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Registration Of A Singapore Company

Registration Of A Singapore Company

Are you planning to set-up a business in Singapore? Have you started your research regarding the registration process and the documentation required? If not, then you should read the following pieces information that can serve as your guide as you move along.

Registration Of A Singapore Company: Understanding The Classification

The first aspect that needs to be determined before submitting any documentation is the type of company. Businessmen have the obligation to decide on this aspect before going any further. This is due to the fact that every classification has a specific set of requirements.

The common classification used by Singapore companies fall under Private Limited Liability. This means that the company is a legal entity which is separated from its shareholders. Thus, in case the company incurs any type of debt, the shareholders cannot be held accountable for amounts which fall beyond the share that they contributed for the capital.

Other Key Aspects On The Registration Of A Singapore Company

The next aspect involves the preparation of other key aspects which include the following:

The company name the suggested name is the priority when it comes to the registration process. Unless the name is approved, the incorporation will not push through.

Shareholders in the registration of a Singapore company, it should have a minimum of one and a maximum of 50 individual or corporate shareholders. They can either be local or foreign entities. And take note that directors can also be shareholders.

Company Directors Singapore businesses are not given a limit when it comes to the number of directors that will become a part of the company. However, there should be one director who is either a permanent resident, a citizen, or an individual who possesses an Entrepass, Dependent, or Employment Pass in Singapore.

This is only the tip of the iceberg for businesses planning to move to Singapore. There are several other key aspects that need to be covered as part of the process of incorporation.