Guidelines In Setting Up A Business In Singapore

By Author: Daniel Yio
Total Articles: 6
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While there are several business structures in Singapore, the most popular is a limited company because of its numerous advantages, especially when it comes to property rights, limited liability and tax incentives and development.

But before an entrepreneur set up a Singaporean company, they should first check the following:

* Singapore Companies Act, a private company can not exceed 50 shareholders. However, at least one resident director and a qualified secretary.

* The resident manager may be a natural citizen or alien, who is the Employment Pass or through the hallway. At the same time, there is no limit to number of additional staff, both local and foreign, as long as at least 18 years old, is not considered to be bankrupt or convicted of any prosecution, and bugs.

* Appointed company secretary is a "natural person" who lives in Singapore.

* Paid-up capital over jobs and the hall pass is less than S $ 1 and S $ 50,000, respectively. It is important to note that the paid-up capital can be raised at any time after its creation.

* Name of the approval of the Accounting ...
... Officer and Corporate Regulatory Authority (Acra) before it is recorded. In the case of a proposed trade name used by another company in Singapore is considered vulgar or obscene, and the authorities, it will automatically be rejected.

* Foreign companies and individuals can hold up to 100 per cent effort and you can still get some tax relief and development.

* The company must be domiciled "physical address" and not PL. For certain types of transactions using the home address permitted. (Legally registered address is how companies must safeguard and preserve the legal documents.)

* Companies should ensure that their memorandum and articles Acra. These documents clearly show that the activity for a given company may be recruited and the rules of internal administration.

Foreign companies and entrepreneurs can also record and owns a private limited company, which is still regarded as a local company, so it meets the local tax rates, exemptions and development.

At the same time foreign companies to organizations and individuals in the Singapore Companies Act to appoint a professional business perspective, they should be banned even in their own company.

Singapore Employment Pass is the main type of Singapore work visa issued to foreign professional employees, managers, and owners/directors of Singapore companies. For more detailed information on various Employment Pass work permit type, refer to Singapore Employment Pass Application guide.