by If you’re a resident of Singapore or a foreigner and wish to start your business there,
then the initial thing you need to go for is company registration. Let’s check out what type of companies you can possess in Singapore. Let’s also consider the company registration procedure, the benefits of setting up a business, the procedure to file an application and more.
The best advice would be to take on the assistance of service providers. There are some well known names among the Singapore company registration agents. They provide you a two step registration procedure, this includes getting the company name approved and the company incorporation, that takes only a couple of hours. There’s another benefit of deciding on service providers. With the registration service, and also they supply you swarm of supporting services such as the getting the Employment pass for the foreign applicants or a Corporate Secretarial Support. Choose a service provider whose listing of clients is intensive as well as impressive. If local big companies decided on a service provider, you can blindly use the same one without uncertainty.
The requirements which need to be fulfilled to get the company registration done in Singapore are:
• Company’s Name: Prior to your company formation starts, it is important to get your company’s name approved. To decide the name of your company, you are able to take the aid of the name research function, given by your agent, which is primarily the Directory of Authorized Agencies. This procedure allows you to pick a name you prefer.
• Directors: To have your company registration accomplished, it is necessary to have a resident Director. This means the director should be the Singaporean resident or should have an Employment Pass or perhaps a dependent pass. He/she shouldn’t be under 18 years old, should not have any previous record of conviction and should not bankrupt. It is not compulsory that the director needs to be the share holder of the company.
• Shareholder: Your Company must have a minimum of one share holder and the maximum number can move up to 50. A investors can be a individual or a legal entity.
• Company Secretary: Within six months of your company incorporation, you’ll be required to hire a company secretary who’s a Singapore resident. • Paid Up Capital: The number of the investor investment should be paid out completely through the investors. To join up your organization in Singapore, the lowest compensated up capital is $1.
• Registered Address: The registered address of your office should be a local address for sure.
• The two methods of company registration in Singapore are:
1. Company Name Approval: Once you’ve completed the R&D from your side and choosing a name for your company, it is very important to have that identify approved. You can do this by applying electrically with Accounting and Corporate Regulatory Authority Singapore (ACRA). Once the name gets approved, it will be reserved for around two months, from the date of filling the application.
2. Company Incorporation: The next thing consists of filling an incorporation request and approval. This can be achieved within few hours if everything is completed from your side to stop any slow downs. The incorporation documents must be completed effectively with the signatures of Director and the Share holders.
Company creation in Singapore is not an easy process for foreigners but if resolved properly it is not not possible too. business registration
