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.
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.