence.

Whether for business necessities or convenience, we offer corporate addresses that exude distinction and prestige, enhancing your company’s professional image. 

FAQ

A registered office address is the official address of a company registered with the government. It is where official correspondence and legal documents are sent. 

A registered office address is required by law for all companies registered in Singapore. It serves as the company’s official address for communication with government agencies and other stakeholders. 

Our registered office address is strategically located in a central business district for convenience and prestige. It provides privacy, professionalism, compliance with regulatory requirements, and administrative convenience for managing mail and documents. 

Yes, we offer mail forwarding services to ensure you receive important documents and correspondence promptly. 

A registered office address is a legal requirement, while a virtual office provides additional services such as mail handling, phone answering, and meeting room access. 

We bring the best solutions that meets your requirements

Knowledge & Expertise

In-depth local knowledge spanning over 15 years ensures regulatory compliance & risk-minimized processes.

Proactive & Timely

We take a proactive approach in managing regulatory deadlines and tax submissions to always ensure compliance.

Customized Solutions

There is no one-size-fits-all solution. We strive to understand & address individual needs with customized solutions to help clients achieve specific goals.

Strategic Advisory Services

Beyond compliance, we provide strategic guidance to optimize business structures, reduce tax liabilities, & navigate complicated regulatory environments.

Regular Updates

Clients can expect regular updates on business environment developments & other pertinent information. Our proactive communication empowers you to make the best-informed decisions.

Quality Assurance

Clients can count on us to maintain the highest standards & meticulous attention to detail in every aspect of our work, from financial reporting to legal documents.

Accessibility & Responsiveness

Being readily available & responding promptly to queries are critical aspects of our commitment to client satisfaction.

Continual Education

Continuous training for staff ensures ongoing improvement to deliver high-quality services with integrity & professionalism.

Variable Capital Companies

Variable Capital Companies

Maximize your investment potential with our expert Variable Capital Companies (VCC) setup services. Our seasoned fund administration and corporate secretarial team is ready to deliver on-the-ground support for the incorporation and ongoing maintenance of your VCC. 

Benefit from tax transparency and flexible structures adapted to your fund’s requirements, ensuring smooth integration and regulatory compliance. Trust us to manage the complexity of VCC setup with ease, allowing you to focus on maximizing your profits. 

FAQ

A Variable Capital Company (VCC) is a corporate structure in Singapore designed for investment funds, offering flexibility in capital management and distribution. 

Benefits include flexibility in capital management, segregation of assets, tax efficiency, ease of distribution, and compliance with international standards. 

VCCs can serve as an efficient vehicle for managing family wealth, providing flexibility in investment strategies, succession planning, and privacy. 

Regulatory requirements include compliance with the Variable Capital Companies Act, appointment of directors and key officeholders, and obtaining approval from the Monetary Authority of Singapore (MAS). 

VCCs in general are considered as companies which enjoy tax exemptions on certain income and gains, making them an attractive option for wealth management activities in Singapore. 

It depends on factors such as your investment objectives, asset size, regulatory requirements, and tax considerations. Consult with us to assess the suitability of a VCC for your specific circumstances.

Watershore provides comprehensive services for setting up a VCC in Singapore, including regulatory compliance, legal documentation, tax planning, and ongoing support to ensure a smooth establishment and operation. 

We bring the best solutions that meets your requirements

Knowledge & Expertise

In-depth local knowledge spanning over 15 years ensures regulatory compliance & risk-minimized processes.

Proactive & Timely

We take a proactive approach in managing regulatory deadlines and tax submissions to always ensure compliance.

Customized Solutions

There is no one-size-fits-all solution. We strive to understand & address individual needs with customized solutions to help clients achieve specific goals.

Strategic Advisory Services

Beyond compliance, we provide strategic guidance to optimize business structures, reduce tax liabilities, & navigate complicated regulatory environments.

Regular Updates

Clients can expect regular updates on business environment developments & other pertinent information. Our proactive communication empowers you to make the best-informed decisions.

Quality Assurance

Clients can count on us to maintain the highest standards & meticulous attention to detail in every aspect of our work, from financial reporting to legal documents.

Accessibility & Responsiveness

Being readily available & responding promptly to queries are critical aspects of our commitment to client satisfaction.

Continual Education

Continuous training for staff ensures ongoing improvement to deliver high-quality services with integrity & professionalism.

Corporate Secretarial Services

Corporate Secretarial Services

As regulatory requirements continue to evolve, the need for an up-to-date and effective corporate secretary still is paramount in today’s dynamic business environment. By entrusting these responsibilities to our experienced professionals, we ensure prompt filings and exact record-keeping to allow you to streamline your administrative processes and focus on your core business goals. 

FAQ

Corporate secretarial services encompass managing a company’s compliance with legal and regulatory requirements, maintaining corporate records, organizing board meetings, and handling statutory filings. They ensure adherence to governance standards, support efficient operations, and mitigate compliance risks for businesses.

Corporate secretarial services include:

  • Statutory Filings: Managing and submitting required filings to government authorities, like annual returns and updates on directors or shareholders.
  • Record Maintenance: Keeping accurate records of corporate documents, including meeting minutes and registers.
  • Meeting Organization: Coordinating and documenting board meetings and AGMs, ensuring compliance with governance standards.
  • Advisory Support: Offering guidance on corporate governance, regulatory changes, and compliance obligations.
  • Changes and Amendments: Assisting with structural changes, such as amendments to articles of association and director appointments.

Using Watershore’s corporate secretarial services provides several advantages:

  • Compliance Assurance: Ensures adherence to legal and regulatory requirements, minimizing penalties and legal issues.
  • Efficiency: Saves time by handling administrative tasks like filings and meetings, letting you focus on core operations.
  • Expert Guidance: Access to specialized knowledge on corporate governance and regulatory changes.
  • Risk Management: Mitigates risks through accurate record-keeping and timely filings.
  • Cost-effectiveness: Reduces overhead costs compared to hiring and training in-house staff.

When selecting a corporate secretarial service provider, consider our expertise, reputable track record, responsiveness, and cost-effectiveness. We tailor our services to meet your specific business needs, ensuring you receive comprehensive support and peace of mind.

Regular communication with your corporate secretarial service provider, staying informed about regulatory changes, and conducting periodic reviews of corporate governance practices can help ensure ongoing compliance.

Cost

Yes, Watershore’s corporate secretarial services are cost-effective. We provide comprehensive support tailored to your business needs, ensuring compliance and efficiency. Our transparent pricing and expert team help you save time and reduce administrative burdens, making us a smart choice for businesses seeking value and reliability.

Corporate secretarial service costs in Singapore vary, depending on the complexity of your business needs. Watershore offers competitive pricing with comprehensive packages to ensure your company remains compliant with regulatory requirements. Contact us for a personalized quote.

Compliance & Expertise

Watershore ensures ongoing compliance by staying up to date with the latest regulations and amendments in Singapore’s corporate laws. Our experienced team conducts regular reviews and audits of your company’s documentation and filings. We also provide proactive reminders for deadlines and maintain open communication, ensuring that your corporate governance remains seamless and compliant.

Watershore stands out as a premier corporate secretary service provider in Singapore due to our in-depth knowledge of local regulations and our status as an ACRA-regulated filing agent. With over 15 years of experience, our team of Chartered Secretaries is equipped to tackle complex challenges. We offer tailored services that align with your unique business objectives, ensuring high-quality support with integrity and professionalism. Continuous staff training further reinforces our commitment to excellence in corporate governance.

Watershore has over 15 years of experience in corporate secretarial services, specializing in the complexities of Singapore’s regulatory environment. Our team consists of qualified Chartered Secretaries and Chartered Accountants who have successfully supported a diverse range of businesses. We leverage our extensive expertise to deliver tailored solutions that meet clients’ unique needs, ensuring compliance and effective corporate governance.

Watershore is widely recognized for its professionalism and expertise in corporate secretarial services in Singapore. Our commitment to compliance, integrity, and tailored solutions has earned us a strong reputation among clients across various industries. With a proven track record of delivering high-quality support, we are trusted by businesses seeking reliable corporate governance.

We bring the best solutions that meets your requirements

Knowledge & Expertise

In-depth local knowledge spanning over 15 years ensures regulatory compliance & risk-minimized processes.

Proactive & Timely

We take a proactive approach in managing regulatory deadlines and tax submissions to always ensure compliance.

Customized Solutions

There is no one-size-fits-all solution. We strive to understand & address individual needs with customized solutions to help clients achieve specific goals.

Strategic Advisory Services

Beyond compliance, we provide strategic guidance to optimize business structures, reduce tax liabilities, & navigate complicated regulatory environments.

Regular Updates

Clients can expect regular updates on business environment developments & other pertinent information. Our proactive communication empowers you to make the best-informed decisions.

Quality Assurance

Clients can count on us to maintain the highest standards & meticulous attention to detail in every aspect of our work, from financial reporting to legal documents.

Accessibility & Responsiveness

Being readily available & responding promptly to queries are critical aspects of our commitment to client satisfaction.

Continual Education

Continuous training for staff ensures ongoing improvement to deliver high-quality services with integrity & professionalism.

Company Incorporation

Company Incorporation

A strong start sets the stage for success. Let us handle the hassle of incorporating your business, ensuring a seamless and legally compliant beginning. With our knowledgeable team guiding you through every step, we streamline your incorporation journey. Consider the stage ready for your business endeavours. 

FAQ

Why Singapore

There are several benefits to incorporating a company in Singapore, these include:

  • Political Stability: Singapore’s stable political climate provides a safe and conducive environment for businesses to operate and grow
  • Strong legal framework: The robust legal system offers strong protection for investors and ensures enforceability of contractual agreements.
  • Strategic location: Situated at the crossroads of Asia, Singapore provides easy access to major markets in the region, facilitating international trade and business expansion.
  • Pro-business: Singapore is known for its pro-business stance with streamlined regulations and extensive government support services aimed at fostering entrepreneurship and business development.
  • Easy access to talent: With a highly educated workforce, it is relatively easy to find skilled professionals in wealth management.
  • Favourable tax regime: The corporate tax rate is low at 17%. There are no capital gains or withholding taxes and a wide array of tax incentives and exemptions is available.

Incorporating a company in Singapore offers several tax benefits, which contribute to its attractiveness as a business destination:

Low Corporate Tax Rate: Singapore maintains a competitive corporate tax rate of 17%, which is among the lowest globally for developed economies.

Tax Exemption Scheme for New Startups: Newly incorporated companies can enjoy significant tax exemptions under the Start-Up Tax Exemption (SUTE) scheme where companies enjoy 75% exemption on the first S$100,000 of normal chargeable income for the first three consecutive years and an additional 50% exemption on the next S$100,000 of normal chargeable income.

One-Tier Tax System: Singapore operates on a one-tier corporate tax system where taxes paid by a company on its profits are not subject to further taxation when dividends are distributed to shareholders. This eliminates double taxation of corporate profits.

Absence of Capital Gains Tax: Singapore does not impose taxes on capital gains, except in certain specific cases like gains from the sale of properties held as trading assets.

No Withholding Tax on Dividends: Dividends paid by a Singapore company to its shareholders are not subject to withholding tax, irrespective of whether the shareholder is a resident or non-resident.

Extensive Double Taxation Avoidance Agreements (DTAs): Singapore has a comprehensive network of DTAs with over 80 countries, which helps to reduce the incidence of double taxation on income earned in foreign jurisdictions.

Foreign-Sourced Income Exemption: Subject to certain conditions, foreign-sourced income received in Singapore by a Singapore tax resident company may be exempt from tax, further enhancing Singapore’s attractiveness as a regional or global hub for businesses.

Business Structure

There are several types of business entities available in Singapore, each with their own advantages and disadvantages:

  • Sole Proprietorship
  • Partnership
  • Limited Liability Partnership (LLP)
  • Private Limited Company (Pte Ltd)
  • Public Company Limited by Shares
  • Subsidiary Company
  • Branch Office
  • Variable Capital Company (VCC)
  • Company Limited by Guarantee

Yes, we can provide guidance based on your specific business goals, operational needs and regulatory considerations.

Consultation and Assessment: Conduct an initial consultation to understand your business objectives, ownership preferences, liability concerns and growth plans.

Expert Advice: Based on our expertise and knowledge of Singapore’s business environment, we can provide expert advice on the various business structures available and their implications.

Structuring Recommendations: We recommend the most appropriate business structure that aligns with your goals, whether it’s a sole proprietorship, partnership, LLP, private limited company, etc.

Regulatory Compliance: We guide you through the regulatory requirements and legal considerations associated with each business structure, ensuring compliance with Singapore laws.

Implementation Support: Once a structure is chosen, Watershore can assist with the incorporation process, including preparing necessary documentation, filing with relevant authorities like ACRA (Accounting and Corporate Regulatory Authority), and setting up corporate governance frameworks.

Ongoing Support: We can also provide ongoing support with corporate secretarial services, compliance monitoring, and advice on operational matters as your business grows.

Company incorporation creates a legal entity. The incorporated company becomes a separate legal entity from its owners and managers. This allows the company to enter into contracts, own assets, and sue or be sued.  

Company registration simply registers the company with regulatory bodies. A registered company is not necessarily incorporated. Registration provides the company a business license to operate legally but the owners remain personally liable.  

At Watershore, we offer both incorporation and registration services to help you establish your business entity efficiently.

Procedures & Requirements

To incorporate a company in Singapore, you will need to prepare and file several key documents. Here are the general steps:

  1. Register the company name. Choose a unique company name at ACRA website and submit an online application. ACRA will review and approve the name if available.
  2. Registered Address. You need to provide a local Singapore address that will serve as the registered office of the company. This address will be used for official correspondence. Individuals associated with business entities must, in addition to providing a residential address, also file a contact address at which they can be reached in person or by post.
  3. Prepare the company constitution. This is a legal document that sets out the key characteristics of a company (company’s name, objectives, and share structure) and internal rules governing its operations. It stipulates the rights and obligations of its participants including its shareholders, directors and company secretaries.
  4. Appoint directors whereby at least one director who must be a Singapore resident (citizen, permanent resident, or holder of an Employment Pass/ EntrePass).
  5. Appoint a qualified company secretary within 6 months of incorporation.
  6. Designate Shareholders and paid-up capital. Declare the amount of share capital and the number of shares each shareholder will hold. At least one shareholder (can be the same person as the director) and shareholders can be individuals or corporate entities.
  7. File the incorporation documents with ACRA. Submit documents (e.g. MAA, name reservation, details of directors, shareholders, and secretary, registered office address etc) and payment of registration fees.
  8. Obtain a business registration number (UEN) from ACRA. This is a unique 9-digit number issued to your company upon approval of incorporation.
  9. Open a business bank account. You will need the UEN and other documents to open a bank account for your new company.
  10. Register for GST and CPF. GST registration with the Inland Revenue Authority of Singapore (IRAS) is applicable if your turnover exceeds S$1 million and Central Provident Fund (CPF) registration for employees.
  11. Apply for licenses and permits required for your business activities.

Requirements for appointing directors in Singapore are straightforward. Directors can be appointed either by the existing board of directors or shareholders, depending on the company’s constitution. There are no mandatory qualifications required to be appointed as a director in Singapore. However, directors are expected to act with reasonable diligence and care in carrying out their duties. They must also comply with relevant laws and regulations, disclosing any conflicts of interest.

The requirements for appointing directors in Singapore are:

  1. Residency: At least one director must be a Singapore resident (citizen, permanent resident, or holder of an Employment Pass/EntrePass).
  2. Age: At least 18 years old.
  3. Eligibility: Directors must not be disqualified under the Companies Act (e.g., undischarged bankrupt or convicted of certain offenses).
  4. Duties: Directors must act with diligence and care, comply with laws, disclose conflicts of interest, and adhere to the company’s constitution.

Yes, according to the Singapore Companies Act, every company must have at least one local resident. The local resident director is responsible for ensuring compliance with Singapore laws and regulations, including financial reporting, tax filing and other statutory obligations.

If you are a foreign entrepreneur and do not have a local resident to fulfil this requirement, Watershore can provide nominee director services. The nominee director shall not be actively involved in the management of the company beyond compliance duties.

To incorporate a company in Singapore, you will need to prepare and file several key documents:

Company Name Approval: Before incorporating, you need to reserve a name for your company. This can be done online through BizFile, the online filing system of the Accounting and Corporate Regulatory Authority (ACRA).

Company Constitution: This is a legal document that sets out the key characteristics of a company (company’s name, objectives, and share structure) and internal rules governing its operations. It stipulates the rights and obligations of its participants including its shareholders, directors and company secretaries.

Particulars of Shareholders, Directors and Company Secretary: You need to provide details of the shareholders (individuals or corporate entities) who will own the company. You must appoint at least one director who is ordinarily resident in Singapore (Singapore Citizen, Permanent Resident, or Employment Pass holder). This includes their names, nationalities, identification number, addresses, and the number of shares each will hold. You also need to appoint a qualified company secretary within six months of incorporation.

Registered Address: You need to provide a local Singapore address that will serve as the registered office of the company. This address will be used for official correspondence. For individuals associated with business entities, they must in addition to providing a residential address also file a contact address at which they can be reached in person or by post.

Incorporating a company in Singapore typically involves an instant name reservation process via ACRA’s BizFile system, followed by a 1 to 3-day incorporation period, provided all required documents are correctly prepared and submitted. Upon approval, ACRA issues a Certificate of Incorporation, marking the official start of business operations.

Watershore, a regulatory and compliance service provider, can assist companies with the following key requirements:

  1. File annual returns and financial statements.
  2. Maintain accurate financial records.
  3. Hold annual general meetings and keep minutes.
  4. Comply with tax regulations.
  5. Renew permits/licenses.
  6. Adhere to regulatory standards.
  7. Fulfil statutory obligations.
  8. Update company details as needed.

Incorporation Services

Watershore’s company incorporation services provide many advantages for businesses which include:  

  • Speed and efficiency: Watershore handles all the paperwork and administrative requirements to register your company quickly and accurately, saving you time and stress.
  • Expert knowledge: Watershore’s team consists of legal and tax experts who stay up to date on changing regulations to ensure your company complies with all requirements.
  • Support services: In addition to incorporation, Watershore offers ongoing support services like tax filing, registered agent services, and accounting to simplify business management.
  • Cost savings: Using Watershore’s services can be more cost-effective than hiring individual professionals to handle each task for your new company.
  • Peace of mind: Watershore acts as your advocate to guide you through the complex process of starting a business and ensures everything is done properly from the beginning.

Yes, Watershore can assist in appointing a nominee director (ND) for your company. However, please note that NDs shall not be actively involved in the management of the company beyond compliance duties and cannot act as the sole director actively involved in business operations.

Watershore provides an affordable and comprehensive company incorporation service in Singapore. While the company aims to provide value for money, incorporation costs vary between service providers based on the level of service and support offered. Customers should compare various options to determine the cheapest option based on their specific requirements. Watershore offers a range of incorporation packages and add-on services to suit different business needs.

We bring the best solutions that meets your requirements

Knowledge & Expertise

In-depth local knowledge spanning over 15 years ensures regulatory compliance & risk-minimized processes.

Proactive & Timely

We take a proactive approach in managing regulatory deadlines and tax submissions to always ensure compliance.

Customized Solutions

There is no one-size-fits-all solution. We strive to understand & address individual needs with customized solutions to help clients achieve specific goals.

Strategic Advisory Services

Beyond compliance, we provide strategic guidance to optimize business structures, reduce tax liabilities, & navigate complicated regulatory environments.

Regular Updates

Clients can expect regular updates on business environment developments & other pertinent information. Our proactive communication empowers you to make the best-informed decisions.

Quality Assurance

Clients can count on us to maintain the highest standards & meticulous attention to detail in every aspect of our work, from financial reporting to legal documents.

Accessibility & Responsiveness

Being readily available & responding promptly to queries are critical aspects of our commitment to client satisfaction.

Continual Education

Continuous training for staff ensures ongoing improvement to deliver high-quality services with integrity & professionalism.