Checklist for CLG in Singapore

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A Company Limited by Guarantee (CLG) is a type of business entity that does not have shareholders or capital stock. Instead, it has members who provide a guarantee to contribute a nominal amount (usually a small sum, such as $1) in the event the company is wound up and has debts or liabilities. A enterslice.com/sg/singapore-company-limited-by-guarantee-formationcompany limited by guarantee formation in Singapore requires meeting specific criteria and following a clear process. Here's a checklist for the formation:

1. [*B]Company Name[/B]: Choose a unique company name that complies with Singapore’s naming guidelines. It must be approved by the Accounting and Corporate Regulatory Authority (ACRA).
   
   [*B]Company Objectives:[/B] Define the company’s purpose. A CLG is typically set up for non-profit purposes, such as charitable, educational, or social causes.
   
   [*B]Directors:[/B] Appoint at least one director who is a Singapore resident (citizen, permanent resident, or holder of an Employment Pass or Dependant Pass). A maximum of 50 directors can be appointed.
   
   [*B]Members:[/B] A CLG requires at least one member who guarantees a nominal amount in the event of the company's dissolution. The number of members must not exceed 50.
   
   [*B]Company Secretary[/B]: Appoint a qualified company secretary within six months of incorporation. The secretary must be a resident of Singapore.
   
   [*B]Registered Office Address:[/B] Provide a local physical address for the registered office.
   
   [*B]Constitution:[/B] Draft and submit the company's constitution outlining its rules, operations, and objectives.
   
   [*B]Paid-Up Capital:[/B] There is no minimum paid-up capital requirement for a CLG, but members must agree on a guarantee amount in the event of liquidation.
   
   [*B]Tax Registration:[/B] Register with the Inland Revenue Authority of Singapore (IRAS) for tax purposes and apply for charity status, if applicable.

Following this checklist ensures compliance with Singapore's regulations and simplifies the process of forming a CLG.