Asiabizsetup Answers: What Does PTE In Singapore Company Means?
Protecting shareholders from possible financial accountability of a corporate is the private
limited company, designed to limit the liability of its officers and members to the unpaid
company shares they maintained.
The company shares, when paid in full, shall free a shareholder from further accountability.
Also, its ownership is established by the portion of shares acquired by a shareholder.
“A private company, when successfully registered, is regarded the way a legal and natural
person is by laws. Its name is used to transact legal matters like a procurement of properties
and assets and incurrence of revenues, losses, and liabilities,” states Asiabizsetup, from a
perspective of a Singaporean business consultant.
“Should liability becomes imminent, the company itself can be named as a respondent in a
lawsuit. In turn, it can sue anyone or any company,” she adds, “foremost, the sale of
ownership is restricted to the public.”
Clearly expressed on its Articles of Association are the restrictions of sale of company shares.
Formulated in such a manner that prevents hostile takeover attempt, the restrictions places
upon the shareholders, obliging them to offer the sale of shares first to their fellow member or
shareholders, whose personality may either be a natural person or a corporate body.
“They are prohibited from offering their shares to the public over a stock-exchange as well,”
adds Asiabizsetup, pointing out that even the number of owners are limited to fifty.
Running the affairs of the private limited company and acting as its head is the resident
director whose qualifications include not being a bankrupt and guilty of malpractice, of legal
age, and maintaining an ordinary residence in Singapore.
An Employment pass may suffice to allow a foreign individual to occupy the coveted position
of a resident director, who could also be the principal investor himself or herself or his or her
family through a Dependant pass. However, in case the foreign investor does not seek for
relocation, a nominee director shall take that position. In Singapore, even one director [in this
case, must be the resident] together with one shareholder and one company secretary can
form a private limited company.
Mandatory to a private limited company is the compliance of annual requirements such as
filing an annual return to ACRA and IRAS, filing and payment of taxes, auditing requirement,
and preparation of financial statement to be produced before the board during the Annual
General Meeting and to be lodged with ACRA after the meeting.
Asiabiz Setup offers professional services to foreign investors starting from registration of a
company, to assisting in continual compliance with requirements. Its specializations
encompass accounting and bookkeeping, payroll preparation, handling of labor pass
application, and rendering nominee services particularly director, shareholder, and agent.
About the Publisher:
For many years, Asiabizsetup has served the community by taking charge of Singapore
company incorporation, Singapore company registration and processing the necessary
working visas of entrepreneurs or employees, and providing services such as accounting,
secretarial and statutory compliance with certain requirements.
AsiaBiz is a company that provides Singapore company setup services to local and
foreign entrepreneurs and investors and offer consultation regarding the immigration and
taxation law, Singapore accounting services, book keeping requirements, and other
compliance matters stated under the Singapore law. The company has successfully
helped thousands of both local and foreign entrepreneurs form a Singapore company.
Our phones are answered during business hours by specialists and not by an answering
machine. We appreciate the value of your time and understand that a person cannot be
replaced by technology. This is especially true when it comes to making important
For more information visit:
AsiaBizSetup PTE LTD
address: 120 Telok Ayer Street Singapore 068589
phone: (65) 62426533