Monthly Archives: April 2015

Singapore Company Registration

Singapore has an outstanding reputation as far as business field is concerned. The government provides a well-structured tax exclusions as well to companies enumerated with them. For that reason, entrepreneurs are moving to Singapore with numerous business proposals. The government of Singapore, according to Singapore Companies Act, permits any individual who is above 18 years to register a company. Nevertheless, several companies in Singapore have been registered as private limited companies. This is because it is a tax efficient corporate frame and none of any shareholders will be liable to company’s debts going beyond the capital they hold.

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There are some things which one should consider before approaching the government for business registration.

  • The company should have a valid Singapore address, not a P.O box.
  • The government ought to approve the company’s name.
  • The company may have any number of directors, nonetheless at least one ought to be a Singapore citizen.
  • The company is not a must to have an authorized capital. Nevertheless, a minimum share capital of $1 should be accounted.
  • The company should appoint a Singapore resident as the Company Secretary.
  • Foreign citizens do not need any special Singapore visa in case they wish to incorporate a company there. Nonetheless, if you plan to relocate, you will require an Entrepreneur pass or Employment pass

When these things are all in place, one can now proceed with the registration procedure. At registration time, the registrar would needs the Company name, a description of the activities to be carried out by the business, details of all shareholders, a registered address, company secretary as well as the directors and the Memorandum and Articles of Association. Every person involved in setting up the company should also provide an identity proof.

Singapore Registrar of Companies do have a computerized process which makes registration process simple and efficient procedure. Filling an application form with the Registrar finalizes the company’s name approval or rejection within an hour. After that, registration process will take a few hours’ time as long as documents are kept ready. The process is completed with a registration fee of S$300. For faster approval of the company’s name, the name ought to be new and should not similar to an existing company. The uniqueness guarantees faster approvals.

When done with company registration, the Registrar then sends an email informing process completion and the mail contains the registration number. This is now the official incorporation Certificate. Likewise, the Business Profile will be passed on by mail as well. In order to get the hard copy of the certificate, small fee is payable at the Registrar’s office

Since the whole Singapore company registration process is computerized and well-organized, it is extremely time-saving. Moving to Singapore for business niches is a wise decision for many people due to the pros in terms of tax as well as the efficient bureaucratic procedures.

Setting up a company in Singapore

Singapore is a crucial link between the western and the east hemispheres due to its strategic geographical location. It’s a city that has been chosen as the regional headquarters of major multinational companies primarily due to its extremely favorable business environment. This is why this multi-cultural ultra-modern cosmopolitan city state has one of the largest populations of foreign workers in Asia. This remarkable influx of foreign expertise is made possible by the flexible immigration laws in place within the island city state.
Singapore is a centre of global commerce welding substantial economic clout within Asia and the world as a whole. Businesses setting up shop within Singapore leap immense benefits in the form of free trade agreements, double taxation exceptions and numerous trade incentives that ensure an environment conducive to unparalleled business success.

The Online business registry
Before setting up a company in Singapore, one needs is to register the business at the Bizfile site, an online registry run by the Accounting and regulatory authority. The site will offer the necessary financial and legal services a business requires in order to start full scale operations. The site registers all forms of business venture, regardless of whether the business is a foreign branch of an already existing company or a business start-up beginning from scratch.

The Bizfile site will have links to the Monetary Authority of Singapore which deals with business intending to operate in the banking, insurance and other finance related sectors, the Attorney Generals Chambers which handles all the legal aspects of the registration process and the International Enterprise Authority which deals with businesses intending to operate in the manufacturing, franchise and numerous other service industries. The online business registry ensures that businesses are able to register in the least time possible, with the least hassle and with the highest level of compliance to regulations.

Additional benefits of setting up a company in Singapore
Businesses benefit from a wide array of premium facilities from which to operate. These include offices located in the towering sky scrappers at- heart of the city’s civic business district, spacious factory facilities located in the city’s industrial zones and offices housed in converted residential abodes located in expansive suburbs of the Singapore. An extensive modern and optimally regulated transport infrastructure ensures workers get to work on time, products and services reach their destinations on schedule and business operations run at maximum capacity all year round. The city state’s immense population is guaranteed to quench the workforce requirements of any business regardless of the level of expertise required. Singapore is indeed the place to be in Asia.

Business Singapore: Setting up a Business in Singapore

Recently the World Bank enlisted Singapore as the globe’s most business friendly economy, and setting up a business in Singapore is quite simple. New companies need to register with the Accounting and Corporate Regulatory Authority (ACRA), who offer an online application portal known as BizFile.

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Registration fees for starting a business in Singapore

In Singapore, ordinary fees for setting up a business total no than $30 or $50 (roughly 60 SGD), and applications are usually processed within fifteen minutes of the fee being remitted. But, a wait of up to two hours can occur if the application requires to be sent to any ministry for review.
Regulations for starting a business in Singapore Limited businesses are the most common set-up in Singapore, and there are a few requirements to be followed for both foreign and local investors.
The director – The director with any Singapore company setup should be a citizen or lasting dweller of Singapore. Must be above eighteen years and not bankrupt.
The shareholder – The law allows for not more than fifty shareholders for any business setup. They could be entity or individuals.
The company secretary – A Singapore business needs to have a secretary. He or she should be appointed within 6 weeks of the business incorporation and need to be dweller of Singapore.
Laws and regulations

The World Bank and IFC website have a full list of laws and civil procedure codes on the matters of credit and business, company and commercial, building and labour, securities, trade and tax.

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The Singapore Statutes Online web is also important as it has a full list of statutes. It is important to educate yourself before making an investment so as to avoid any mistake or confusion when the business is up and operating.

Permits and licenses

Generally speaking, there’re 3 types of license depending on the business model:

Occupational – for organizations that offers professional services like financial planners or doctors.

Compulsory – they are for liquor distributors, moneylenders and travel agencies.

Business activity – they are for people dealing with controlled products, hiring foreign workers or exporting goods.

It is important to obtain the right license for your company to avoid running into issues from the word go. The law states that, in order to set up a business in Singapore, the company must have one movie director, one company assistant and not less than one shareholder.

With these few tips, you are ready to start your own business in Singapore. Don’t waste the opportunity.

Requirements and considerations required to register company Singapore


Unlike many countries, Singapore has a tax system which is flexible, has less bureaucracy and unique infrastructure which makes it a prestigious place to establish a business. Just like in almost all countries in the world, when setting up a business, you must register it with the government of that country. Singapore is no exception. Foreigners are usually most affected when they try to register company Singapore because they have to adhere to certain requirements and make certain considerations before deciding to set up. The most common legal form of business that foreigners in Singapore can register is a private limited company. Citizens are however free to register any type of business.

One requirement to adhere to when you register company Singapore is that the business can have a minimum of one shareholder. Total foreign ownership is allowed and therefore shareholders can all be foreigners. Another requirement is that one director of the company must be a resident of Singapore. A foreigner with am employment pass is legible. Another one is that one of the company secretaries has to be a Singaporean resident and must be qualified for that position. Another requirement is that you must have a Singaporean registered address for the company that you are registering because post office addresses are not used.There are several considerations that you must make when you want to register company Singapore. You must consider the choice and definition of the activities of the company. This is because some activities are controlled by the Singaporean state authority and such activities require licenses and permits. This consideration should be made mostly by businesses in the banking, insurance, education and food and hospitality industries. You must also consider the name that you chose for the company and very if it is unique. This is because a name that has already been registered by someone else will not be approved.

You must also consider the amount of paid-up capital required for your particular business. You can incorporate a company with capital amount that is a slow as a dollar hence some businesses are required to have a specific amount of paid-up capital or more. For instance a tourist business is required to have $100,000 or more of paid-up capital. You must also consider your shareholders and ensure that at least one is a Singaporean resident. Directors are also an important consideration or any business that is setting up in Singapore. You must also consider all the required documentation required when registering a business in Singapore.

Register Company In Singapore – Important Facts Regarding Company Formation

If you would like to register company in Singapore, then you would certainly be interested to note that the majority of companies in the region are registered as private limited companies. This means the company will operate as a separate entity. As a result, shareholders have nothing to do with the debts of the company particularly when it goes beyond the share capital amount contributed.

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When it comes to the name of the company, it ought to get approval before incorporation is done. Also, you will need to have at least one resident director and this must be a citizen who resides in Singapore permanently. Remember, this is a mandatory requirement although no limitation is put on the number of extra foreign or local directors that can be appointed. Even so, directors of the company must be 18 years old.

If you have decided to register company in Singapore, the company is allowed to have between 1 and 50 shareholders. However, a shareholder can be a director and vice versa or they can act as different persons. A company is also allowed to issue new shares or transfer already existing shares after the company has completed the incorporation procedures successfully.

A company is also expected to appoint a highly skilled company secretary. This should be done within six months of incorporation. Most importantly, a sole director or a sole shareholder can take on the role of company secretary as well. A company secretary is expected to be a citizen of Singapore.

Yet another requirement is a registered address. To incorporate a company in Singapore, it is a mandatory requirement that you provide the authorities with a local address of your company. The address should ideally be an address of the physical location of the company. So, it could either be physical commercial or residential address. P.O. BOX addresses are not allowed.

On matters involving taxation, you will be glad to realize that registered companies in Singapore enjoy highly attractive tax incentives and exemptions. As a result, your company will pay under 9% for the initial S$300,000 of the yearly profits and a 17% flat rate thereafter. You will also be happy to learn that there are no dividend taxes or capital gains taxes if you register company in Singapore. The business enabling environment and the superb tax benefits are some of the main reasons why many entrepreneurs from all over the globe prefer to set up their companies in Singapore.

REGISTERING A COMPANY IN SINGAPORE

Singapore is an Island country in Southeast Asia. It is a country that offers good business environment for both for locals and foreigners. Singapore is fast becoming the mark of future business and foreign investments due to its emergent economies. Due to the generous and relaxed policies for registering companies more people are attracted to Singapore for investments. Whether you’re an individual or a company, the procedure to register company in Singapore is simple.

starting-up-company-SG
Foreign and local business people over 18 years of age, can set up and register company in Singapore. Foreign persons are banned business or company, it is a obligatory requirement to take on firm.
The agency responsible for the registration for the company in Singapore is the ACRA. All applications are done online through Bizfile ACRA’s recovery system.
To start a Limited Company in Singapore, the following steps are required:
1. Eligibility requirements: prior to registration of a private limited company at the Singapore Registrar of Companies, there are certain things that must be measured. The corporation must:Have at least a director who must be a Singapore Citizen, Permanent Occupant in Singapore, a pass holder.Have a Singapore local address for the place of business.

2. Set up an approved name for the company. Swift tips for a flourishing approval is a name that is not obscene, is not related to an existing Singapore company name, is not already held in reserve and does not have any trademark infringements.

3. When the name has been approved, then the Certificate of Incorporation process takes place. A registration fee is requisite. Filing documents include a range of forms that require a Memorandum and Articles of Association (“MAA”) which outlines the company’s by-laws, organization and business activities. A Certificate of Identity, a Declaration of Compliance, office registered hours and the Director’s and top staff identities are additional information to be filed. Whatever registration firm that is chosen to represent a new business owner, will supply the necessary incorporating forms needed.

The entire registration process is automatic and efficient, the registration is extremely time-saving. Relocation to Singapore for business opportunities is a shrewd option for most of people due to the advantages in terms of tax and also the efficient bureaucratic processes. There are many benefits to registering a business:

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1.The attractive tax regime makes Singapore a great investment destination.

2.Avoidance of double taxation Agreement is present for internationally trading companies.

3. Strategic location of Singapore in International trade.
There numerous advantages to registering a company in Singapore. Be wise to start now.

How to register a company in Singapore

Company registration is quite a simple task. The biggest part lies with the conceiving and planning one. A lot of people have been filled with alacrity and enthusiasm in forming companies. The formed companies end up rendered dormant and non-operational. This is quite questionable and the reason for that should be well looked into. It is supposedly poor planning of the feasibility of the whole project. There is a notion that owning or having a company renders one affluent but that is ill advised. There is more than what meets the eye in how to register a company in Singapore.

starting-up-company-Singapore

First of all, you have to know that huge amount of cash is going to be injected into the project. If little or lame commitment is given into it, it will lead to a total loss. In all that, it is always encouraged that people become entrepreneurial and form companies and businesses that will increase the economy. In looking at how to register a company in Singapore, it will be easier for one to buy the dream.

First, it will be necessary for a person to have decide the kind of business entity or form that he/she will take on. Be it a sole proprietorship, a limited liability company, a limited liability partnership, or company. It is very necessary to decide after proper research which entity work best for you. This will also lead to the success of a company.

The next process in how to register a company in Singapore is choosing a name for you company. The name is the identity of a company. Therefore, it will require proper research before coming up with one. First, a person should be able to research if the name already exist. This is because it legal rights require authenticity.

Next would be to add an appropriate suffix to your company name like L.LC, L.L.P, Co. A sole proprietorship does not require a suffix. A person will then proceed to outline an operating agreement for the company in question. A sole proprietorship would be exempt to this. This will entail drawing or outlining policies for the company, payment of partners and the division of duties. Finally, a person will proceed to file all registration and tax with appropriate national agency or state. Normally for a sole proprietorship it will entail registration of a business name and publicizing. All this steps also cut across in other countries. It is not difficult to know how to register a company in Singapore.

Company registration Singapore: Regulations and procedure

Singapore has a sustained reputation as a premier business destination for most overseas investors. The government has well designed tax exemptions and has over the time created a conducive business environment. Anyone who is above 18 years is legally accepted to register a company in Singapore. Most companies registered there are privately owned limited liability companies whose owners are not liable to the company’s debts beyond the share of the capital they hold. That makes it easy and attractive to start a company there. That said, it is important to look at the broader subject of company registration Singapore: Regulations and procedure . This will greatly help you register a company with great simplicity.

Business people work

Before approaching the Singaporean government to register a company, there are a few things that you ought to take care of as seen below:
i) Ensure that the government approves the name of the company you wish to register.
ii) You ought to acquire a Singaporean address for the company, not a PO box.
iii) At least one of the company directors must be a Singaporean. There can be a limitless number of directors.
iv) A citizen f Singapore must be appointed as the company secretary.
v)Though there is no authorized share capital, a minimum share capital of $1 must be accounted.
vi) If you are a foreign national and wish to just incorporate a company there, you do not need a special visa. However, if you wish to relocate there, an Entrepreneur’s pass or Employment pass is mandatory.

starting-up-your-company-in-SG

Once the above things are taken care of, the registration process can begin without much complexity. The registrar of companies will need the company name, the description of business activities that the company will be involved in, particulars of the directors and company secretary, details of the company’s shareholders, a registered address and a memorandum and articles of association. Each director and shareholder should also supply a proof of identity.

Company registration in Singapore is computerized, which makes it very efficient. After an hour of filling an application form, the name approval/rejection is completed. If approved, you are required to pay a registration fee of $300 and submit the required documents. Within a few hours time, the process is complete and the registrar sends an email notifying the registration of the new company. The email includes the company registration number as well as a business profile. To get a hard copy of the registration certificate, a small fee is payable at the registrar of companies.

Singapore Company Incorporation – Requirements And Procedures

Singapore is popularly known for its business enabling environment. This is the main reason why people from all over the globe are setting up companies in Singapore. Local citizens and foreigners alike can a register their own companies in Singapore as long as they are 18 years old and above. Furthermore, all Singapore company incorporation requirements and regulations must be met. When incorporating a company in Singapore, it is advisable that you enlist the services of professionals in the field as this makes the procedures a lot easier.

The majority of companies established in Singapore are mostly private limited companies. This means the company is run like a separate legal entity. Consequently, the company puts a limit to the liabilities and debts that shareholders are expected to settle. Therefore, shareholders are not made accountable as far as the company debts are concerned.

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Singapore company incorporation is an efficient and quick process since all aspects are fully computerized. As a matter of fact, it can take utmost two days to fully incorporate a company in Singapore. Continue reading to find out some additional important points to keep in mind prior to starting a company in the region.

Certain business activities could experience further control by the registering authority in Singapore. Consequently, you may find it necessary to secure the relevant licenses and permits. Such requirements mostly apply banking institutions, insurance companies, recruitment agencies, restaurants, bars, private educational institutions, and financial institutions. Also, special requirements apply for businesses importing goods into the country. The same applies to companies engaging in the manufacture and sale of liquors and food items.

The choice of your company also matters a lot in the verification process. Therefore, have at least three variants of the company name. So, if your first choice cannot be approved for one reason or another, the others can be considered. Some of the reasons that may lead to a company name not getting approval include trademark infringement, patent infringement, indecency and many others. Company names that contain words like tourist agency, school, financial institution and bank may require additional approval and acceptance by the authorities involved with company registration.

Singapore company incorporation procedures are done online. As a result, the process could take a few hours to a couple of days. Nevertheless, this period is largely dependent on certain key factors like the approval of the company name as well as the preparation of the relevant and signing of the documents.

Company Incorporation In Singapore – Important Points To Remember

Singapore is one of the most prestigious and favorable regions for people who wish to establish their business enterprises thanks to the flexible taxation system, minimal bureaucracy, and unique infrastructure. If you are contemplating setting up your business enterprise in Singapore, you will learn that the most popular legal form that is most suitable for the foreign investors is a private liability company. So, remember this as you go through the procedures of company incorporation in Singapore.
There are lots of benefits of setting up a private liability company particularly for the foreign investors. Unlike a sole proprietorship or a partnership, a private company safeguards your personal assets. In the case of a limited company, dividend tax or capital gains tax does not apply here.

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Requirements for Company Incorporation in Singapore:
1. At least one director must be a Singaporean citizen or a permanent resident of Singapore. Remember, there are no limits when it comes to the number of directors whether foreign or local.

2. The company is also expected to have a highly qualified company secretary who must be a permanent resident of Singapore. Specifically, the appointed company secretary should be experienced in maintenance, control and custody of company documents in accordance to Singaporean laws.

3. The registered company address should also be a physical address. A P.O. Box is not allowed. So, you can register either a residential or commercial physical address.

files-for-company-registrationOnce you are certain you are ready to incorporate your company, the procedures are split up into three phases namely the preparation stage which consists of approval of the name of the company, preparation of documents and signing of key documents. The second phase has to do with submission of actual application of company incorporation to the relevant authorities. The third and final phase comprises of opening bank accounts and obtaining relevant licenses and permits if required.

Remember certain business activities may be required to undergo further control measures by the relevant registering authority. Therefore, it may be necessary to obtain the necessary licenses or permit. These requirements are vital for financial institutions, banking institutions, recruitment agencies, bars, restaurants, touristic agencies, and insurance companies.

During company incorporation in Singapore, some special requirements may be put in place for business entities that import various goods to Singapore. This also applies to companies that engage in manufacture and sale of goods like liquor and foodstuffs in Singapore. Therefore, get all the relevant information prior to starting a company in Singapore.