Set Up Company Singapore
What To Keep In Mind Prior To Set Up Company Singapore
The influx of businesses planning to set up company Singapore has become so overwhelming in the past years. However, the policies related to the process of incorporation have remained constant. In order to undergo a flawless transformation in becoming a Singapore company, there are specific details that you should take notes of.
Set Up Company Singapore: The Preparation Of The Documentation
Documents play a vital role in the approval of your application to become a legally existing company. Sometimes, the process slows down because of the incomplete requirements. In order to address this problem at hand, here is a list of some of the documents that need to be prepared.
First is the document containing the proposed name of the company. This is required to ensure that the name to be utilised has never been used or is not currently in use by another entity in the country. Next is the proof of address of the company. Having a registered location is vital because it acts as the basis of the government regarding the existence of the company. Third are the documentation noting the names and particulars of the directors and the shareholders. And last, is the write-up that shows that paid-up capital including the value of shares that each shareholder own.
Other Related Entities To Remember When Planning To Set Up Company Singapore
Apart from the documentation, there are also rules involving the employees of the company. Every company established in Singapore is required to employ a secretary. This can be done within the first six months from the date of incorporation. It is considered a violation that will be awarded sanctions if this rule is neglected.
Also, Singapore-based companies are required to employ a director who is a citizen, a resident, or an individual that holds an employment pass.
These are only some of the aspects that need special attention and consideration when planning to set up company Singapore.