Singapore has easily become one of the most popular places where one can establish a business. An increasing number of off-shore companies are setting up their offices here because of the offer of a great environment that is very conducive to doing business. Discussed below are some pointers and benefits that future entrepreneurs may be able to enjoy when they choose to start their company formation in the Lion City.
Singapore is acknowledged as having highly advanced technology when it comes to infrastructure in the whole of Asia. Its state-of-the-art telecommunications as well as modern public transportation facilities are truly comparable to the best in the global scene. Given these strengths, specialists now believe that it's the Asian country with the highest living standards.
Being an international business center, it boasts of a stable economy and a forward-thinking political environment. Singapore is known to be a highly regulated country whereby everything is in order, especially in terms of the business sector. Having been considered as one of the least corrupt countries, it continues to draw foreign investors in to form their own business.
The SCA or the Singapore Companies Act is the governing statute of Singapore's businesses. It will be best to start off by acquainting yourself with the SCA and its provisions. The duration of the entire business registration process is dependent on the type of business and the industry where it belongs. The registration requirements are quite easy to gather and accomplish which should be presented and tendered within a specified duration of time.
One of the requirements is that there is at the very least one shareholder, one director and one company secretary. Foreign or local shareholders are allowed. As for the director, he or she should at least be 18 years of old, a national or permanent resident of Singapore, although, Singapore Employment Pass holders are also permissible. The company secretary should be a Singaporean resident and must be hired in the company within the first six months of its incorporation. There must also have a local business address as well as a minimum shared capital of $1.
Singapore is acknowledged as having highly advanced technology when it comes to infrastructure in the whole of Asia. Its state-of-the-art telecommunications as well as modern public transportation facilities are truly comparable to the best in the global scene. Given these strengths, specialists now believe that it's the Asian country with the highest living standards.
Being an international business center, it boasts of a stable economy and a forward-thinking political environment. Singapore is known to be a highly regulated country whereby everything is in order, especially in terms of the business sector. Having been considered as one of the least corrupt countries, it continues to draw foreign investors in to form their own business.
The SCA or the Singapore Companies Act is the governing statute of Singapore's businesses. It will be best to start off by acquainting yourself with the SCA and its provisions. The duration of the entire business registration process is dependent on the type of business and the industry where it belongs. The registration requirements are quite easy to gather and accomplish which should be presented and tendered within a specified duration of time.
One of the requirements is that there is at the very least one shareholder, one director and one company secretary. Foreign or local shareholders are allowed. As for the director, he or she should at least be 18 years of old, a national or permanent resident of Singapore, although, Singapore Employment Pass holders are also permissible. The company secretary should be a Singaporean resident and must be hired in the company within the first six months of its incorporation. There must also have a local business address as well as a minimum shared capital of $1.
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