It has been known around the world that Singapore is esteemed as the most business friendly country..It provides wide range of business opportunities for entrepreneurs both local and foreign. In connection to this, there is a steady growing numbers of company installations in Singapore that contributed to its approving economic status.
It is easily spotted that private limited firm in Singapore is often the most favored business setup of foreigners.Singapore limited liability company is generally preferred because Singapore permits 100% foreign-owned shares in an organization to find most of the foreign entrepreneurs is useful for creating a Singapore limited liability company and owns 100% stake in capital, it is a separate legal entity that is separate from members to make commitments by Singapore company does not extend to its members. In the event of debts or liabilities of the private limited company, members’ personal assets remain protected, it’s easier for any Singapore company to raise capital in comparison with other business structures and it qualifies as a nearby resident entity and can benefit from Singapore’s low tax rates as well as other tax incentives.
These are the essential requisites for Singapore business registration:
1. $ 1 minimum for Paid up capital
2. Minimum of 1 local resident director (i.e. Singapore citizen, Singapore Permanent Resident or Singapore work pass holder) that is a natural person and above 18 years.
3. Minimum of one local or foreign shareholder.
4. Appointment of 1 local company secretary.
5. Accessibility to an organization registered address.
These are the documents to prepare for Singapore company registration. Please note that all documents must be officially accepted in English or translated into English versions.
1. The approved name of Singaporean company;
2. Formulate a proposal for a business that participates in the Singapore company;
3. For information with members of Singapore Association Council, the shareholders and the Secretaries of the company (eg name, address, nationality, etc.);
4. The company’s Memorandum and Articles of Association (MAA)
5. Copies of passport or identity Singapore (IC) copies of the proposed shareholders and directors;
6. Proof of residential address offered to non-resident shareholders and directors; and
7. Particulars from the parent corporation if the shareholder is really a corporate organization.
Note also that for foreigners to register a Singapore company, you need to employ the services of an authorized business registration firm in Singapore. This is for the reason that Singapore does not allow foreign individuals or entities to self-incorporate a Singapore corporation.
If you are a local resident you have the choice to self-register a Singapore company. Keep in mind that in case you are self-registering a Singapore corporation, all the directors, the organization secretary and shareholders must either be Singapore citizens, Singapore PRs or Singapore work pass holders.