Company Registration Singapore: Registration Guide

By Author: Clark Lewis
Total Articles: 1
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Singapore offers a lot of opportunities for business that businessmen and individuals regarded it as a business hub. Aside from that, the residents are multicultural and open-minded. Also, due to its economic stability and popularity, a lot of businessmen were attracted to open their businesses in Singapore.

For a start, you can make your own research on the status of Singapore when it comes to business. Be sure to make your research thorough and after gathering enough information you can then decide whether to proceed or not with your business plans.

Since we are now living in a world of technological advancement, all the transactions of registration are using computerized system which makes the process smooth, quick and efficient. Usually, the company can be incorporated in 2 days time.

There are two important steps in Company Registration and they are as follows;

Company Name Approval: Before setting up your business formally, you should already have a business name approved. It is the first step in incorporation process. This is processed with the company registrar and your authorized business ...
... registration firm will facilitate the application for business name.

Company Incorporation: After having a registered business name, the filing of incorporation and the approval from the Registrar of Companies can be completed in a few hours when all incorporation documents are available.

If there are no delays with the name approval or directors/shareholder, both the steps can be completed on the same day.

In incorporating a company, there are some other important things to take note namely;

Company Name: The company name should be approved before proceeding with the next process.

Directors: The number of additional local or foreign director is unlimited as long as you have a minimum of one resident director. The director must be above 18 and financially stabled.

Shareholders: You can have a minimum of 1 and a maximum of 50 shareholders in a Singapore private limited company. It can be a foreign or a local shareholder. A director can be a shareholder as will, could be a person or another legal entity or company.

Company Secretary: All company in Singapore should appoint a qualified secretary within the 6 months of its corporation, according to Singapore Companies Act Section 171.

Paid-up Capital: The minimum paid-up capital for registration is S$1. It can be increased anytime after the incorporation of the company. There is no such thing as concept of Authorized Capital for Singapore companies.

Registered Address: You should provide a local Singapore address as the registered address of the company. The registered address must be a residential or commercial address and cannot be a PO Box.

Taxation: One of the reasons why entrepreneurs wanted to have a company in Singapore is tax privileges. Singapore registered companies enjoy overwhelming tax exemptions and some other incentives.

Keep in mind that the most crucial thing in the process of forming a business is decision making. Before, doing each step you should think and weigh things over before coming up with a decision.

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.

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.