How To Register A Company
How To Register A Company In Singapore
Learning how to register a company is important for all business owners. In Singapore, it often goes as simple as completing the requirements and submitting them for evaluation. Most companies register their companies not just because it is mandated by the law. It also allows their company to exploit the benefits, particularly the tax incentives. Below is an overview of the process and the requirements for company registration.
How To Register A Company: Requirements
One of the first requirement for businesses looking to get registered in the city-state is a company name that will be subject to the approval of the Accounting and Corporate Regulatory Authority (ACRA). A name must not be similar to any existing business name, must not violate any trademark, and must not be vulgar or obscene. You can register your company with only one shareholder which can be a corporation or an individual. Shareholders are not required to be Singaporean citizens. Your company must also have a minimum of one director. According to the Singapore Companies Act, the director can be a resident or a non-resident.
Another requirement is the company secretary. As per the Singapore Companies Act Section 171, every business must have at least one company secretary who is a permanent resident of the country.
Who Can Teach You How To Register A Company
If you need assistance with company registration, you can get in touch with agencies that offer company registration services. These firms also provide company secretarial services and Employment Pass assistance for foreign applicants. Provided that you furnished all the requirements, you will have your company registered within one to two working days.
The Internet is the best place to start your search for company registration service providers. Upon having a prospected firm, get in touch with them to discuss your registration needs. You have the liberty to consult with more than one firm. This way, you can compare their services and prices. Finding a reputable service provider won’t be difficult because they are common in Singapore.
Upon learning how to register a company, you will discover a myriad of advantages. Aside from prestige, your business can have a lot of new opportunities to increase its capital. And for the first 3 years, your registered company will be granted a tax exemption of S$300,000. Singapore-based companies are aware that these are just a few amongst the numerous benefits that company registration can bring. Have yours registered today.