Incorporate A Singapore Company Preliminary Conditions

By Author: John Media
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Almost every foreign investors believes that one of the best business locations worldwide is Singapore. Singapore is a topnotch when it comes to 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. The 17.9% growth in Singapore's GDP in the first half of 2010 makes Singapore considered as one of the fastest growing economy in the world. For this reason, we have here the preliminary information which you will need if you prefer to start a Singapore company. Please continue reading and start exploring the world class business standing of Singapore.

Very first thing to talk about 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. Furthermore, a further 50% exemption is offered about the next S$200,000 from the chargeable income. Second is the setup requirements for Singapore company registration. Applicants should comply the next:

Minimum 1 ...
... Shareholder, 1 Resident Director and 1 Company Secretary

Minimum initial paid-up share capital is S$1

Singapore Company will need to have a Singapore registered office address.

Next, to be able to efficiently take up a Singapore company, awareness on the next concerns should be present:

The organization name has to be registered in ACRA before incorporation would happen. The business name ought to be unique and desirable.

There should be no less than a minumum of one corporate or individual shareholding is required. A director and shareholder could possibly be the same or different person. 100% local or foreign shareholding is allowed. Singapore Companies Act allows a minimum of one and at the most 50 shareholders to get a Singapore Private Limited Company. Details of shareholders can look on public records.

There ought to be a minumum of one resident direct who must be a Singapore resident.

The organization should appoint a company secretary who is a resident in Singapore. Singapore Companies Act requires companies to each appoint a business secretary within couple of months of incorporation.

The minimum paid-up capital for registration of your Singapore company is S$1 or its equivalent in any currencies.

There must be a registered address which should be an actual address rather than a PO Box. In some types of business, utilization of residence address can be done.

The Memorandum and Articles of Association, a memorandum which details all the activities that the company are authorized to cope with needs to be filed in ACRA.

ABOUT THE AUTHOR:
Asiabiz is the leading Singapore Company Incorporation. It has successfully helped thousands of foreign entrepreneurs incorporate a Singapore Company. Our office is located at Raffles Place, in the heart of the Singapore business district.