Name of a company: to draw up the names of foundations of several non-profit organizations, it is generally necessary to include the word "foundation", and the company ends with LIMITED; ;
B. Directors and shareholders: two Singapore directors and two shareholders are required, and passports or identity scanned copies and addresses of directors and shareholders are required;
C. Business scope: two business projects can be selected (for-profit projects cannot be selected);
D. registered address: provide the local office address in Singapore;
E. Company Secretary: A secretary with a legal license in Singapore must be appointed;
From the information required to register the Singapore Foundation, it can be found that it is generally difficult for domestic enterprises or individuals to provide shareholders, directors, office addresses and legal secretaries in Singapore, so the most common practice at present is to find an agency in Singapore to assist in the application.
Singapore Foundation Application Process
The process of applying for a foundation from our company is very simple. Since public companies in Singapore are non-profit organizations, applicants do not need to prepare registered capital. The only thing that needs to be solved is to provide registration information to prove the legitimacy of the foundation. The general application process is as follows:
1. Entrust overseas agents to submit the proposed name of the foundation to the Singapore Accounting and Commercial Control Bureau for verification to ensure that there is no duplicate name;
2. Sign the entrustment application agreement, and the agent will make relevant application documents;
3. The agent will hand over the prepared documents, such as the final beneficiary statement, articles of association of listed companies in Singapore, FORM45 director qualification statement, FORM24 shareholders' share statement, directors' shareholder status report, etc. Give it to the directors for signature, and then submit it to ACRA Singapore for review. Generally, the company registration can be found online within 2-3 working days after the audit, and the foundation registration certificate issued by ACRA can be obtained within 7- 10 working days.
4. After the processing is completed, you can start to distribute the project to the world-famous blockchain platform (like Ethereum, one of the most concerned blockchain platforms at present).
Although the application process of Singapore Foundation is relatively simple, after the foundation is registered, it is necessary to entrust a licensed secretary for annual inspection and audit every year, and the audit depends on the operation of the foundation.