Frequently Asked Questions
General Questions
At Lionsworld, we do not charge GST or service charge. All prices that you see on our website are in NETT.
Yes, all our packages are available for online sign-ups.
Currently, the only form of digital signature legally recognized in Singapore is your SingPass.
Â
Unfortunately, as SingPass is used exclusively for government operations, private companies are currently unable to utilize SingPass for their own functions.
Â
In order to ensure that a document is to be recognized and binding via a signature, one must still provide an original, hard copy signature of the document.
Certain documents, such as incorporation documents, change in directorship and shareholding of a company, must even be notarized and/or properly witnessed in order to ensure that the signature is original and to ensure that the person signing the document meets the legal requirements of identity.
Registered
Business Address
A registered office address refers to the place where all communications and notices to the company are addressed to, and the place where the company’s register and records are kept. That’s why our virtual office package comes with mail handling service!
A confimration email will be sent out to the email you have provided us, after payment have been made. Upon receiving the email, you are now able to use our registered business address for your company.
In Singapore, it is a requirement for companies to have a registered office address when you register a company with the Accounting and Corporate Regulatory Authority (ACRA). The registered office address can be used on your company business cards, letterheads or any other official documents.
The address must be:
- Official address of the company
- Approved for commercial use and is not a PO Box
- All communications, letters and legal documents once proved delivered to this address are deemed to be delivered
- Open to the public for at least 3 working hours during a work day
- Where the company secretary is located at
Yes! Once the registration has been successful, the company can list our address as the company address and we will handle all mails that arrive accordingly.
Yes! Lionsworld virtual office package comes with mail handling services – used to receive mails and parcels on behalf of you or your company as long as yourself or your company is registered with us.
Yes! Our registered business address can also be used as an address for you to receive your personal correspondence. However, this service cannot be used as your residential address.
Co-working Space
Nope! There is no minimum lease period to use our co-working space. We have daily (S$95/Month) & monthly (S$10/day) usage options available.
Call Answering Service
Calls that come in for your company can only be redirected to local numbers in Singapore. If you do not have a local Singapore number, calls that are picked up by our receptionists can be informed to you by email instead.
Yes! You may decide on the message you want our receptionists to answer with, as well as the necessary advice to give to your callers.
Incorporation Service
Before the incorporation can proceed, there are a few basic requirements to be met:
- Minimum 1 Shareholder, Maximum 50 shareholders
- Minimum 1 Company Secretary
- Minimum 1 Local Director (Singaporean/Permanent Resident)
- Usually Minimum paid-up capital of $1 with Minimum 1 Share
- Company must have a Singapore registered office address
- Desirable Company Name (Must Be Approved by ACRA)
In Singapore, foreigners who wish to incorporate a company must appoint a Singaporean or a Singapore Permanent Resident as a local director. This applies to all local companies regardless of company structure.
A director of a Singapore company must be at least 18 years old …….
Secretarial Service
The duty of the company secretary to ensure that all the documents are in order and properly kept inside the company’s minute book. On top of that, it is also the corporate secretary’s role to provide clear and proper advice to the members of the company on their queries related to their company structure and filings.
If you are the company’s only director, you will not be able to act as the secretary. The Board of Directors have a duty to appoint a knowledgeable person as secretary as his advise is deemed to be professional.
Secretarial Takeover
The director(s) of the company can pass a board resolution to remove the current corporate secretary without the secretary’s consent. Once the resolution is passed, you will have to file it to ACRA to officially remove the corporate secretary and appoint a new secretary.
If the minute book is not returned or documents have been misplaced or lost, it is necessary to patch all the documents back into the new minute book. This patching should be carried out by the new corporate secretary, who is responsible for ensuring that all the documents are correct and present when taking over the minute book of from the previous corporate secretary.
You can choose to change your company’s secretary at any time of the year. However, we advise that companies should avoid changing secretaries nearing any filing related deadlines.
