Singapore Company Incorporation with Paul Hype Page
Company Registration at Paul Hype Page Singapore

There are many things which need to be known by a person who is planning to incorporate a company in Singapore. Company incorporation in Singapore requires a number of incorporation requirements to be fulfilled. Every company to be incorporated there also must receive due approval from the Accounting and Corporate Regulatory Authority (ACRA).

Business incorporation is essential for the process of conducting business activities in any country including Singapore. Anyone who has made plans to incorporate a business in Singapore will soon receive tremendous benefits from doing so. Incorporating a company in Singapore provides many advantages when compared to incorporating a company in most other countries. Any savvy business owner who understands how to navigate the business environment and corporate scene of Singapore will find that their new Singapore-based company will truly thrive and blossom. There are many valid and viable reasons why the incorporation of a company in Singapore provides a great many advantages.

Although many have heard of these numerous benefits regarding the incorporation of a company in Singapore, not everyone truly understands them. One of them is the relatively low corporate taxes. Singapore trades on one of the lowest tax rates globally. Companies of Singapore pay as little as a 17% corporate tax rate on net income. Other advantages such as tax incentives may be further used for the purposes of tax savings. The country also has one of the highest levels of ease of doing business globally, and the lifestyle in the country is generally excellent regardless of one’s level of income. The business environment of Singapore is therefore one which has proven to be very beneficial towards anyone who has the intent of starting a new company which is to be based there.

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The solutions we offer for companies and their owners cover important areas such as incorporation, taxation, auditing, and work visas, among others. 

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We are always ready and willing to work with any genuine and legitimate company which requires our incorporation services or any other services we provide. 

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We offer company incorporation, consultancy services, auditing, taxation, and immigration & compliance services. 

Anyone who is planning on incorporating a new business or company in Singapore might face difficulties in doing so. For this reason, we at Paul Hype Page & Co can step in and make this a far easier task. We have a great deal of professional expertise in incorporating companies of any size which are based in Singapore. As we help you start your company or business, there will in time be significant benefits regarding its profitability and amount of revenue generated. We will guide you through every step of the Singapore company incorporation process and even beyond so that your company in Singapore will be able to attain new levels of business and financial success. 

ACRA

Those incorporating or about to corporate any business in Singapore are required know of and adhere to the rules set by the Accounting and Corporate Regulatory Authority (ACRA). ACRA is the government authority that is responsible for the registration of companies in Singapore. Depending on the type of business in which the company involved is engaged, the documents which are required by ACRA as well as the duration required to receive approval from them might vary. For instance, companies that deal with general activities will require a shorter duration for approval once all the necessary documents have been provided. However, if the company deals with specific professional services such as healthcare or education, then the period will be longer. It usually takes longer for these types of companies because there are additional authorities or licensing required. This is because the nature of such companies necessitates more extensive guidelines to be fulfilled so that they may operate properly. 

The incorporation of a business involves multiple different procedures. Both local and foreign business owners alike can opt to reduce the amount of time which is spent by utilizing the services of a professional agent for assistance with the incorporation of the business. Foreigners in particular must take note of this fact because according to the current business laws of Singapore, foreigners are not permitted to incorporate a Singapore-based business on their own. 

This is where the role of Paul Hype Page & Co is evident. The incorporation process is one with which we are very familiar. Whether you are a local or a foreigner, you will obtain a great many advantages through the use of our incorporation services. Through them, your company will certainly become stable and successful as you continue with your business ventures in Singapore.

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Singapore Company Incorporation Requirements

There are specified requirements which one must fulfill before starting a business in Singapore. These requirements include a selected name which has received approval from ACRA, a local director who is also a resident of Singapore, a number of shareholders which is between one and 50, a local address which has been registered for administrative purposes, a company secretary who is to be hired within six months of the date of incorporation of the company, and a sufficient amount of paid-up capital for the company. 

One should note that the cost of incorporating a business in Singapore primarily depends on the type of business that is to be set up as well as the residency of the owner and several other factors. 

Certain business entities are more economically viable in Singapore than others. Several business entities will help in maximizing the revenue of a company. By registering a company as a private limited company, a sole proprietorship, or a limited liability partnership, a business owner in Singapore may be more likely to gain significant economic benefits. 

Another fact is that there are several benefits of having a company incorporated in Singapore such as:

  • Ability to secure loans easily,
  • No hustle with regulatory authorities. You get peace of mind and time to concentrate on your business when you have no worries of running into trouble with the authorities.
  • Trust from prospective customers. Business associates like creditors, partners also trust their dealings in the hands of legally recognized companies.
  • Protection by the judiciary and legal systems. You can only present your cases like theft or unfair business dealings, and be heard in a court of law if your company is incorporated.
  • Only an incorporated company can apply for insurance, and
  • You can only qualify for government packages like schemes if legally recognized.

Summary

In summary, Singapore is a country that can claim to have a high level of ease of doing business which therefore leads to many business owners and entrepreneurs choosing to conduct business operations there. Incorporating a company in Singapore is a viable idea because it is one of the countries with favorable business conditions as well as a low tax rate and many tax incentives. 

Basic Facts About Incorporating a Singaporean Company FAQs

What are the myths about company incorporation in Singapore?2020-11-23T16:29:50+08:00
  • The company incorporation process is complicated. However, this is not true because the steps and required documents are clearly stated.
  • Getting the certificate of company incorporation takes a long time. This is not true, how fast you get your certificate within the time frame stated, depends on the accuracy of your documents. It also depends on the level of seriousness you put in the process, by getting the necessary approvals done in time.
  • Taxation rates are high. The truth is that tax rates in Singapore especially the corporate taxes are one of the lowest in the region.
Why would a foreigner choose Singapore as a business destination over other jurisdictions?2020-11-23T16:23:39+08:00

foreigner should choose Singapore as a business destination because it offers an affordable lifestyle, the weather is good and there is the ease of doing business as compared to its competitors, like Hong Kong. 

What are the basic facts in having a company incorporated in Singapore?2020-11-23T16:23:20+08:00
  • The company is recognized as a legal entity.
  • A legally recognized company is entitled to several benefits such as:
  • Tax reductions and exemptions where applicable,
What is the role of ACRA company registration in Singapore?2020-11-23T16:21:51+08:00

ACRA, the Accounting and Corporate Regulatory Authority, is the government body responsible for the registration of companies in Singapore. It stipulates compliance requirements such as required documents, applicable fees, prohibited business activitiescompany &company name registration, basic company operation requirements among other things. 

2021-01-27T17:30:52+08:00October 24, 2014|0 Comments

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