Singapore Company Setup: The $5,000 Director Mistake
Published May 7, 2026 · 0:38 · 5 views
Key takeaways
- Most founders setting up a Singapore company forget this [music] and pay $5,000 in penalties.
- Singapore law requires one director who's ordinarily [music] resident there.
- That means a citizen, permanent resident, or entre pass holder.
- If you're remote, you must hire a nominee director.
Summary
Setting up a company in Singapore requires one director ordinarily resident in Singapore (citizen, PR, or EntrePass holder), or you face $5,000 penalties within 6 months. • Nominee director services cost $1,200,$2,400/year if you're remote • 99% of foreign founders pick Pte Ltd structure for liability cap and tax breaks • Missing the company secretary appointment (due within 6 months) triggers $2,000 fines → Bastion Formations: https://bastionformations.com #SingaporeCompany #SetupCompanySingapore #SingaporePteLtd #SingaporeStartup #BastionFormations
Full transcript
Auto-generated transcript. Watch the video for the full context and visuals.
Most founders setting up a Singapore company forget this [music] and pay $5,000 in penalties. Singapore law requires one director who's ordinarily [music] resident there. That means a citizen, permanent resident, or entre pass holder. If you're remote, you must hire a nominee director.
Skipping this tanks your company within 6 months. The replacement costs [music] $1,200 to $2,400 per year. Budget for it up front or scramble later. Like this if it helped.
Subscribe [music] for more and visit FastTrack Formations for the full guide.
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