Starting A Singapore Company Procedures

By Author: Loiue Englebert
Total Articles: 1
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A lot of experts considered a company or known as corporation in several countries, as the most ideal structure for business for medium- and large-sized enterprises as the said organization gives attractive tax policies and "limited liability".

The following is a step step-by-step procedure on setting up a company in Singapore:

1. Businessmen should submit their company name to the Registrar of Companies (ROC) which should be unique and is not used by another existing business organization. The chosen name of the company should not violate the trademarks of other companies and as well as not advocate indecency and vulgarity.

2. Opening a bank account of the company is the next step after being able to acquire a company name.

3. Submit the Memorandum and Articles of Association to ROC.The above-mentioned Memorandum constitutes an explanation of the purpose of the incorporation and the nature of transactions the business will engage into. On the other hand, the Articles of Association contain procedures and policies on how the business will be managed internally like the handling and the issuing of ...
... company shares, company officers and board of directors and other laws of the corporate.

4. Comply the provisions stipulated in the Singapore Companies Act relating to the matters of registration such as an office address and being able appoint a minimum of at least one resident director, one eligible secretary and one shareholder.

*A resident director may be a Singaporean citizen, permanent resident, or holder of Employment Pass, EntrePass, or Dependant Pass.There is no limit on the number of additional directors regardless if they are foreign individuals or Singaporean citizens.

*A range of one to 50 shareholders are permitted in a company, the said shareholders could either be an individual or corporate entity.

*A qualified secretary should not be one of the company shareholders.

*A registered office address is where shareholders keep their legal records, it is also where the authorities send notifications. If a company uses a residential address instead of a commercial one, the company should ask the consent of the Housing and Development Board or the Urban Development Authority.

5. Shareholders must file the new business start-up documents to ROC before they even conduct business.Additionally, it is required for the company to pass an identity certificate of the shareholders and officers, statutory statement of compliance, notice of the location of a registered address, and return of allotment of shares.

On the other hand, a person who likes to be the company director should notarize a consent and also responsible in signing and submitting profiles of all directors, secretaries, auditors and main executives.

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Asiabiz is the leading Singapore Company Incorporation Solutions Specialists. It has successfully helped foreign entrepreneurs Incorporate a Singapore Company. Our office is located at Raffles Place, in the heart of the Singapore business district. ("CBD") If you're in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours for advise and consult.