Singapore is the most popular Southeast Asian country to incorporate a company. The cosmopolitan country has a great reputation for its outstanding tax system, flexible immigration policies, and ease of doing business.
It also offers transparent government policies, world-class infrastructure, and high quality of living. The process of company incorporation & registration in Singapore is really easy. There are no complicated tasks. This attracts a lot of international business investors and entrepreneurs.
A step-by-step guide to incorporation in Singapore:
* Private limited companies are the preferred type of business incorporation in Singapore. Other options include sole proprietorship or partnership. Private limited companies are a legal entity that is separate from its shareholders and owners. They have limited liability for the company's losses and debts.
* Company incorporation in Singapore starts with the selection and use of a company name. The company name should be meaningful, unique, and decent. ACRA (The Accounting and Corporate Regulatory Authority) approves the company. ACRA approves the company name in about an hour if all documents are in order.
* The appointment of a resident director, whose age cannot be exceeded 18 years, is mandatory. He/she must be a permanent resident in Singapore, a citizen, or holder of any of the passes (Enter Pass, Employment Pass, or Dependent Pass).
* A private limited company in Singapore should have at least one shareholder and not more than 50.
* Singapore Company Incorporation: The minimum capital required is $1.
* Singapore company registration requires a registered office address. This address can be residential or official. However, P.O Box addresses are not accepted at any price.
* ACRA will issue a certificate of incorporation together with the registration number, company profile, and certificate after you have met all requirements. This is the official end of Singapore business incorporation.