If you are a foreign national decided to incorporate company in Singapore, Congratulations! Incorporating company in Singapore is one of the best decisions one can make in today’s global economy and this does definitely open doors to a lot of growth prospects.
Once decided, next step in the process of incorporating a Singapore company is to prepare yourself about various things that are required.
There are different types of Singapore company incorporation that a foreigner can do. Make sure that you know which one you’re going to adopt (based on your needs and requirements)
For More information visit this link:
http://precursor.com.sg/handy-checklist-foreign-entrepreneurs-need-incorporating-company-singapore/
2. If you have decided to incorporate a company in
Singapore, congratulations!
Incorporating a company in Singapore is one of the best
decisions one can make in today’s global economy and
this does definitely open doors to a lot of growth
prospects.
Once you have decided to incorporate a company in
Singapore, the next step in the process of incorporating a
Singapore company is to prepare yourself for various
things that are required.
In this post, we have put together a handy checklist of
the various things you need when registering company in
Singapore. Using this list you will be able to prepare
yourself for the process. All that you need is to tick mark
the items and you can be rest assured that you’re not
missing anything.
3. 1) Type of company incorporation:
There are different types of Singapore company
incorporation that a foreigner can choose from.
Make sure that you know which one you’re going to
adopt (based on your needs and requirements).
2) Resident director:
According to Singapore Companies Act, a minimum
of one resident director (a resident is defined as a
Singapore Citizen, a Singaporean Permanent
Resident, or a person who has been issued an
Entre-pass, Employment Pass, or Dependent Pass)
is mandatory. Directors must be at least 18 years of
age and must not be bankrupt or convicted for any
malpractice in the past.
4. 3) Company name:
According to the Act, the name must be approved
before incorporation of the Singapore company
can occur. One can register a Singapore company
only if the company name is approved.
4) Registered Business Address:
In order to register a Singapore company, you
must provide a local Singapore address as the
registered address of the company. The address
much be a commercial address or home office
address approved by the authorities.
5. 5) Work pass:
If you are planning to relocate to Singapore for operating the
company, you are required to obtain an Employment Pass or
Entrepreneur Pass once you have obtained your work pass,
you can act as the local resident director of your Singapore
company.
6) 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 a different person. The shareholder can be
a person or another legal entity such as another company or
trust. 100% foreign shareholding is allowed. The minimum
share capital is $1 SGD. Make sure that you have worked out
your company’s share allotment procedure before going
for company incorporation in Singapore.
6. 7) Qualified professional firm:
Singapore law does not allow foreign individuals
or entities to self-register a company. It is
mandatory to engage a qualified professional
firm to assist you in the process of registering
company in Singapore. This part is extremely
crucial. It’s Important to understand that the firm
you hire for your company incorporation should
be able to deliver high-quality incorporation
services and choosing a wrong company can
cause serious business and personal losses.
7. 8) Required documents:
There is a set of documents you are required to submit to
company registrar when incorporating Singapore company.
These documents will be collected from you by your
incorporation provider:
For non-residents: Copy of passport, overseas
residential address proof, and other Know-Your-Client
(KYC) information such as a bank reference letter,
personal and business profile and other essential
identification documents
For Singapore residents: Copy of Singapore identity
card
If the shareholder is a corporate entity: Copy of
registration documents such as Certificate of
Incorporation and Constitution.
8. What to do if you are short of required things:
Having read the checklist, it’s possible that you find
you’re not having all the items that are needed. While
there is no way you can bypass above items in order
to successfully register company in Singapore, a
qualified Singapore company incorporation firm can
help you in the entire process end-to-end and make
sure to have everything available to you, including
trusted local nominee director, share allotment
consultancy, registered Singapore address
and company constitution formulation.
It’s extremely critical that you choose the
incorporation provider carefully to ensure a safe and
smooth company incorporation in Singapore.
9. Precursor has years of experience, a panel of
company incorporation experts and a large
number of satisfied clients that testifies the highest
quality, up-to-mark company incorporation services
in Singapore that we provide.
For More information visit this link:
http://precursor.com.sg/handy-checklist-foreign-
entrepreneurs-need-incorporating-company-
singapore/
