Registering a company in Singapore is a great way for entrepreneurs or investors to start their business. Company incorporation in Singapore and other such similar initiatives can offer individuals many different kinds of benefits such as offshore asset protection, enhanced privacy, confidentiality, and tax savings. It also gives you the opportunity of growth and expansion of your business activities outside of your home country. Choosing to do business in Singapore and register a Singapore company is one of the best business decisions you will make.
There are a lot of steps you have to take and factors to consider if you want to establish a Singapore Company. For this, it is a good idea if you search extensively online by going to relevant websites. For example, seeking approval from the Ministry of Manpower to register a company in Singapore is strongly advised because even if you manage to register a business with ACRA with success, you may be denied an application for a pass subsequently by MOM. There is no limit to the number of companies a for foreign entrepreneur wishes to incorporate in Singapore, and he is allowed to have one hundred percent complete ownership of such companies.
Everyone knows that Singapore is a business hub. It has a population of more than 5.3 million persons. This is why it is so easy to access the business sector. Coming down to the specifics, for registering a private limited company in Singapore, then the requirements of such a process are as follows: For registration of company Singapore, the company should consist of at least 1 shareholder, 1 director and 1 company secretary. All of the shares can be held both by a foreign corporate or an individual shareholder.
From these members, it is necessary to have at least 1 director who is also a resident/citizen of Singapore having either a Singaporean permanent resident (PR) or a valid Singaporean work pass holder. So if you’re a foreigner you should be provided with a work pass and thus be able to act as your company’s resident nominee director. A shareholder in your company can also function as a director while the sole director can also function as the sole shareholder. It is necessary for the company secretary to be a citizen/resident of Singapore, and a sole director cannot hold the title of the company secretary at the same time.
For a private limited company to be set up in Singapore, the law states that the minimum starting paid-up share capital is 1.00 Singaporean dollar. P.O. Box addresses are not allowed for Singaporean private limited companies. Such business entities are provided by the government with registered offices addresses located in the prestigious central business region/district. It is also a good idea to have a consultancy firm or agencies guide you when starting a company in Singapore.
These firms offer a range of services such as briefing you on the best utilization of your finances, providing assistance and solutions to all the problems you may be facing, explaining all the technical terms, and legal policies that you will have to adhere to, as well as the letting you know about the current opportunities that are available in the Singaporean environment. There are also many universities in Singapore that offer you training in how to run a business efficiently and build long lasting productive relationships with your customers that will eventually translate into sales.
Paul Hype Page & Co – Acra service provider and Asean Chartered Accountant.
Paul Hype Page & Co. have 3 physical offices in Singapore, Malaysia and Indonesia
Our Firm Goal is to assist Foreigner and Foreign Companies to set up business in Asean.
How we can help you:
We will call you back, please click below link and make appointment with our Sales consultant:
Step 1- Listen to your Business plan and Relocation needs.
Step 2- Analysis your Singapore Tax Planning
Step 3- Recommend the most suited type of Company Incorporation , Open Bank account and
Step 4- Arrange for your Spouse and Children Visa
Step 5- Assist as your company to hire staffs and handle all HR matters
Step 6- Every financial year end, we assist you with your yearly Acra Financial and Tax Compliance
Step 7- Assist you to expand business to Malaysia, Indonesia , Vietnam and Thailand.
Get in Touch with Us Today.
Paul Hype Page
Categories: Singapore Incorporation and Company Registration