What is the minimum paid up capital for private limited companies in Singapore?

Anyone, including foreigners setting up private limited companies in Singapore are allowed the minimum paid-up capital at only S$1.00. However, some businesses in regulated industries are required to have higher minimum paid-up capital requirements. For example:

• Public accounting firm – S$50,000
• Insurance intermediary firms –S$300,000

There is another reason why private limited companies would set their minimum paid-up capital at a higher amount. With minimum paid up capital at S$500,000 or more, companies are automatically registered as members of the Singapore Business Federation (SBF). This provides access to several networking events, contacts and useful activities such as workshops and briefings.

This money can be used for business purposes without any restriction but the company’s regulation. It can be used immediately because paid-up capital has to be deposited into the company’s bank account and there is no waiting period, making it very convenient for starting private limited companies. However, if the company becomes insolvent, all the assets, including the paid up capital will be used to pay for the unpaid liabilities. The appropriate minimum paid-up capital amount should be set after taking these into consideration.