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.

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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.

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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.

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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.

Tips for Selecting the Best Company Incorporation Services Singapore

Now that you have made the decision that you want to start a company in Singapore, the other most important thing is to ensure that you understand all what is required. You need to take your time to understand all the requirements you should meet in order to start a successful company and succeed in this great country. To ensure that you do not waste a lot of time or stress yourself in the process, it is vital that you work with professionals to assist you during the incorporation process. There are many company incorporation services Singapore, so getting the best one should not be a major issue. There has been an increase in the number of the company incorporation services in Singapore due to the large number of investors who are coming into the country to start their businesses. The high number of investors coming to the country to start their business is as a result of the fact that the country offers conducive environment for investing for people from different parts of the world. The political climate in the country is also very conducive meaning that investors view the country as less risky to invest in.

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Working with the company incorporation service will ensure that you finish the project within a very short time. This helps you reduce the stress and also the risk of making mistakes that will lead to denial of your application. To ensure that you get the best services, it is vital that you do though homework because not all the company incorporation services Singapore that you find promoting their services can offer you highly satisfactory results. You need to have knowledge on how you can determine the company incorporation services Singapore that offer the best results and those that do not. To assist you during your selection process, here are some of the tips that will guide you.

Tips for Choosing the Best Company Incorporation Services Singapore

Consider their level of experience

You might have worked with many other professional in Singapore and realized that experience is very vital if you have to get highly satisfactory results. This is the same case when it comes to company incorporation services Singapore. To ensure that your company is incorporated fast and without any problems, it is important that you work with a service that has many years in this industry. With experienced company incorporation services Singapore, you will be assured that you will finalize the process fast and begin doing your business in the country within a very short time. In addition, you will be assured that they understand all the steps required to be followed, all the required documents, amount of money required and other things. Therefore, you can be assured that there will be no mistake that will occur that can cost you the dream of being an investor in the country.

The best way to verify when different services began to operate in Singapore is to check when they were registered and accredited by the relevant authorities to offer their services in the country.

Success rate

It is good to note that you might come across a lot of company incorporation services in Singapore with the right experience in this field. However, you will also realize that they have different success rates. There are many with many years but always disappoint their clients by offering low quality services leading to rejection of their application. You do not want to fall victim of such company incorporation services. This is why you should also look at the number of clients they have assisted to have their companies incorporated in the country successfully. It is not hard to understand this because you just need to check at reviews given by their past clients. You can also ask them to show you their records so that you can make the determination by yourself. Good and reputable company incorporation services Singapore will be more than willing to show you all their records so that you can determine their success rates. Always work with those company incorporation services Singapore with more than 90 percent success rates.

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Cost

Another important thing that you have to consider is the amount charged by the different company incorporation services in Singapore. As you do the selection, one thing that you will realize is that they do not charge the same fees for the services they provide. There are different factors that lead to these differences in terms of cost. It is advisable that you consider working with company incorporation services Singapore that charge the most affordable and reasonable price for the services that they provide. However, you will need to be extra careful about some of the cheapest company incorporation services Singapore because they might lack the right qualifications and experience to offer high quality services. You should also work with those that provide you with full quotation of the fees they charge. This is necessary so that you avoid those with hidden costs that might not suit your budget well.

Core values

It is good to note that the company incorporation services Singapore that you work with have access to some very confidential information regarding your business plans and strategies. They also hold some of your business finances. This is why it is very important to ensure that you check for those company incorporation services Singapore that have high level integrity and have strong core values that guide them in all their operations. Look for the one that has received a lot of positive recommendations from those clients they have worked with before. Good company incorporation services in Singapore should demonstrate high level honesty, trust, courtesy and others factors that will ensure that you will have a good working relationship with them. You can understand this by going through their business information or just when you make your first call. The way that they respond to your calls can tell you a lot about the level of services that you will get from an incorporation service.

The most important thing is for you to take time, ask for recommendations or do thorough online search and you can be assured that you will get the best company incorporation service in Singapore.

Benefits of Finding the Right Company Incorporation Services in Singapore

If you are planning to start a company in Singapore this is a great decision that you have made. Singapore is one of the countries that you can be assured of getting a good business climate because of its economic and political stability. It is a land of great opportunities for those looking for ways to invest in different industries. The country provides wide range of advantages for investors and makes sure that they operate their businesses without a lot of hassles and in a profitable manner. Apart from the different benefits, the country provides investors with a conducive environment if it is registered and incorporated according to the rules and laws that are set in the country. This is why it is very important to make sure that your business is incorporated in the right way in order to get the best and satisfactory results regardless of the business that you operate.

company incorporation services in Singapore

Incorporating a company in Singapore is not as hard as you might think. However, in order to ensure that you do not make mistakes that might end up being costly to you, it is good that you work with company incorporation services Singapore. These are services that have the ability to ensure that you do the incorporation in the right manner without a lot of hassles. Despite that you are supposed to pay them for offering these services, it is worth making the payment because the benefits that you get cannot be compared with the small amount that the company incorporation services Singapore will charge you.

Now that you understand that it is important to work with the company incorporation services Singapore, it is good to understand each of the benefits that you get so that you can make the right decision. When you consider each of the benefits involved, you will realize that you will be putting yourself in a lot of problems in case you decide to go through the entire incorporation process by yourself. The good thing about the company incorporation services Singapore is that they will help your company to be incorporated fast thus avoid a lot of stress that many investors go through as they try to have companies incorporated by themselves. To help you understand the major benefits of working with the company incorporation services Singapore, here are some of the major ones.

Benefits of Hiring a Firm that Do Company Incorporation Services Singapore

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Help undertake all responsibilities

One of the greatest benefits of working with the company incorporation services Singapore is that they help you carry out all the responsibilities of getting your company registered in Singapore. They will help you from the first step of downloading the application documents up to the last step when your company gets incorporated. All what you will be required to do is to provide all the required documents and the application fee needed to the service provider. By giving the correct information and all what is needed in the process, you can be assured that the company incorporation services Singapore will help you get you going within a very short time.

Help avoid mistakes

Another great benefit of working with company incorporation services Singapore is that you can be assured that no mistakes will occur in the process. This happens because they have all the information regarding the procedure that you need to follow. With the skills and knowledge that they have in this field, you can be assured that they will not make errors that might cost you the desire that you have to invest in Singapore one of the best destinations in the world. Without making any mistakes, you can be assured that everything will occur in a smooth way and just take less time.

Energy and time efficient

Running a company successfully is not easy as you might think. There are a lot of things that you need to do in order to ensure that you attain the success required. When you hire the company incorporation services Singapore you will not be required to be involved even in small details and paperwork required to have your company incorporated. They will help you save valuable time and efforts which you can utilize in setting up your company especially at initial stages that are very important. In addition, working with the company incorporation services Singapore make sure that all the formalities are performed at once and within the time that is stipulated in company incorporation laws.

Reduce a lot of hassles and stress

Just as mentioned above, starting a company in Singapore is not hard, but the process itself can take a lot of your time. You can reduce all the hassles and stress involved by hiring the company incorporation services Singapore. You will be able to rest and have peace of mind knowing that the entire process is in the right hands.

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Get more advice

Another major benefit of hiring company incorporation services Singapore is that you will also be able to be given advice on some of the best strategies that you can apply to run your company in Singapore and succeed. Most of these company incorporation services Singapore have been in this field for many years. This means that they understand the Singaporean market well and are in a position to advice you on the best methods that you can use to attain the set goals in a more effective manner. The good thing is that they will provide you the kind of advice that you need on how to operate your business at a cost that is lower compared to how investment experts would charge you.

The choice of hiring a professional company for helping you to incorporate a company in Singapore is a very person decision. This is why it is important to ensure that you make it seriously and should be take consciously. The advantages outweigh the disadvantages by a huge margin. This is why most of the successful investors in the country also took the same decision when they were starting their companies in the UK. The energy spent doing the paperwork and getting into very small details can be used in coming up with strategic decisions and promote your newly formed company.