{"id":54533,"date":"2020-10-28T15:18:48","date_gmt":"2020-10-28T07:18:48","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/?p=54533"},"modified":"2026-06-19T15:02:12","modified_gmt":"2026-06-19T07:02:12","slug":"post-incorporation-requirements-for-regulations","status":"publish","type":"post","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/blog\/post-incorporation-requirements-for-regulations\/","title":{"rendered":"Post-incorporation Requirements for Regulations"},"content":{"rendered":"<div class=\"wpb-content-wrapper\" id=\"wpb-content-root\"><p>[vc_row][vc_column][vc_column_text css=&#8221;&#8221;]<\/p>\n<h2>About Post-incorporation Requirements<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54534 alignright\" title=\"Post-incorporation Requirements for Regulations\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/10\/photo-post-incorporation-requirements-for-regulations-400x300-1.jpg\" alt=\"Post-incorporation Requirements for Regulations\" width=\"400\" height=\"300\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/10\/photo-post-incorporation-requirements-for-regulations-400x300-1.jpg 400w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/10\/photo-post-incorporation-requirements-for-regulations-400x300-1-300x225.jpg 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\">Post-incorporation requirements cover the mandatory legal, financial, and administrative steps every newly registered company must complete to legally commence operations and maintain good standing with regulatory authorities after company incorporation.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\">Immediate priorities within the first 30 to 60 days include convening the first board meeting, appointing an auditor, <a title=\"Singapore Corporate Bank Account Opening Service\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/services\/company-setup\/guide-for-opening-corporate-bank-account\/\"><strong>opening a corporate bank account<\/strong><\/a>, and issuing share certificates to subscribers. Operational setup involves maintaining statutory registers, securing director disclosures, and obtaining business licenses relevant to your location and industry.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\">Ongoing obligations require holding annual general meetings, filing audited financial statements and annual returns, and submitting event-based filings whenever directors, capital structure, or registered office details change.<\/p>\n<p>&nbsp;<\/p>\n<h3>The First Board Meeting<\/h3>\n<p>During the early stages of your new company, there must be a first board meeting, and your directors should hold or pass the first resolution related to organizing the company. It must include:<\/p>\n<ul>\n<li>Adopting the company Constitution that rules over the internal operations<\/li>\n<li>Using a company seal<\/li>\n<li>Authorization of issuing shares and other kinds of securities<\/li>\n<li>Choosing officers<\/li>\n<li>Confirm the company\u2019s registered address<\/li>\n<li>Confirm when the first financial year ends<\/li>\n<li>Choosing an auditor, if necessary<\/li>\n<li>Making arrangements with your bank<\/li>\n<li>Taking care of other business needs<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>Open a Bank Account for the Company<\/h3>\n<p>Singapore is the world\u2019s leading financial centre, and it also thrives while serving Asia Pacific regions. The financial centres of Singapore offer a wide range of <a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/services\/\">financial services<\/a>, including insurance, banking, treasury services, and investment banking. You will likely have to open a local bank account to conduct a Singapore business. There are stable international banks you can choose from in Singapore.<\/p>\n<p>For you to be able to open a corporate bank account, the bank will ask for the company constitution, board resolution that sanctions the bank account opening, and identity proof from the company beneficiaries. Most banks will ask for the account signatories to be physically present, and most directors will be present when the bank account opens.<\/p>\n<p>&nbsp;<\/p>\n<h3>Get a Company Seal<\/h3>\n<p>The company could have a seal when sealing important and official documents. This is normally called a \u201ccompany seal\u201d. These are metallic and free of ink, leaving an embossed impression of your company and registration number. Some official documents include share certificates and loan documents. The Seal must be kept under the company secretary\u2019s control and should be authorized by the board before being used. The documents that the seal is affixed must normally be countersigned by at least one director and the secretary or two directors.<\/p>\n<p>&nbsp;<\/p>\n<h3>Issue the Share Certificates<\/h3>\n<p>The Share Certificate is a document certifying the ownership of a certain number of shares in one company. <a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/incorporation\/guide-to-select-your-singapore-company-names\/\">Singapore companies<\/a> are obliged to issue this certificate to all shareholders. The issuance of these certificates must have a company seal and be signed by at least one director and the secretary or two directors.<\/p>\n<p>Share certificates must be in the possession of each shareholder and a reissuance must occur once the shares are split, transferred, classified, or consolidated.<\/p>\n<p>&nbsp;<\/p>\n<h3>Appoint a Chief Executive Officer (CEO)<\/h3>\n<p>A company could appoint a CEO. It is a person mainly responsible for managing and conducting the business. If there is a person or persons as the CEO or any changes in the CEO\u2019s particulars, the company should inform ACRA within 14 days of the change or appointment.<\/p>\n<p>&nbsp;<\/p>\n<h3>Set Up the Statutory Books<\/h3>\n<p>Statutory books are the company\u2019s legal records in their Singapore office. Since it is a public document, it can be requested anytime. These books must have current records all the time. The statutory books contain:<\/p>\n<ul>\n<li>Statutory books contain current information about corporate officers like auditors, directors, and secretaries. This information contains appointments and resignations.<\/li>\n<li>The shareholders\u2019 names, how many shares each one owns, and details of share transfers, if there are any.<\/li>\n<li>Information regarding the floating or fixed charges and debentures for securing what the company borrows.<\/li>\n<li>Resolutions and minutes of the meetings.<\/li>\n<\/ul>\n<p>The company secretary is responsible for creating and maintaining the company\u2019s statutory books.<\/p>\n<p>&nbsp;<\/p>\n<h3>Appoint an Auditor<\/h3>\n<p>Dormant Singapore companies do not have to appoint an auditor if they can satisfy at least 2 of the following conditions:<\/p>\n<ul>\n<li>The total company revenue must not be more than S$10 million.<\/li>\n<li>The company\u2019s total assets for the financial year must not exceed S$10 million.<\/li>\n<li>Their full-time employees must not exceed 50 when the financial year ends.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>Get a Business Insurance<\/h3>\n<p>You must get general liability insurance, compensation insurance for your workers, and other business-specific insurance that applies to you. An insurance broker can help you with this. The insurance must expand while the business grows. A corporate service provider can help you find a reliable insurance broker.<\/p>\n<p>&nbsp;<\/p>\n<h3>Financial Year End (FYE)<\/h3>\n<p>All companies should have an FYE as soon as they incorporate it, and it is at their discretion to choose when their FYE is. The company\u2019s financial year duration cannot exceed 18 months during the year of incorporation.<\/p>\n<p>If they change the FYE after incorporation, only the current FYE and previous financial year can have this change. This is possible as long as the statutory deadlines for the <a title=\"What is an AGM - ACRA\" href=\"https:\/\/www.acra.gov.sg\/how-to-guides\/annual-general-meetings\/what-is-an-agm#:~:text=An%20annual%20general%20meeting%20(AGM,)%20to%20shareholders%20(members).&amp;text=All%20companies%20in%20Singapore%20are,company&#039;s%20Annual%20Return%20on%20BizFile%2B.\" target=\"_blank\" rel=\"noopener noreferrer\">AGM<\/a>, annual return filing, and sending of financial statements have not occurred. Otherwise, the company should apply at ACRA to approve the change.<\/p>\n<p>If the change leads to an FYE that is more than 18 months, or if, within 5 years, the FYE was changed, it will be approved.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54536 aligncenter\" title=\"Post-incorporation Requirements for Regulations\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/10\/photo-post-incorporation-requirements-for-regulations-700x445-1.jpg\" alt=\"Post-incorporation Requirements for Regulations\" width=\"700\" height=\"445\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/10\/photo-post-incorporation-requirements-for-regulations-700x445-1.jpg 700w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/10\/photo-post-incorporation-requirements-for-regulations-700x445-1-300x191.jpg 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p>&nbsp;<\/p>\n<h3>An Accounting System Must Be Set Up<\/h3>\n<p>Keeping track of your business\u2019 income and expenses is important, and it should start from the day you start operating. It helps you monitor your business profitability and tax regulations in many countries, requiring an accurate record of your company\u2019s transactions. Using an accounting system software can help you manage this function. Setting up an accounting system is something that you must not procrastinate on. When choosing accounting software, you must consult an accounting executive because most need training and prior knowledge. This significantly reduces the learning time.<\/p>\n<p>&nbsp;<\/p>\n<h3>Have a Registered Address<\/h3>\n<p>A company should have a registered office in Singapore, which must be accessible and operational during normal office hours. If your registration changes, you should notify ACRA within 14 days of the date change.<\/p>\n<p>You must fulfil These post-incorporation requirements before your company can start operating. You can contact a <a title=\"Singapore Company Incorporation Services Package\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/services\/company-setup\/singapore-company-incorporation-services\/\">Singapore incorporation service provider<\/a> like 3E Accounting because they are experts, and you will get their best assistance.[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_title=&#8221;Author Card&#8221;][vc_column][vc_row_inner css=&#8221;.vc_custom_1730870221717{background-color: #126742 !important;border-radius: 5px !important;border-color: #EEEEEE !important;}&#8221;][vc_column_inner][vc_column_text css=&#8221;&#8221;]<\/p>\n<div style=\"width: 100%; text-align: left; padding: 9px; border-radius: 24px; background: transparent;\"><!-- Author Box --><\/p>\n<div style=\"display: flex; align-items: center; margin-bottom: 0px; width: 100%;\">\n<p><img decoding=\"async\" style=\"width: 96px; height: 96px; border-radius: 50%; flex-shrink: 0; margin-right: 15px; border: 2px solid #ffffff;\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2024\/04\/Abigail-Yu.png\" alt=\"Abigail Yu\" \/><\/p>\n<div style=\"flex: 1;\">\n<p style=\"margin: 0; font-size: 32px; font-weight: bold; color: #ffffff;\">Abigail Yu<\/p>\n<p style=\"margin: 0px 0; font-size: 14px; color: #ffffff;\">Author<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p style=\"color: white; text-align: left;\">Abigail Yu oversees executive leadership at 3E Accounting Group, leading operations, IT solutions, public relations, and digital marketing to drive business success. She holds an honors degree in Communication and New Media from the National University of Singapore and is highly skilled in crisis management, financial communication, and corporate communications.<\/p>\n<p>[\/vc_column_text][vc_btn title=&#8221;Connect Now&#8221; style=&#8221;flat&#8221; color=&#8221;white&#8221; align=&#8221;left&#8221; css=&#8221;.vc_custom_1761909145069{padding-bottom: 20px !important;}&#8221; link=&#8221;url:https%3A%2F%2Fwww.linkedin.com%2Fin%2Fabigail-yu%2F&#8221;][\/vc_column_inner][\/vc_row_inner][vc_empty_space][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text css=&#8221;&#8221;] About Post-incorporation Requirements Post-incorporation requirements cover the mandatory legal, financial, and administrative steps every newly registered company must complete to legally commence operations and maintain good standing with regulatory authorities after company incorporation. Immediate priorities within the first 30 to 60 days include convening the first board meeting, appointing an auditor, opening a&hellip;<\/p>\n","protected":false},"author":57,"featured_media":54534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-54533","post","type-post","status-publish","format-standard","has-post-thumbnail","category-blog","category-15","description-off"],"_links":{"self":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/posts\/54533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/comments?post=54533"}],"version-history":[{"count":3,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/posts\/54533\/revisions"}],"predecessor-version":[{"id":106602,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/posts\/54533\/revisions\/106602"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/media\/54534"}],"wp:attachment":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/media?parent=54533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/categories?post=54533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/tags?post=54533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}