Company Registration Singapore - Basic Guide
Being considered as a global city, Singapore continues to be a favorite tourist destination and job seekers locale. Even more significantly, Singapore has gained a good repute 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.
If you are one of the businessmen searching for answers on how to start a Singapore company, then you are absolutely on the right page!
Preliminary Steps for Company Registration Singapore:
- Examine Singapore’s economy and the benefits of Singapore’s corporate taxation. A thorough study of the stability of Singapore’s economy and a presentation of the advantages and disadvantages of setting up a Singapore company should be listed as your number one concern since this would form a significant part in your decision making. Note that start-up companies pay Zero tax on the first S$100,000 of chargeable income for the first three consecutive years. A further 50% exemption is given on the next S$200,000 of the chargeable income.
- Check the Setup Requirements for Singapore Company Registration.
- Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary
- Minimum initial paid-up share capital is S$1
- Singapore Company must have a Singapore registered office address
3. Check the Important Considerations Before Incorporation. This includes a unique and desirable company name, a minimum of one individual shareholding, a minimum of one director, Singapore resident company secretary, a minimum paid-up capital of S$1 or its equivalent in any currencies, a registered address and company’s Memorandum and Articles of Association.
4. Hire the Services of a Business Registration Firm. Foreign individuals and companies are required to engage a professional firm in facilitating the business registration process.
5. Identify What Type of Work Visa is Needed. Foreign individuals and companies should also examine the type of work visa needed. Work visa can either be an EntrePass or Employment Pass.
The mentioned steps are just preliminary information for you to take note. If you have concerns, inquiries and doubts in the procedure, you should communicate with an authorized business registration firm.
Rikvin provides a complete corporate solution under one roof for company registration Singapore procedure and/or assistance to start a Singapore company, 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.
Article Source: i2 Article Directory (www.i2articledirectory.info)