Singapore Incorporation Services
What To Expect From Singapore Incorporation Services
Singapore Incorporation Services For Foreign Companies
Entrepreneurs who wish to start a company in Singapore must register first with the country’s Accounting and Corporate Regulatory Authority or ACRA. Anyone over the age of 18, whether they are a local citizen or a foreigner, can incorporate a company. It’s relatively an easy and straightforward process to register a business in the country. After submitting an application online, the registration can be completed just after 15 minutes. However, there are requirements and rules that every business must submit to during and after the actual incorporation process. Hiring Singapore incorporation services would ensure that companies would be able to follow the requirements of incorporation precisely.
In Singapore, 100% foreign shareholding is allowed. It doesn’t mean, however, that foreigners can self-register their company. They must hire an incorporation services company to register their company on their behalf. And if foreign entrepreneurs don’t wish to relocate to Singapore to operate their company, they may do so but they must appoint a Singapore resident director. For those who wish to relocate, they must apply for an EntrePass work visa.
Types Of Singapore Incorporation Services
In assigning a professional firm specialising in registering a company, entrepreneurs can expect from them a range of services to help with their incorporation. The first service is the registration, in which the professional firm will submit the necessary documents to ACRA on behalf of the clients. It may also include the creation of the company’s profile and its common seal, memorandum and articles of association, and minute book and statutory register.
For post-registration services, the professional firm may provide company secretarial services. This includes the maintenance and updating of statutory registers and minute books, the filing of annual returns and changes in relation to share capital, shareholders, and directors, provision of registered office address, and other documents required for submission by ACRA.
Singapore incorporation services from a professional firm may also include Nominee Director Services. In setting up a company, entrepreneurs must at least have one local director who is a citizen, Permanent Resident, or an Employment Pass or Dependant Pass holder in Singapore. However, foreign investors may encounter difficulty in looking for a local director for their company. With nominee director services, the professional firm will provide a nominee director so they can complete the incorporation requirements.