Confused about incorporating a company in SG - do I really need a local director?
So I've been trying to set up my own company here in Singapore for the past few months and honestly the whole process is super confusing. I'm a PR here and I thought it would be straightforward but now I keep reading conflicting stuff about whether I absolutly need a local director or if my PR status counts. Like, does being a PR mean I qualify as a 'ordinarily resident' director or not?
I already tried reading through ACRA's website like three times and honestly half of it goes over my head. I also asked in a few Facebook groups but people just keep telling me to 'engage a corporate secretary' without actually explaining what the requirements are. I get that a corp sec is important but I just want to understand the basics before I spend money on anything. Also confused about the paid-up capital thing - does it really just need to be $1 to start or is that just a minimum and banks will judge you for it later when you try to open a business account?
My plan is to run a small ecommerce business, nothing fancy, probably just me as the only shareholder and director if possible. Has anyone here gone through this process recently and can share what it was actually like? Especially if you're a PR and not a citizen, would really appreciate hearing your experiance.