Singapore Requirements in Registration of Company
Singapore is one of the best places to set up a company in Asia. It boasts of high-tech facilities, competent people, and a great atmosphere for business. If you want to deliver high-quality products and services, this is the place to set up your base of operations; and of course, to do that you have to be knowledgeable about the process of registration of company in Singapore.
Requirements in Registration of Company in Singapore
• A local director who has to be at least Singaporean, Singapore PR, or an employment pass holder for Singapore
• There should be at least one shareholder; the person does not need to be Singaporean
• A minimum paid-up capital of S$1 is also required
Company information requirements are as follows:
1. Name of the company
2. Nature of business
3. A registered company address
4. Paid up share capital
5. Information regarding the director and shareholder which includes:
- Full name
– Local corresponding address
– An overseas address if applicable
– Identity card number along with expiry date
– Passport number along with expiry date
– Personal contact details
– The number of shares to be issued to each shareholder
Benefits of Registering a Company in Singapore
There are a lot of advantages and benefits of having a registered company in Singapore. For one, you can enjoy legal tax exemptions when your profits come from outside of the country as provided by the Inland Revenue Authority of Singapore. At the same time, for the first three years of operation the company will also enjoy legal tax exemption on S$200,000 corporate profits. These are just some examples with regards to benefits of Singapore company formation.
The atmosphere for business in Singapore is very enticing which is why more and more companies want to set up here. The registration of company may take a bit of time and effort. This is why it is best to get the right people to help you with registering your company to get it done in a fast and efficient manner.