Singapore Company Set Up
All About Singapore Company Set Up
Singapore is a country that is regarded as one of the best places to set up a company or a business. Thanks to low corporate tax rates and multiple tax incentives, a business friendly atmosphere and political system, and a highly-skilled workforce pool, the country continues to make a name for itself in the international business community.
Singapore Company Set Up, Your Very First Step To Success
As the world of business experiences the great changes and economic power shifts brought about by current global events, this country continues to improve its global economic standing and cement its place at the very top. Today, more and more businessmen and women are being attracted by the numerous benefits of setting up shop in this modern day land of opportunity, and their journey to success begins with the process of Singapore company formation.
Some Essential Elements For A Singapore Company Set Up
A company name. Companies may be granted approval for their official names in as little as a few minutes, this is granted that the name does not contain terms that need to be submitted for review by an external government authority. Thus, it is important to ensure that the company name you choose is unique, not reserved by other entities, and does not contain any offensive terms.
Shareholder or shareholders. A company needs a minimum of one shareholder, or a maximum of 50 shareholders in order to be successfully registered. These shareholders may be a person, or another company or legal entity.
Director or directors. Any person who is of legal age (at least 18 years old), of a financially stable state, and of good moral standing, may be appointed as a company’s director. Additional directors may also be appointed, and there is no standing limit to the number of directors that a company may have, as long as at least one of these directors is a resident of Singapore.
Company Secretary. The company secretary must be a resident of Singapore, and he or she must be appointed within 6 months of the company’s incorporation date.