Incorporation Of Company
Pre-requisites To Incorporation Of Company
Singapore is the leading country for business and trade in Asia. It is one of the four “Asian Tigers,” along with Hong Kong, South Korea, and Taiwan. The World Bank, in a recent study (Doing Business 2011), concluded that it is the best country in the world to do business. It is one of the most competitive business locations among the first world countries of the globe. Hence, incorporation of a company in Singapore can provide an excellent opportunity for international business.
There are pre-requisites to company formation in Singapore. Of course, the company name must be unique and not offensive. The best type of business to register is the private limited company (corporation). Next, there must be at least one director and a local (Singaporean citizen) corporate secretary. The director may be a foreigner, who has been duly issued permanent residency, an Entrepass, Employment Pass, or Dependent Pass. There is no limit to the number of directors allowed.
Shareholders And Paid Up Capital In Incorporation Of Company
A shareholder is any person, natural or legal, that participates in the ownership of a business through financial participation. A minimum of one shareholder is required, and a maximum of fifty is allowed. A director may be a shareholder. A shareholder may be a legal entity, except when first registering the business. Minimum paid-up capital for registration is $1 and may be increased anytime after incorporation of a company.
A registered address, either residential or commercial, is required in registering a company. Foreigners are required by Singaporean law to engage a professional firm to register in Singapore. But they are free to operate their business from overseas without relocating to Singapore, merely visiting occasionally during important business matters.
Taxation Matters On Incorporation Of Company
Singapore has the best politics and government in the world for business investors. Registered companies enjoy tax exemptions and attractive tax incentives. Planning on incorporating your company? Come to Singapore!