It is important that entrepreneurs who are planning to register a company in Singapore are knowledgeable enough on what things are much needed for the registration. To have a fast business operation, knowledge about registration process is important. Singapore, being a pro-business locale attracts a lot of investors, businessmen and professional to come into the country and try exploring the business opportunities available. Here are some basic factors you should consider in registering a company in Singapore.
Company Name: A good and desirable company name that should be approved by the Accounting and Regulatory Authority (ACRA).
Shareholders: It is valid if the company do have at least one corporate or individual shareholding and a maximum of 50 shareholders. Shareholders are not required to be pure foreigner but a combination of resident and foreign is acceptable. There is no private issues in the details of directors as they are made available to the public.
Directors: It is required to have at least a minimum of one director who should be a resident of Singapore which means a Singapore citizen, Singapore permanent resident or Entry Pass|Employment Pass holder with a registered address.|It is also a requirement that one of the directors is a permanent resident pass holder in Singapore.|One of the directors should be a Singapore permanent pass holder.} Directors should be 18 years of age and should not have a history of bankruptcy.
Company Secretary: The appointed secretary should be a resident in Singapore within six months of incorporation.
Share Capital| Paid-Up capital: The government of Singapore requires a minimum of S$1 paid up capital upon registration. One share of par value is the minimum issued capital They don't allow "bearer" shares or "no par value" shares. Government of Singapore allows increase of paid up capital anytime right after incorporation of company.
Registered address: The registered address must be a physical address and cannot be a P.O Box. Usage of residential address is allowed anytime depending on the type of business to be registered.
Memorandum and Articles of Association: ACRA is the agency that should provide Memorandum and Articles of Association. The Memorandum specifies the activities in which the company may involve. On the other hand, the Articles of Association states the rules carried out by company's internal management.
Consulting an authorized business registration firm in Singapore will make a big impact on the process of business registration. Entrepreneurs around the world are very much welcome in Singapore and they are willing to assist or help each one of them as much as they can.