Overview On Company Registration In Singapore

By Author: Yankee Davidson
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The Singapore Registrar of Companies made certain that Company registration Singapore procedures are completely computerized. This computerized system makes the incorporation process quick and efficient without the presence of bureaucracy and red tape. Under normal circumstances, the company can be incorporated in 1-2 days.

Company registration in Singapore procedures involves two essential steps namely: a) Approval of Company Name and; b) Incorporation of Company. If there are no nuisance related to the process of name approval or particulars of directors/shareholders the two steps can be done on the same day.

Procedure 1: Name Approval: It is vital to already have a business name approved prior to the formal business setup. The company registrar is responsible in processing the approval of business name. The one responsible in facilitating the business name application which is the first step in incorporation process, is the authorized business registration firm which you employ.

Procedure 2: Company Registration: Assuming incorporation pertinent papers are ready and have a registered business name, the ...
... filing of incorporation as well as the approval from the Registrar of Companies can be completed in just a few hours.

The following should also be considered in incorporation:

Company Name. Before incorporation of the Singapore company will occur, the name must be approved.

Directors. Having at least one resident director is a requirement. [There is no limit on the number of additional local or foreign directors a Singapore Company can appoint.On the other hand, the number of additional local or foreign directors appointed in a Singapore Company has no limit. owever, no limit has been set as to the number of additional local or foreign directors to be appointed in a Singapore Company. The age requirement for appointed directors is at least 18 years old. Furthermore, he/she must not been undisclosed bankrupt or committed any illegal practice.

Shareholders. A limit of 1 to 50 is the allowable number of shareholders in a Singapore private limited in which a director and shareholder can be the same or different person. The shareholder can be a person or another legal entity such as another company or trust. 100% local or foreign shareholding is allowed.

Company Secretary. All registered company should appoint a qualified company secretary within 6 months of its incorporation, as stated in 171 of the Singapore Companies Act,. The company must also make certain that secretary must be a natural person currently resident in Singapore.

Paid-up Capital. S$1 is the minimum paid-up capital for a registration of a Singapore Company. After the incorporation of the company, the paid-up capital which is also known as share capital can then be increased anytime. There is no concept of Authorized Capital for Singapore companies.

Registered Address. Another requisite so that one can pursue in registration of a Singapore company is to provide a local Singapore address as the registered address of the company. The registered address must be a physical address (can be either a residential or commercial address) and cannot be a PO Box.

Taxation. The salient benefit that Singaporean registered companies enjoy is the very appealing tax exemptions and incentives. The abovementioned is the compelling reason why entrepreneurs worldwide choose to incorporate a company in Singapore.

Author Bio:
Rikvin has been assisting clients from all over the globe in their Singapore immigration and company incorporation matters. We assist local and foreign entrepreneurs who want to form a Singapore company. Our success rate is phenomenal, and all most all of our enterprise clients have entrusted us, with the routine management tasks such as book keeping and secretarial services and we continue to impress them beyond our promise. Rikvin has successfully helped foreign entrepreneurs start a Singapore company.