Forming Your Singapore Company Is Easy With the Right Support

by Helen Campos Business and company Registration Singapore

Among the many reasons that foreigners quote for starting a company in Singapore is the ease with which you can open the company. There are enough excellent consultants who will help you start the company without any effort from your side. These agencies are experienced in all the company registration procedures and they have the right people who will coordinate with you for the incorporation of your company.

The agencies are big enough to take care of all your requirements but small enough to be available at your service anytime you need it. They have helped many small businesses to be started in Singapore. They will guide you through all the legalities of forming and running a business in Singapore. Their experts will also provide you with a lot of assistance in running the company smoothly.

Getting Familiar with the Registration Process

The first phase in the company registration in Singapore process is the registration of the name. All companies must register their names with the ACRA before submission of the incorporation papers. The name will be yours for four months within which you can incorporate your company. The registration of the name is very important because it will be your brand name and you must select it well.

The name should also be selected in a way that it doesn’t get rejected by the ACRA. Names that are already in use will be rejected. You cannot have vulgar or obscene names for the company. The names should not suggest any relationship with the government or its departments. It should not breach any trademark regulations. It is always better to select two or three additional names so that you can use them if your preferred name is rejected.

Difficulties in the Incorporation Process

Once the name is registered the incorporation can be completed within a day. But the difficulties arise when the companies are trying to fulfill all the conditions for incorporating the company. Small companies and foreign investors will find it most difficult to fulfill the conditions that are laid down by the ACRA for incorporating a company. But these obstacles can be overcome if you have a good agency to support you.

The first requirement is that you should have a Singapore resident as a director at a minimum. This means that the person must be a citizen of Singapore, permanent resident in Singapore or a holder of EntrePass or employment pass. The pass must be issued for working in the said company and the person must have a residence in Singapore. Nobody can get employment pass in Singapore unless the company is registered.

The second condition is to have a registered office address in Singapore. No company can have a registered office address in such short notice. Moreover, it will be too expensive for a new company to have a registered office in a reputed commercial area. The third requirement is the appointment of a company secretary and it should be done in six months at max from the incorporation date. The company secretary must be highly qualified and experienced in running the company. You cannot find such a person when you are new to the business and the country.

Incorporating the Company with Services from Consultants

If you are wondering how to incorporate a company without the resources to fulfill the conditions, then this is where these consultants can be a great support to you. The corporate consultants in Singapore offer all these services at very nominal rates. They will help you with assigning one of their persons as the nominee director. This person will have good standing in the business community and will improve your brand image. This can be a temporary or permanent arrangement.

The agencies will offer their address as your registered office address and provide services like receiving and forwarding your mails, offering meeting rooms, and providing the necessary stationery. They will also offer corporate secretarial services to fulfill the need for a company secretary.