Key Steps To Singapore Company Formation

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Singapore has been considered a global city because of its notable growing economy. Being considered as a global city, Singapore continues to be a favorite tourist destination and job seekers hotspot. Also, adding to Singapore’s popularity, it has gained a good reputation as a pro-business country worldwide. The country was also recognized as the leading country in 2010 World Bank’s Doing Business Report by World’s Easiest to Do Business.

We are providing basic information for business entrepreneurs who are seeking for a globally competitive advantage. If you are one of the businessmen searching for answers on Singapore company formation, then you have come to the right source.

These are the steps to Singapore company formation:

  1. Singapore Companies Act does not allow foreign individuals or entities to self-register a company. You can engage Rikvin, Singapore’s leading incorporation specialist, to set up your company.
  2. Provide all necessary documents for registration and follow all requirements for quick processing. We have prepared some of the common requirements below.
  3. Appoint a Singapore resident to be the director of the company. A Singapore resident can be a Singapore citizen, permanent resident or holder of an EP or EntrePass. In the event that you are unable to appoint a Singapore resident director, Rikvin can provide you with one through our Nominee Director service. The service can be temporary or long term depending on your needs.
  4. Provide a Singapore address as the registered address for the company. Alternatively, you can also engage a Registered Address service through Rikvin.

To make the information complete, we are giving you additional requirements for your Singapore company formation checklist.

  • Company name: The company name must be unique, desirable and must be approved by Accounting and Corporate Regulatory Authority (ACRA) of Singapore.
  • Shareholders: You are required to have a minimum of at least one corporate or individual shareholding and a maximum of 50 shareholders. Shareholders can either be 100% foreign or a combination of resident and foreign shareholders. Remember that details of directors are made publicly available.
  • Company Secretary: you are required to appoint a company secretary who should be a resident in Singapore within six months of incorporation.
  • Share Capital/Paid-up Capital: The minimum paid-up capital for registration of a Singapore company is S$1 or its equivalent in any currencies. The minimum issued capital is one share of par value. "Bearer" shares or "No par value" shares are not permitted. The Share or paid-up capital can be increased anytime after incorporation of the company.
  • Memorandum and Articles of Association: Memorandum and Articles of Association must be lodged with ACRA. Memorandum specifies the activities in which the company may engage whereas the Articles of Association specifies the rules governing the internal management of the company.
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Shayne Hughes has 129 articles online

Rikvin provides a full spectrum of corporate services under one roof for Singapore company registration, assistance to form a Singapore company, accounting, tax, work pass and related compliance services for individuals and companies worldwide.

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Key Steps To Singapore Company Formation

This article was published on 2011/08/12