Process In Company Registration In Singapore

By Author: Clark Kent
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Different types of businesses are present in Singapore, from banking to insurance and so also with bars and art companies. According to the Singapore Economic Development Board, more than 7,000 multinational companies have registered a company in Singapore as a regional or global headquarters to date. Singapore company registration is also a very popular option for international entrepreneurs, and SME's, wishing to register any type of business.

The appeal is uniquely designed to help make the procedure a lot easier and as practical as it may be.

Basic steps for company registration in Singapore with the aid of service firm are provided below:

1. A Singapore company name and corporate structure are determined. The service firm chosen to help register your company in Singapore presents the application to the Accounting and Corporate Regulatory Authority of Singapore (ACRA). by the your chosen service firm.} If the name is appropriate enough, it wont take too long but if is not approved at the shortest time, an external authority will check it first that would take 1-3 weeks.

2. Appointing a director ...
... is a must, upon the approval of the details, also it is important to take note that corporate directors are not allowed. A resident can either be a Singapore Citizen, a Permanent Resident, a person with an Entrepass, Employment Pass or Dependent Pass.

3. A minimum of one shareholder should be appointed. A maximum of only 50 shareholders is required for a private company.

4. S$1 is the minimum share capital in registering a company in Singapore.

5. Unique Entity Number are provided to the company for the purpose of identification.

6. ACRA will be providing a certificate of incorporation and businessmen will be able to view the company details via ACRA's online public register.

Several factors to be considered by a foreign individual upon registration of company in Singapore are as follows;

1. You must be 18, or more, years old.

2. You should have a clean reputation or else you need to have the appropriate permission from a High Court or official assignee.

3. Unless the foreigner is a Singapore Permanent Resident, they must apply for an Entrepass to be able to engage in operation of a business in Singapore.

4. Alternatively to an Entrepass, a foreigner may appoint a local resident director to complete their Singapore company registration. This means the foreigner can then still live outside of Singapore.

Benefits such as being exempted from tax and other incentives, state of the art transport system, being located in the heart of business in Asia, the convergence of investment opportunities, being protected from Property Rights, and many more will be given to the company once they registered in Singapore. Singapore is not only considered as the easiest place for a company to be registered but also the best place to operate a business according to 2010 Doing Business Report.

Resource Box:

Asiabizservices is the leading Singapore Company Incorporation Services Specialists. 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. ("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.