The registration of a construction company in Singapore
The construction industry is one of the most attractive industries in Singapore that has attracted many foreign investors to the city-state during the last years. According to the Singapore Companies Register statistics, company incorporations in the construction industry have raised a lot during the last years. Before applying for the professional engineering services license, the investor must register the Singapore company as a limited liability company, an unlimited company or a partnership. However, the most employed type of construction company is the limited company due to the tax exemptions in Singapore. The requirements for the registration of a construction company are:
- the Articles of Association must state that the company’s principal activity is providing professional engineering services,
- the majority of the company’s directors must professional engineers,
- the company must have an insurance against professional liability.
Also, before starting operating, approvals from the Urban Redevelopment Authority, the Singapore Civil Defense Force must be obtained.
You can also watch the video below on how to open a Singapore construction business:
Obtaining a professional engineering license in Singapore
As seen above, in order to register a construction company, the majority of the Singapore company’s management must have a professional engineering services license. In order to obtain the professional license one must submit the following documents with the Professional Engineers Board of Singapore:
- a certified copy of the company’s Articles of Association,
- a list with the company’s members and directors,
- a certified copy after the professional liability insurance policy,
- the certified copy after the company’s Certificate of Incorporation,
- a certified copy of the resolution appointing the company’s management board and the director overseeing the management of the professional engineering activities,
- copies after the documents registered by the Singapore Trade Register, the Accounting and Corporate Regulatory Authority (ACRA) regarding the company’s shareholding and management structure,
- a certified copy of the latest financial statement filed with ACRA,
- a declaration signed by all directors that all the conditions for application have been met.
The experts at OpenCompanySingapore.com helped my clients establish a company in Singapore fast and easy. I would definitely recommend them to any foreign investor interested in forming a company in this Asian jurisdiction.
Francesco Dagnino, Partner of
Lexia Avvocati www.LawyersItaly.eu