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Start a Singapore Company: Basic Requirements
By: Diane Paz |
| word count: 416 comments(0) views: 94 |
| Singapore is one of the best business locations worldwide as observed by most foreign investors. Singapore ranks high as having the best quality of life in Asia and worldwide. |
Singapore is one of the best business locations worldwide as observed by most foreign investors. Singapore ranks high as having the best quality of life in Asia and worldwide. It uses high-technology, continuous technological advancement and complete facilities which brings about comfort to residents, tourists and most especially foreign investors. Singapore is also regarded as one of the fastest growing economy in the world with a growth of 17.9% in its GDP in the first half of 2010. To back up all the attractive features of Singapore, we have prepared necessary information for foreign individuals, entrepreneurs and companies who have decided to start a Singapore company. The following information will give more awareness on why Singapore has gained a world class business reputation.
Very first thing to go over is Singapore's corporate taxation where new start-up companies pay Zero tax around the first S$100,000 of chargeable income for that first three consecutive years. Additionally, a further 50% exemption is offered around the next S$200,000 of the chargeable income. Second may be the setup requirements for Singapore company registration. Applicants should comply the following:
Minimum 1 Shareholder, 1 Resident Director and 1 Company Secretary
Minimum initial paid-up share capital is S$1
Singapore Company must have a Singapore registered office address.
Next, so that you can efficiently begin a Singapore company, awareness on these concerns ought to be present:
The organization name should be registered in ACRA before incorporation happens. The organization name needs to be unique and desirable.
There should be a minimum of a minumum of one corporate or individual shareholding is needed. A director and shareholder could be the same or different person. 100% local or foreign shareholding is allowed. Singapore Companies Act allows no less than one and at the most 50 shareholders for any Singapore Private Limited Company. Information on shareholders will appear on public record information.
There ought to be at least one resident direct who has to be a Singapore resident.
The organization should appoint a business secretary who is a resident in Singapore. Singapore Companies Act requires companies to each appoint a business secretary within six month of incorporation.
The minimum paid-up capital for registration of a Singapore company is S$1 or its equivalent in any currencies.
There must be a registered address which should be an actual address and never a PO Box. In certain kinds of business, utilization of residence address is possible.
The Memorandum and Articles of Association, a memorandum which details all of the activities that the company are authorized to manage ought to be filed in ACRA. |
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