When it comes to the incorporation of a company in the South East Asian nation, the first name that comes to one’s mind is Singapore. This cosmopolitan nation holds an excellent reputation for offering a set of advantages such as an outstanding tax system, flexible immigration policies, ease of doing business, transparent government policies, world-class infrastructure, high quality of life and so on and so forth. The process of Singapore company registration is relatively easy and devoid of cumbersome tasks, which in turn, attract a huge crowd of foreign business investors and entrepreneurs from all across the globe.
Step by step guide for incorporation of company in Singapore:
• The private limited company is the most preferred form of business incorporation in Singapore. The other choices are sole proprietorship and partnership. The private limited company is a separate legal entity from its owners and shareholders and they have limited liabilities for the debts and losses of the company.
• The process of company incorporation in Singapore begins with the selection of company name. The company name must be decent, unique and meaningful. The company is approved by ACRA (The Accounting and Corporate Regulatory Authority). It generally takes only one hour to get the name approved by ACRA if all documents are in order.
• Appointment of a resident director is mandatory whose age must be above 18 years and he/she should be a permanent resident of Singapore, citizen or holder of any of the passes (Enter Pass, Employment Pass or Dependent Pass).
• Minimum one or maximum 50 numbers of shareholders should be appointed in a private limited company in Singapore.
• The minimum paid up capital for Singapore company incorporation is $1.
• Having a registered office establish PMA company is compulsory for Singapore company registration. This address can be of official or residential, but P.O Box address is not entertained at any cost.
• After fulfilling all of the above-mentioned requirements, ACRA will furnish a certificate of company incorporation along with the registration number and company profile. This signifies the completion of Singapore business incorporation.
How an investor can reap the benefits of incorporating a company in the world’s most sought after business hub Singapore:
• One of the major advantages of incorporating a business in Singapore is its strategic location. The island nation has located the heart o