What is private limited company in Singapore?

In private companies, the maximum number of shareholders is limited to 50 and the memorandum and constitution restricts the right of its members to transfer their shares in the company. A private company limited by shares can be classified as an exempt private company.

The key characteristics of an exempt private company are:

a) no more than 20 shareholders; and
b) all the shareholders are individuals.

Exempt private companies with annual revenue of less than S$10 Million are exempted from audit requirements and are not required to file financial statements with the ACRA.

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