Registering a Company in Singapore
Singapore is a most expensive country but it is popular for attracting large number of foreign companies. Man y foreign companies wish to establish business at Singapore because of its low taxation. Moreover all the facilities provided by the Singapore government for registration and incorporation of their companies are good and excellent. All the companies in Singapore shall be registered as private limited companies with private limited liability. The companies shall have a separate legal entity. All the share holders are not fully liable for the company’s debts other than the share capital. Any person exceeding the age of 18 years can register a new company.
Many intermediaries help you to register your company with Singapore government companies act. But you need to pay fees for them in order to guide you aptly. If you could register your private limited company once, you could be able to get benefitted with low taxation. For registering a company with Singapore companies act, it has already formulated the initial and regulatory requirements before starting a company. You should be aware of all such rules and regulations before company registration.
The documents needed for making a are company name, business activities description, particulars of shareholders, particulars of directors, address where the company is going to start, particulars of company secretary, Articles and Memorandum of association which is provided by Singapore . If you are ready with all the documents prescribed, you can happily register the company with registrar of companies.
First name of the company shall be approved first to start your new company registration. The total system is computerized by the government. The process is so quick with all technological advancements and is very easy. You could not find the influence of bureaucratic red tape involvement during the whole process. Name approval and company registration can take place in one single day. At some times, after name approval they will give you nearly 60 days reserving your chosen name. After the completion of name approval, you should have to file the incorporation request from registrar of companies. Once if the documents are signed by the directors and shareholders, maximum company registration process will get complete. During the time of registration and , you need to pay $300 to Singapore Registrar of Companies for incorporating the company with limited private liability.
After the completion of all formalities, the Company registrar will send an email notifying the details of incorporation of the company. The email can be treated as Official certificate of incorporation in Singapore. If you wish it in hard copy, you can make request and can avail the certificate. For getting it in paper form, you need to pay $50, so that you can collect it on the next day from registrar’s office. After the completion of company’s registration and company’s incorporation, you shall have to open a corporate bank account in any one of the Singapore Major Banks. Some banks need your presence for opening an account and some do not need to open. If you could be the regular visitor of Singapore, wide choice of banks offer number of facilities and thus you can select the best of all wisely with all your wisdom and talent which shall suit your needs.