Checklist For Company Limited by Guarantee Formation in Singapore

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Forming a Company Limited by Guarantee (CLG) in Singapore requires a specific set of steps and documentation, as this type of company is typically used for non-profit purposes, such as charities, associations, or social enterprises. Here is a checklist for the formation of a Company Limited by Guarantee in Singapore:

• Choose a Company Name: Ensure the name is unique and complies with ACRA’s guidelines.
• Define Objectives: Clarify the non-profit objectives to be included in the Constitution.
• Prepare the Constitution: Draft the company’s Constitution outlining rules, governance, and non-profit objectives.
• Appoint Directors: At least one director must be a Singapore resident. Collect identification documents.
• Appoint Members/Guarantors: At least two members who agree to contribute a nominal guarantee in case of winding up.
• Registered Office Address: Provide a local Singapore address for official communications.
• Appoint a Company Secretary: Appoint a qualified secretary within six months of incorporation.
• Determine Financial Structure: Specify the guarantee amount in the Constitution (typically a nominal sum).
• Compliance with Regulations: Ensure all necessary licenses are obtained, especially for fundraising or charity activities.
• Submit Documents: Submit required documents (name approval, Constitution, director/member details) to ACRA via BizFile+.
• Post-Incorporation: Meet ongoing filing and governance requirements, including annual returns and member meetings.

By following this checklist, you will ensure that your Company Limited by Guarantee in Singapore is established correctly and in compliance with all legal and regulatory requirements.