Forming A Singapore Company Requirements

By Author: Nelson Mitchell
Total Articles: 1
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Among the several business structures in Singapore, private limited companies are the most popular because of the variety of benefits one can get in terms of liability, protection of asset, tax and some incentives for development.

Any foreign or local person can register a Singapore company above the age of 18 according to Singapore company act. But before anything else, there are some guidelines to follow in order to form a business entity in Singapore, and they are the following;

* Company Name. The company name should be made unique and catchy, most especially must be submit for approval to Accounting and Corporate Regulatory Authority (ACRA) of Singapore. If ever the company name proposed is used by another company in Singapore, it will be automatically rejected.
Directors. There should be one resident director, also defined as Singaporean citizen. The appointment of director is not limited. You can have as many directors as you want as long as they're above 18 and financially stable.
* Shareholders. There is a minimum of 1 and maximum of 50 shareholders. The director can as well be a shareholder. ...
... It can also be someone from another business entity. Local or foreign shareholder is 100% allowed.
* Company Secretary. The secretary must be a Singaporean resident. Every company must appoint a qualified company secretary within 6 months of its incorporation as stated in Section 171 of Singapore Companies Act.
* Paid-up Capital. S$1 is the minimum paid-up capital. It can soon be increased after the incorporation of the company.
* Registered Address. A local Singaporean address should be registered for the company. It should be either a residential or commercial address and should not be a PO Box.
* Taxation. Tax exemption and many other incentives can be enjoyed by authorized companies. Less than 9% for the first S$300,000 annual profits and 17% flat after that will only be paid for tax. No capital gains or dividend tax that is why many entrepreneurs enjoy having business in Singapore.

These are the major information you need to know in forming a company in Singapore. If you are still confused and want to know more information, please do not hesitate to contact local authorized registration firm around Singapore.
Among the several business structures in Singapore, private limited companies are the most popular because of the variety of benefits one can get in terms of liability, protection of asset, tax and some incentives for development.

Any foreign or local person can register a Singapore company above the age of 18 according to Singapore company act. But before anything else, there are some guidelines to follow in order to form a business entity in Singapore, and they are the following;

* Company Name. The company name should be made unique and catchy, most especially must be submit for approval to Accounting and Corporate Regulatory Authority (ACRA) of Singapore. If ever the company name proposed is used by another company in Singapore, it will be automatically rejected.
Directors. There should be one resident director, also defined as Singaporean citizen. The appointment of director is not limited. You can have as many directors as you want as long as they're above 18 and financially stable.
* Shareholders. There is a minimum of 1 and maximum of 50 shareholders. The director can as well be a shareholder. It can also be someone from another business entity. Local or foreign shareholder is 100% allowed.
* Company Secretary. The secretary must be a Singaporean resident. Every company must appoint a qualified company secretary within 6 months of its incorporation as stated in Section 171 of Singapore Companies Act.
* Paid-up Capital. S$1 is the minimum paid-up capital. It can soon be increased after the incorporation of the company.
* Registered Address. A local Singaporean address should be registered for the company. It should be either a residential or commercial address and should not be a PO Box.
* Taxation. Tax exemption and many other incentives can be enjoyed by authorized companies. Less than 9% for the first S$300,000 annual profits and 17% flat after that will only be paid for tax. No capital gains or dividend tax that is why many entrepreneurs enjoy having business in Singapore.

These are the major information you need to know in forming a company in Singapore. If you are still confused and want to know more information, please do not hesitate to contact local authorized registration firm around Singapore.

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

Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions. If you are interested in learning more about Asiabizservices kindly email us at sales@asiabizservices.com or give us a call at +6563034614.