When thinking of a place where it is best to form a business, Singapore is one of the topmost choices. Its supreme infrastructure as well as highly progressive telecommunications and Internet sectors make it a popular choice for business owners. These are the factors why there are a lot of local and foreign owned companies in the Lion City nowadays.
To be able to register a company in Singapore, adherence to basic legislative requirements of company formation should be carried out. There are certain legal procedures that a business entity ought to go through in order to make its name, nature and processes legal.
There should be at least one shareholder (local or foreign), one director who's at least 18 years of age as well as a company secretary who has been employed with the company within 6 months of its incorporation. It must have a local registered address as well as a minimum paid-up capital of 1 Singaporean Dollar. The business name must be approved and with no offensive language. For specialized businesses such as those related to education as well as childcare, presentation of valid licenses and permits is necessary.
Since there are complexities in the details to be done, accomplishing of the aforesaid requisites can be deemed tedious and difficult . Therefore, the person who shall be assigned to do this task should be experienced enough to know the intricacies of the whole process. Otherwise, there's a danger of making an error which would result to having to spend more than the required fees. Needless to say, there will be waste of time when there is a need to re-do the process.
Foreign nationals who want to form a company in Singapore require the services of a consultancy firm to carry out these tasks. These third party firms are competent not only at tackling undertakings such as this, but they're also able to provide appropriate solutions associated to company registration.
With the requirements of company registration being handled by a competent corporate services agency, the company owner therefore can focus on other essential matters related to the launch of the business, the marketing and sales aspects, constant product development as well as the organizational management aspect, among others.
To be able to register a company in Singapore, adherence to basic legislative requirements of company formation should be carried out. There are certain legal procedures that a business entity ought to go through in order to make its name, nature and processes legal.
There should be at least one shareholder (local or foreign), one director who's at least 18 years of age as well as a company secretary who has been employed with the company within 6 months of its incorporation. It must have a local registered address as well as a minimum paid-up capital of 1 Singaporean Dollar. The business name must be approved and with no offensive language. For specialized businesses such as those related to education as well as childcare, presentation of valid licenses and permits is necessary.
Since there are complexities in the details to be done, accomplishing of the aforesaid requisites can be deemed tedious and difficult . Therefore, the person who shall be assigned to do this task should be experienced enough to know the intricacies of the whole process. Otherwise, there's a danger of making an error which would result to having to spend more than the required fees. Needless to say, there will be waste of time when there is a need to re-do the process.
Foreign nationals who want to form a company in Singapore require the services of a consultancy firm to carry out these tasks. These third party firms are competent not only at tackling undertakings such as this, but they're also able to provide appropriate solutions associated to company registration.
With the requirements of company registration being handled by a competent corporate services agency, the company owner therefore can focus on other essential matters related to the launch of the business, the marketing and sales aspects, constant product development as well as the organizational management aspect, among others.
About the Author:
Click for further information on Accounting or Audit.. This article, Important Things To Know Before Setting Up A Company is available for free reprint.
No comments:
Post a Comment