How To Form A Singapore Company

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Most foreign individuals, investors and companies considers Singapore as their number one choice for a company location worldwide. This preference became more convincing when Singapore was handed a # 1 position in the list of World's Easiest Place to have an account by World Bank, Easier Doing business Report 2010. Because of this, nearly all business enthusiasts would endorse investors to form a Singapore company.

Independent of the comfort of starting and establishing a business in Singapore, businessmen will also be provided favorable tax benefits and tax exemptions which has to be great help on any company especially on startups. Furthermore, foreign individuals would also be able to relish the exemplary total well being in Singapore.

There are many business entity available in Singapore, among that are private limited company, public limited company, public company tied to guarantee, sole proprietorship and partnership. Along with these business entities would be the persuasive business structures presented for foreign individuals and companies.

The foreign business structures include:

1.Branch office: A branch office is an extension of its foreign parent company and is not a separate legal entity. Liabilities extend to the parent company.
2.Subsidiary: A subsidiary is a Singapore private limited company and is a separate legal entity. Liability is limited to the subsidiary and does not extend to the foreign parent company.
3.Representative office (RO): A RO has no legal status and is a temporaryadministrativeoffice meant for conducting market research or co-coordinating activities. Liabilities extend to the foreign parent company.

When a decision has already been made on what business structure would suit your company's objectives and goals, it is important to complete the basic requirements in registering a Singapore corporation. This includes the requirements for paid-up capital, authorized capital, director, shareholders, company secretary and registered address. After the basic requirements are completed, you also need to submit the following documents:

1.The approved name of your Singapore corporation;
2.A brief description of the proposed business activities that your Singapore corporation will engage in;
3.Particulars of the Singapore corporation's directors, shareholders and company
4.The corporation's Memorandum and Articles of Association (MAA);
5.Passport copies or Singapore Identity card (IC) copies of proposed shareholders and directors;
6.Residential address proof of proposed non-resident shareholders and directors; and
7.Details of the parent company if the shareholder is a corporate body.

The submission of all the needed documents and requirements can either be made online or via post. There are two steps to follow in starting a Singapore company, securing name approval by filing an online application with the Companies Registrar and submitting the incorporation documents once the name is approved. Incorporation of a Singapore company can be very easy and quick as long as all the documents and requirements are available. Lastly, the minimal formalities in the procedure of registering a Singapore company is another plus factor if anyone wished to form a Singapore company.

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Shayne Hughes has 1 articles online

Rikvin is an ACRA registered service bureau. We provide a complete corporate solution under one roof to be able to form a Singapore company and process registration of private limited companies, formation of offshore companies with opening of corporate accounts, business registration including accounting, tax, immigration related to work passes visa and compliance services in Singapore.

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How To Form A Singapore Company

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This article was published on 2010/10/14