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A Guide to Register a Company in Singapore

11th October 2011
By Andrews Thomas in Business Law
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Singapore is the latest business hub in world and its prospering economy owes a great deal to the easy registration of company in Singapore policies. With a sound political system Singapore offers all the ingredients for the nationals as we well expatriates to earn riches in this beautiful island nation. There are hundreds of companies located in the Central Business District of Singapore and the companies range from insurance, banking, law firms, and art and design sectors amongst many others. In a recent statistics revealed by the Singapore Economic Development Board there are more than 7,000 multinational companies which have their global or regional headquarters in Singapore. Singapore company registration is seen by the company owners as a gateway to get success, whether it is a MNC or a SME. The main reason for such popularity of Registration of company in Singapore is the quick and efficient procedure followed by the government. There are different Singapore company registration procedures in place. Let us take a look at these:

Singapore Company Registration using the Singapore Corporate Services

There are various companies offering the Singapore company registration to relieve the company owners from all the tensions and hassles of Singapore company registration. But how do they help the company owners in the registration procedure? Letís see:

  • First of all the Singapore company name should be chosen and the corporate structure has to be decided upon. After these key decisions are taken the Singapore corporate service provider presents an application to the Accounting and Corporate Regulatory Authority (ACRA) in Singapore. Usually the approval or rejection of the application comes in quick time. There might be a delay in the decision by 1-3 weeks only if the application requires to be examined by an external authority.

  • Once the details are approved by the ACRA, the company should appoint at least one resident individual director. The resident director should either be a Singapore citizen, Permanent Resident, Employment or Dependent Pass holder, or may have an Entrepass.

  • The company also should appoint shareholder. Any private limited company in Singapore can have a maximum of 50 shareholders. But the director and the shareholder for the company can be the same person as permitted by the Singapore company registration regulations.

  • Any Singapore registered company should have a minimum share capital of S$1.

  • Once the Registration of company in Singapore is completed, the company is provided with a Unique Entity Number (UEN) which is the identification number for the company.

  • ACRA will also provide the company with a certificate of incorporation and other relevant company details can be viewed from the ACRA online public register.

Foreign Nationals Seeking for Singapore Company Registration

All the foreigners looking to start a company or regional offices in Singapore need to follow some regulations set by the ACRA to get their company registered. Below is a list of the regulations:

  • Applicant should be 18 years and above.

  • Applicant should have clear records in terms of bankruptcy, otherwise they will have to gain permission from the High Court or an official assigned.

  • In case the applicant is not a Permanent resident of Singapore he/she should apply for the Entrepass that will permit them to engage in business in the country.

  • As an alternative the company owner may also appoint a local resident director in order to get the Singapore company registration.

  • With the Singapore company registration done; any company owner can start making the profits in this economically prosperous island nation.
    Andrews Thomas is one of the eminent business owners in Singapore and knows it all about Company Registration Singapore and setting up a company in Singapore. He shares some of the tips for the budding entrepreneurs looking to start business in Singapore.
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