Register Of Companies
Register Of Companies: Have Your Business Included Today
Having your company listed in the register of companies brings many advantages. Aside from the appropriate recognition, your company gains a new level of prestige. When prestige is associated with your company name, you can attract a bigger number of investors. You can easily increase your capital as well because you achieve good standing in finance companies. More importantly, the law recognises your business as a legitimate entity. It also becomes entitled to tax exemptions and incentives.
Register Of Companies And Businesses Today
To have your company recognised by the company registry, you must have it registered. The company name is the primary requirement for registration. Whether you are hiring a Singapore company formation service provider or you are doing the registration process by yourself, it is important to check the availability of your chosen name in the company registry. Company name approval only takes a few hours if you follow the guidelines: your name must not be the similar to the name of an existing business, it must not be obscene or vulgar, it must not be reserved by another company, and it must not violate any trademark.
If you are hiring a company formation service provider, it is important that they let you check the availability of your chosen name in the registry before signing the deal. That saves you from the troubles of not getting approved and process repetition that bears additional costs.
Other Requirements Of The Register Of Companies
Along with the proposed company name, you must furnish other requirements. You must submit a description of the nature of your business, information about your directors and shareholders, and your registered address. You must prepare a paid-up capital and the amount of shares for each shareholder if you have more than one. You must also have a company secretary. If you do not have one, your corporate secretarial service provider can assign one for you.
When your company is included in the register of companies, it becomes a separate legal entity with its own liabilities. Your liability for your registered company becomes limited to your shares. Therefore, your personal properties are protected. Apart from it, your business is granted a tax exemption of S$300,000 for the first 3 years. So when you register your company, you surely reap a number of benefits.