Formation of Private limited company in Singapore involves several key requirements. Firstly, the company must have at least one shareholder, which can be an individual or a corporate entity. A minimum of one director, who must be a resident of Singapore, is required. Additionally, a qualified company secretary must be appointed within six months of incorporation. The company needs to have a registered office address in Singapore where official documents can be sent and must maintain a local registered address.

The company name must be approved by the Accounting and Corporate Regulatory Authority (ACRA) before incorporation. Following this, the incorporation documents, including the company constitution, must be filed with ACRA. The company must also have a minimum paid-up capital of SGD 1. After incorporation, the company should register for GST if its annual turnover exceeds SGD 1 million. Lastly, compliance with annual filing requirements and statutory obligations is crucial for ongoing operations.