Singapore is highly valued as far as business is concerned, and the government also offers well-designed tax exemptions for registered companies. Individuals over the age of 18 register the company, but most companies in Singapore are registered as private limited companies, which are tax efficient corporations and are not responsible for the company’s debt. Because. The capital they hold.
Here are some things you should be aware of before contacting the government for registration:
1. The government must approve the name of the company.
2. The company needs a Singapore address, not a PO Box.
3. A company can have any number of directors (all legally dedicated), but at least one must be a citizen of Singapore.
4. The company must appoint a company secretary who is a resident of Singapore.
5. The company does not require approved capital, but it must record a minimum capital of $ 1.
6. Foreigners do not need a special Singapore visa if they wish to establish a company in Singapore, but if they are planning a relocation, they will need an employment pass or an entrepreneur pass.
Upon registration, the registrar will request the company name, business activity description, shareholder details, company secretary and director, registration address and MAA (Memorandum and Articles of Incorporation). Individuals involved in the establishment of the company must also create proof of identity, as is common practice.
The Singapore Registrar of Company has computerized procedures that make registration a very simple and efficient process. Completing the application form at the registrar will complete the approval / rejection of the company name within one hour. The process is completed with a registration fee of S $ 300. For rapid approval of company names, the names must be new and not similar to existing companies.
Once the company registration is complete, the registrar will send you an email notifying you of the completion of the process, and the email will include a registration number, which is an official certificate of establishment, as well as your business profile. The registrar’s office ensures that owners get a hard copy of the certificate of establishment as well as the company’s business profile.
Registration is very time-saving because the entire process is automated and neatly moved to Singapore for business opportunities because of the tax benefits and efficient bureaucratic process This is a sensible choice for people. Will you be on the next line?
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