Frequently Asked Questions About Singapore Incorporation

By Author: Ashley V.
Total Articles: 63
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With Singapore company incorporation, there are many options to consider. Some important things will be considered. Given below are some of the most asked questions.

1. Should I appoint a secretary?

Absolutely, a company should always have a secretary as this is stated in the law followed by Singapore. This law is part of the "Singapore Companies Act".

2. I understand that Singapore incorporation can be done and maintained by one person. Is this legit and possible?

Yes, one individual can work on all of the incorporation process. But always remember, that hiring a secretary is a must and being a secretary and director at the same time is not allowed.Company directors must be residents of Singapore, too.

3. Are there considerations in appointing a secretary?

Absolutely, hiring a secretary that is already professionally qualified is not allowed.Changes regarding the law have been changed.

Be reminded that a director should be able to work all the responsibilities given to him/her.Consider always the experience and knowledge of the individual you are going to appoint as a director.

4. ...
... I know about incorporating a business in Singapore. This means that I will spend extra on posting my company name at my desired business location. What do you think would be the duration of this?

Law states that it is no longer required. As long as your address is clearly visible, people can locate your business.The changes were uniquely designed to help some businessmen who wants to start a small home business and at the same time make the process much easier.

5. For personal purposes, I want to get some business papers printed. Are there any things to be considered?

Yes, do not forget your Singapore Company registration numbers on your correspondence.Company registration numbers includes accounting statements along with business letters.These numbers are required during publications.

6. I want to start incorporating a business in Singapore. I am not a resident in Singapore, what visa should I apply if I have some skills and sort of trainings?

If you have special skills and education, it is best to apply for the employment pass. The process won't be too long. Meanwhile, if you can't have the Employment Pass you can apply for Entre pass which takes a long time and is designed to less educated and less experienced entrepreneurs.

7. Is tax exemption true for the first year of a new business?

Right, but some requirements are required.

a. Company should be incorporated in Singapore

b. 20 shareholders are only allowed.

c. You must also be a qualified tax resident of Singapore.

d. The exemption is for the first $100,000 of income or profit.

e. First rate would be 8.5% only for the first $100,000 to $300,000 and increase to 17% when income increases.

It is important to know all about Singapore company incorporation. In this way, you will receive the greatest benefit from your business venture. Always take note that you should have a secretary that is not working as your director at the same time. One individual is required to file for the incorporation. It is not needed to put a company sign in your residence. Keep in mind that your registration numbers are ready for publications. Tax exemption will be applied for the first income of S$100,000. You may have many other questions concerning Singapore company incorporation.

Resource Box:

Asiabizservices is the leading Singapore Company Registration Services Specialists. It has successfully helped thousands of foreign entrepreneurs register 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.