Asiabiz Offers Corporate Services

By Author: Diane Paz
Total Articles: 172
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Hundreds of foreign companies are nestled in Singapore's Central Business District, ranges from banking, insurance and law firms, to design and art companies, to bar and restaurant chains. The Singapore Economic Development Board records that at present, more than 7,000 multinational companies have registered a company in Singapore as a regional or global headquarters. Singapore company registration is also a very popular option for international entrepreneurs, and SME's, wishing to register any type of business. The quick and efficient company registration procedure had been the main reason for the growing attraction of Singapore company formation. A typical Singapore registration procedure with the help of a service firm is as follows:

(i) Singapore company name and corporate structure identification. Your application will be submitted by your chosen service firm for company registration to the application to the Accounting and Corporate Regulatory Authority of Singapore (ACRA). If your pending name still needs to be reviewed by an external authority, you will receive notice of approval/rejection after 1-3 weeks, ...
... otherwise, you will receive immediately notification of such approval/rejection.

(ii) Once the details are approved, a minimum of one resident individual director (corporate directors are not allowed) is required to be appointed. A resident is classified as a Singapore Citizen, a Permanent Resident, a person with an Entrepass, Employment Pass or Dependent Pass.

(iii) It is required to appoint at least one shareholder . A maximum of 50 shareholders is allowed to be appointed by a private limited company. A director and a shareholder may be the same person.

(iv) The minimum authorised share capital for a Singapore registered company is S$1.

(v) The company will be given a Unique Entity Number (UEN) as its identification number.

(vi) The ACRA will give a certificate of incorporation and the ACRA online public register shall display the company details.
For foreigners who are interested in registering a company in Singapore, they must consider a number of essential factors. These include:
(i) You must be at least 18 years old.

(ii) Unless the High Court or official assignee grants permission, an undischarged bankrupt is not eligible to set up a Singapore company.
(iii) If the foreigner is not a Singapore Permanent Resident, he needs to apply for an Entrepass before he can engage in operation of a business in Singapore.

(iv) If the foreigner does not want to apply for an Entrepass, he may instead appoint a local resident director to complete their Singapore company registration. In this case, the foreigner can still then live outside of Singapore.

After successful registration of a company in Singapore, it can now then be eligible to enjoy the following benefits: tax exemptions and incentives, Singapore's sophisticated transportation system, Singapore's key central location in Asia, the influx of investment opportunities, and Singapore's protection of Intellectual Property Right. Singapore is not only an easy place to register a company, but, according to the 2010 Doing Business Report, it is also the easiest place to do business in the world.

Resource Box:

Asiabizservices is the leading Singapore Branch Office Registration Services Specialists. It has successfully helped thousands of foreign entrepreneurs manage their Singapore company name check. Our office is located at Raffles Place, in the heart of the Singapore business district (“CBD”). One of our invaluable services is to provide Singapore shelf companies for clients with specific requests. Each of these shelf companies meets all the necessary requirements and can be purchase for immediate operation. 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.