Singapore is one of the prominent places for doing business in the South-east region and there are many Singapore company registration services that help companies to complete the registration process in easy steps. However, there are few things that may need to be done before proceeding to registration services. The first thing is to choose a name for the company and get this name approved. The registration services may help you to get the name approval. After this process, you have to appoint at least one director for the company who is a resident of Singapore. You have the choice to appoint an unlimited number of directors who may be resident or non-resident. Although you have to make sure that all directors meet the age requirement in Singapore and the required age are eighteen. You can’t appoint any director who is bankrupt or who was charged for malpractice financial transaction in past.
The next thing you may do before proceeding to Singapore company registration services is to get shareholders. Any company has at most fifty shareholders and they can be director or non-director. Also, the shareholders can be individuals or any company. One of the key benefits of doing business in Singapore is that the shareholders can be hundred percent non-residents and after the incorporation process shares may issue freely or transferred. You also need to appoint a secretary for the company with adequate qualifications within six months of completing the incorporation process. Also, the company act in Singapore forbids the directors to work as the secretary. The minimum paid up a capital amount for registering the company in Singapore is only one Singaporean dollar and you may increase the amount at any time in future after the incorporation process is complete. Another thing to be done before going to Singapore company registration services is to hire an address and this address cannot be a P.O box address. But there are options to get the registered address from commercial or residential spaces. Please note that to register the company in Singapore you may receive extensive tax incentives or benefits and your company pays nine percent less tax for first income of $300000 Singaporean dollars and after these, they have to pay only 17% tax which is the flat rate.
The general guideline mentioned earlier, there are few other things one may need to consider. If you are nonresident in Singapore then according to local law, you can’t complete the registration process on your own. You must seek assistance from a professional firm and they can complete the registration on your behalf. If you are a foreign resident and want to operate the company from overseas then you may not need to take work visa in Singapore. You just have to take a visitor visa during the visit required for attending seminars or other business meetings. But you may need to hire a local director who may perform all the local works and this also full fills the law of appointing one local director. Some Singapore company registration services also provide nominee local director for the company. One other hand if you consider moving Singapore permanently to operate the business then you may require to take employment pass or entrepreneur pass and then you may work as the local director and run the business. Please note that you can manage all incorporation, registration process in Singapore without visiting the country, except for opening a bank account in Singapore.
There are few documents you need to provide for registration and Singapore company registration services may help you to acquire them. As mentioned earlier, you have to provide the name for the company and also provide the brief operational description with a brochure. You also need to provide shareholder’s details, the director’s details, secretary’s detail, a registered address for the company and finally the constitution of the company. When appointing Singapore company registration services then they may ask for a few paper works and they may require these documents for processing documents. If you are a nonresident of Singapore then you may need to provide the copy of the passport, the proof of residential address in the overseas country, a reference letter from the bank, personal profile, and business profile. However, if you are the resident of Singapore then you may only need to provide the identity card issued by the Singaporean government. If you are a shareholder of the corporate entity then you may need to provide a copy of registration documents and also the certificate of incorporation and company’s constitution. If the documents mentioned above are in a language that is not English then you may need to provide the officially endorsed translated documents. After providing all the necessary documents, it takes approx an hour for names approve and one may get registration documents within few hours after submitting the documents.