Incorporating a company in Singapore can feel overwhelming, especially for first-time business owners. The process involves not only completing the required forms but also understanding the legal and administrative terms that will appear in official documents, government portals, and discussions with your corporate service provider.
Whether you are starting a small private limited company or planning to scale your business internationally, knowing these common incorporation terms will help you make informed decisions, avoid misunderstandings, and ensure smooth compliance with Singapore’s regulations.
Here are 20 essential company incorporation terms every business owner and entrepreneur in Singapore should know.
1. Accounting and Corporate Regulatory Authority (ACRA)
ACRA is Singapore’s national regulator for business entities, public accountants, and corporate service providers. It is the government body you interact with when registering a company, filing annual returns, or updating company information.
2. Unique Entity Number (UEN)
A UEN is a unique identification number issued to every registered business in Singapore. You will use it for all official transactions with government agencies, banks, and certain private institutions.
3. Private Limited Company (Pte Ltd)
The most common business structure in Singapore, a Private Limited Company is a separate legal entity from its owners, offering limited liability protection and potential tax benefits.
4. Company Constitution
A legal document outlining the rules for how your company will operate. It replaces the old Memorandum & Articles of Association (M&AA) and must be submitted during incorporation.
5. Paid-Up Capital
The total amount of capital that shareholders have invested in the company. In Singapore, the minimum paid-up capital for incorporation is S$1, but you can increase it later as your business grows.
6. Shareholders
Individuals or entities that own shares in your company. Shareholders have rights to vote on key decisions and to receive dividends.
7. Directors
The individuals responsible for managing the company. Singapore requires at least one director who is ordinarily resident in Singapore (Singapore Citizen, PR, or certain Employment Pass holders).
8. Company Secretary
A key officer who ensures your company complies with statutory requirements. The Company Secretary must be appointed within six months of incorporation and must be a resident of Singapore.
9. Registered Office Address
The official address where all government and legal correspondence is sent. It must be a physical address in Singapore and accessible to the public during normal business hours.
10. Business Profile
A document issued by ACRA that contains key information about your company, including registration details, shareholders, directors, and business activities.
11. Certificate of Incorporation
An official document issued by ACRA confirming that your company has been successfully registered. It contains your company name, UEN, and date of incorporation. Learn more about Certificate of Incorporation here.
12. SSIC Code (Singapore Standard Industrial Classification)
A code that classifies your business activity. You must choose the correct SSIC code during incorporation to ensure accurate licensing and regulatory compliance.
13. Annual Return
A mandatory filing with ACRA that provides updated information about your company, including financial statements and shareholder details. Private limited companies must file annually.
14. Annual General Meeting (AGM)
A yearly meeting where shareholders receive updates on the company’s performance, approve financial statements, and make key decisions. Some companies can choose to dispense with AGMs if certain conditions are met.
15. Nominee Director
A nominee director is an individual appointed to satisfy Singapore’s local resident director requirement, often engaged through a corporate service provider when foreign owners incorporate in Singapore.
16. Share Capital
The total value of shares issued by the company. It can be increased after incorporation to bring in more funds or investors.
17. Share Transfer
The process of transferring ownership of shares from one shareholder to another. It must be recorded and filed with ACRA.
18. Company Limited by Shares
The most common legal structure in Singapore, where shareholders’ liability is limited to the amount they have invested in shares.
19. XBRL Filing
XBRL Filing is an ACRA requirement for certain companies to file financial statements in the eXtensible Business Reporting Language (XBRL) format for better standardisation and analysis.
20. Corporate Service Provider (CSP)
A licensed firm that assists with company incorporation, compliance, and corporate secretarial duties. Working with a CSP such as Margin Wheeler ensures you meet all legal requirements efficiently.
Register Your Business in Singapore with Margin Wheeler!
Familiarising yourself with these 20 incorporation terms will make the process of starting and managing a company in Singapore much smoother. From understanding your obligations under ACRA to knowing the difference between share capital and paid-up capital, these terms form the foundation of responsible business ownership.
If you’re ready to incorporate your company in Singapore, Margin Wheeler can guide you through every step—from choosing the right structure to ensuring all compliance requirements are met. Get in touch with us today!
