Start A Singapore Company: Preliminary Conditions

By Author: Shayne Hughes
Total Articles: 108
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Most foreign investors consider Singapore as one the best business locations worldwide. Singapore ranks high as having the best quality of life in Asia and worldwide. It uses high-technology, continuous technological advancement and complete facilities which brings about comfort to residents, tourists and most especially foreign investors. Singapore is also regarded as one of the fastest growing economy in the world with a growth of 17.9% in its GDP in the first half of 2010. With this, we are excited to provide you the basic information needed to start a Singapore company. Please read on and start enjoying Singapore's world class business reputation.

First thing to discuss is Singapore's corporate taxation where new start-up companies pay Zero tax on the first S$100,000 of chargeable income for the first three consecutive years. In addition, a further 50% exemption is given on the next S$200,000 of the chargeable income. Second is the setup requirements for Singapore company registration. Applicants should comply the following:
Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary
Minimum ...
... initial paid-up share capital is S$1
Singapore Company must have a Singapore registered office address

Next, in order to efficiently start a Singapore company, awareness on the following concerns should be present:
The company name must be registered in ACRA before incorporation would happen. The company name should be unique and desirable.
There should be a minimum of at least one corporate or individual shareholding is required. A director and shareholder can be the same or different person. 100% local or foreign shareholding is allowed. Singapore Companies Act allows a minimum of one and a maximum of 50 shareholders for a Singapore Private Limited Company. Details of shareholders will appear on public records.
There should be at least one resident direct who must be a Singapore resident.
The company should appoint a company secretary who is also a resident in Singapore. Singapore Companies Act requires companies to each appoint a company secretary within six month of incorporation.
The minimum paid-up capital for registration of a Singapore company is S$1 or its equivalent in any currencies.
There should be a registered address which must be a physical address and not a PO Box. In certain types of business, use of residence address is possible.
The Memorandum and Articles of Association, a memorandum which details all the activities which the company are authorized to deal with should be filed in ACRA.

Rikvin is an ACRA registered service bureau. We provide a complete corporate solution under one roof to be able to Start a Singapore Company and process registration of private limited companies, formation of offshore companies with opening of corporate accounts, business registration including accounting, tax, immigration related to work passes visa and compliance services in Singapore.