Company Registration in Singapore in 2020
When it comes to company registration in Singapore, there are many laws and features that one should be well conversant with. It’s for that reason why working with a reputable corporate service provider in Singapore is critical. The process of incorporation of a company in Singapore begins with having clarity on what is required and the features that should be put in place.
Here are some of the steps to follow when considering registration of Company in Singapore;
A Unique Name
Before you get started with the formation of Company you must have in place a few unique names that you can submit for registration. The name should be unique and that which meets the required standards. Working with a corporate service provider in Singapore makes the whole process easier as they are well-versed with every company registration process.
Choice of Directors
When registering a company; it’s important to note that at least one of the directors should be a Singapore resident. When registering an offshore company in Singapore; consider engaging a reputable firm in Singapore that’s well conversant with all the requirements. Engaging a firm capable of providing local director services can help ensure that you engage the right personnel for such sensitive tasks.
The number of directors for a private limited company should range from one to fifty. It’s also important to note that 100% ownership is allowed; however, that’s possible for a Singapore resident who can either be a citizen, a person with a resident permit, or a permanent resident of Singapore.
Appointment of Company Secretary
According to the Singapore Companies Act, a company secretary must be appointed within six months after the incorporation of company. The choice person for the responsibility should be a resident of Singapore. Working with a reputable firm that offers company secretary services in Singapore can help save time and ensure that the responsibilities and roles are executed effectively.
Paid Capital
When considering the incorporation of company, a minimum of 1SGD is required. However, there is a possibility of increasing the capital once the incorporation process has been done. Capital can be in the form of different denominations of shares, and working with a reputable corporate service provider in Singapore can help with providing advisory on such matters.
Company Registration Address
Before registration of a company; you should ensure that you have a permanent residential address in Singapore. Working with a reputable firm that offers local director services can help with ensuring that such tasks are executed effectively. When registering a Singapore company as a foreigner, it’s essential to know that a foreign investor cannot register a company all by themselves; they should consider engaging the corporate service provider’s services in Singapore.
Taxation
When considering company registration in Singapore; it’s important to note that Singapore has a range of tax incentives that you can take advantage of as an investor. There is a range of tax incentives for startups, and there is no tax charged on dividends. Engaging a reputable firm for the filing of income tax Singapore can be beneficial for your Company.
Originally published by onestop-ca.com
