Formation Of A Company
Formation Of A Company in Singapore: Is It As Easy As They Say?
Formation of a company in Singapore is actually considered one of the easiest and wisest things to do. In fact, more and more companies are thinking of either starting up in or moving to the city-state because of this. The reasons why companies move to this country or decide to incorporate themselves here include low taxes and higher incentives as compared to other similar countries and cities in the region and even in the world.
This can be attested to by articles in SFGate dated November 14, 2011, and in Gulfnews dated November 16, 2011, where it is said that Singapore tops all of the countries known for ease of doing business. Included in this list of countries are impressive countries as well like New Zealand, Dubai, Hong Kong and Denmark.
Formation Of A Company Basics
Forming a company and having it incorporated is easy enough to do in Singapore, as long as you have everything you need ready and on hand. Requirements include your company name, at least one resident director, shareholders, a company secretary, paid up capital, and a registered address.
It is also important to note that each of these requirements come with certain stipulations. For example, your secretary has to be appointed within 6 months of your incorporation and that this secretary cannot be a shareholder in your company.
Formation Of A Company In Singapore And How Easy It Really Is
Company formation information, for those who want to put up businesses in the country, is easy enough to understand. These are also considered merely a minor hassle when you consider the benefits you get for incorporating your business in Singapore.
Documents you need to procure and submit to a professional firm in the country to help you with your company’s incorporation include the following: particulars of your shareholders and your resident director, description or details regarding your business and your registered address. You will also need copies of your passport, and other know-your-client info for this if you are an expat or non-resident.