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.