Hire Singapore Company Registration Services to Set Up Your Companyby Sneha Patil Top Singapore Company Registration Company
The entrepreneurs have many choices when it comes to incorporating a Singapore company. The process for it is simple and same for all the business entities. Moreover, there are Singapore company registration services to assist them with the task.
Each year, hundreds of foreign corporates especially, the SMEs and individual entrepreneurs along with the locals opt for Singapore company formation. Not all of them have the updated knowledge about how things in Singapore works.
Local & Foreign Singapore Company Formation
It is easy to answer questions like, “Are foreigners allowed to set up a company in Singapore?” Yes, they are. Both locals and foreigners above the age of 18 years are eligible for registering a Singapore startup. A large number of them outsource the task to the Singapore company registration services.
The entrepreneurs from all over the world value political stability, pro-business government, effective legislation, strong laws protecting intellectual property, easy access to funding, and lower taxes rates. Singapore offers all of these and much more. It has a well-established startup ecosystem and a number of schemes and programs to support the entrepreneurs wishing to set up a company in Singapore.
Business Structures in Singapore
The business owners can choose from many business structures available to them. The individual entrepreneurs, both foreign and local, can hire one of the reputed Singapore company registration services to register their Sole Proprietorship, Limited Liability Partnership (LLP), Private Limited Company (Pte Ltd), or an Exempt Private Company (EPC). The foreign corporates can incorporate a Subsidiary Company, Registered Office, or a Branch Office.
Key Pre-Registration Requirements
The willing entrepreneurs need to fulfill pre-registration conditions imposed by ACRA. They are as follows:
• Registered name for the company
• Minimum paid-up capital of 1S$
• At least one shareholder (maximum 50)
• At least one local director
• At least Company secretary
• Registered local address of the company office
• Description of business activity of the proposed company
Choose Business Structure with Care
They need to be careful about their choice of business structures as it can affect their taxation, liability, statutory filing, and overhead costs. The private limited company is a robust and dynamic entity. Singapore allows the foreign entrepreneurs and corporates to own 100% of shares in the company.
Statutory Audit Free Exempt Private Company
An EPC is a private limited company having 1-20 shareholders none of which is corporate. An EPC having its annual turnover less than S$5million is audit exempted. It is also eligible for the tax incentives, rebates, and schemes run by the government. The majority of registrations in Singapore are of this type.
Process of Singapore Business Registration
Once the business owners submit incorporation documents to the Singapore company registration services, they initiate the process of Singapore company formation with the Singapore Company Registrar, i.e., ACRA (Accounting and Corporate Regulatory Authority). The owner must also submit a list of 5 names for the proposed company. Singapore registration process has two steps in it.
A) Company Name Registration
Firstly, the services providers search the availability of a name on the list. If so, they pay the ACRA fees and registers it for 60 days. The expert advice that the names provided should not be vulgar, identical to the existing company names, or black-listed by the minister. They also should not infringe any copyrights or trademarks of other companies. The ACRA reserves the right of rejecting such names.
B) Application for Setting Up a Company in Singapore
Secondly, the Singapore company registration services fill the necessary forms, pay the registration fees and apply to the ACRA to register their client’s company. It is a speedy process, and unless, the application is referred to the higher authorities, it gets over soon.
Talk to Experts from Singapore Company Registration Services
If you are looking to set up a company in Singapore, talking to the experts may prove useful. These are the professionals who are aware of the latest changes in the rules and the regulations. They know the most suitable business structure for your business. They can also in a position to advise you on the business plans and models as they are in touch with the market. Most of these services providers charge affordable prices for the services rendered.
However, you should look for the combo incorporation packages that bundle additional services along with the Singapore company formation. The package offered by the Singapore company registration services like SBS Consulting Pte Ltd delivers company incorporation, corporate secretarial, and local registered office address bundled in a package costing S$699 only.
SBS Consulting Pte Ltd
High Street Centre,
#17-02, 1 North Bridge Road,
179094 - Singapore
Phone: (65) 6536 0036
Created on Oct 26th 2017 03:04. Viewed 358 times.