Incorporation, Corporate Secretary and OCBC bank account

Osome has partnered up with OCBC Bank to spare you the paper fuss and give you a hard-to-find deal. The first 100 customers get Incorporation for free, 35% off the Corporate Secretary package and OCBC Bank business account.

Everything happens online: we collect information from you in a secure chat, prepare and lodge all the documents. You sign them and pay electronically. All the fees are included in the price — you always pay what you see. We normally get a company registered in 1–3 hours.

Incorporation + Secretary

Incorporation is free when purchased with secretarial services

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600
S$
388
Free Incorporation
All fees included

Incorporation

Worth S$350

1—3 hours to incorporate

Included

  • S$315 government fees: name application ($15), registration fee ($300)
  • Checking and reserving company name
  • Preparing your company constitution (memorandum & articles of the — company)
  • Preparing all registration forms
  • Filing with ACRA
  • Preparing share certificates and registers
  • Minutes of first board meeting

Unlimited Corporate Secretary for 1 year

Worth S$600

The service is handled by our in-house team of certified Corporate Secretaries with over 10 years of experience

Included

  • Unlimited number of resolutions

    For example, change in officers, registered address, business activity, company name or distribution of shares

  • Corporate Secretary routine annual filing and AGM preparation
  • S$60 annual Filing government fee

OCBC Bank and Osome
have a present for you

We offer 35% off the Osome corporate services if you open a business bank account at OCBC Bank

OCBC Business Account

Opening a business account with OCBC Business Banking couldn’t be easier. Start easily with one of the lowest initial deposit required in the market and enjoy no minimum balance for the first 6 months.

What’s more, OCBC business accounts come with free Digital Business Dashboard to help you manage and grow your business.

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The Account Plans for Businesses

Business Growth Account (BGA)

Good for aspiring businesses to start easily

Business Entrepreneur Account (BEA)

Good for businesses with many transactions

The minimum initial deposit

S$500

S$3,000

The minimum balance required

No minimum balance for the first 6 months

S$3,000 starting from the 7th month

No minimum balance for the first 6 months

S$5,000 starting from the 7th month

What happens if the balance is below the minimum

S$35 per month

S$35 per month

Annual Fee

S$38 per year

The first 3 months are free of charge.

S$38 per month starting from the 4th month

Online banking

Yes

Yes

The OCBC + Osome course of action

You log in to Osome with your SingPass via MyInfo, submitting the necessary particulars in one click
You provide other company details, Osome compiles the papers, you sign them with your electronic signature
Osome files your papers with ACRA, your business gets registered
You get a link to the OCBC Bank website where you can open your business account instantly*
You get started with the business

Q&A: Incorporation

What are the requirements?

To register a business in Singapore you need to have a local address, a corporate secretary, a resident director. Paid up capital starts at $1.

What does the process look like?

We check that the company name you’ve chosen is available. You send us your IC or passport copy, details on directors and shareholders. We prepare all the necessary documents, send them to you for electronic signature, and submit them to ACRA(a government entity that registers companies). On your end, it’s just a message thread in a secure chat. Once a UEN has been issued, your company is operational.

How long does incorporation take?

Once all the documents are ready, it usually takes us less than an hour to incorporate a company. It mostly depends on when you are comfortable with providing all the details, as well as the service hours of the authorities. Our record stands at 38 minutes and we keep getting better.

Do I need a company address?

Yes, all Singaporean companies must have a local registered address. It goes on all legal documents. If you don’t have an office address, use our service. We handle your incoming letters, scan and store them in your Osome account so you have easy access to all your documents. You can also use your residential address as your company address if your business is not going to disturb your neighbours. You might need additional approval from authorities for this.

What’s Corporate Secretary?

A corporate secretary is a person responsible for all necessary documents required by law. For example, issuing company resolutions, managing regulatory filings and maintaining company books. Every Singapore business must have one. This critical role requires various certifications and involves a lot of responsibility.

Who can be a director?

Anybody above 18 years old: Singapore locals or foreigners. You can have as many directors as you want, or it could be just you.

Q&A: Bank Account Opening

Who is eligible to apply for a business account with OCBC?

Any entity registered with ACRA. Account opening is subject to approval by OCBC Bank.

Who is eligible to open the business account entirely online?

Instant account opening is available for Singapore incorporated companies (a) owned only by one or two Singaporeans and PRs and (b) opening their first OCBC Business Banking Account. Account opening is subject to approval by OCBC Bank. For others, you can still incorporate your company through OSOME and follow the onscreen instructions and we will follow up with you on your application.

How much time does it take to open a business account online?

A Business Growth Account or a Business Entrepreneur Account is opened instantly* if you apply online with MyInfo (login via SingPass), MyInfoBiz (login via Corppass) or your OCBC Personal Banking credentials (if you are an existing OCBC Personal banking customer)

My company will have more than two shareholders. Who needs to be present for account opening?

Unless otherwise is specified in Board Resolution, we expect to meet with any two Directors. They’ll need to have their NRIC or Passports with them.