Singapore is known for providing world-class level of goods and services from all types of industry, both for local residents and foreigners. Rikvin, a leading business registration firm in Singapore, is one of the companies contributing to Singapores stable and growing economy, by continuing to work towards excellence in company registration Singapore procedures.
Rikvin aims to maintain their excellent company registration services by providing concise registration requirements and process flow to local and foreign applicants, helping applicants examine and identify registration needs and by adhering religiously to the incorporations rules and regulations.
Now, we will be presenting the most significant information that applicants should need to take note in company registration in Singapore. It would be best to take note of the following:
Company Name. The name must be approved before incorporation of the Singapore company can occur.
Directors. A minimum of one resident director is mandatory. There is no limit on the number of additional local or foreign directors a Singapore Company can appoint. Directors must be at least 18 years of age and must not be bankrupt or convicted for any malpractice in the past.
Shareholders. A Singapore private limited company can have a minimum of 1 and maximum of 50 shareholders. A director and shareholder can be the same or different person. The shareholder can be a person or another legal entity such as another company or trust. 100% local or foreign shareholding is allowed.
Company Secretary. As per Section 171 of the Singapore Companies Act, every company must appoint a qualified company secretary within 6 months of its incorporation. The company secretary must be a natural person who is ordinarily resident in Singapore.
Paid-up Capital. Minimum paid-up capital for registration of a Singapore company is S$1. Paid-up capital (also known as share capital) can be increased anytime after the incorporation of the company. There is no concept of Authorized Capital for Singapore companies.
Registered Address. In order to register a Singapore company, you must provide a local Singapore address as the registered address of the company. The registered address must be a physical address (can be either a residential or commercial address) and cannot be a PO Box.
Taxation. Singapore registered companies enjoy very attractive tax exemptions and incentives. This is one of the key reasons entrepreneurs from around the world prefer to form a company in Singapore.
After having a brief overview of the above considerations and still you feel the need for further assistance, please do not hesitate to contact immediately any authorized business registration firm such as Rikvin for consultation and registration processing.
Rikvin has helped thousands of individuals and corporations to form a company in Singapore successfully. Rikvin provides a complete corporate solution under one roof for company registration Singapore procedure, formation of offshore companies with opening of corporate accounts, business registration including accounting, tax, immigration related to work passes visa and compliance services in Singapore.