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Company Registration Singapore: Basic Guide to Incorporation

26th November 2010
By Shayne in Business Law
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Most businessmen consider Singapore as one of the best countries in the world because it offers various business opportunities and it attracts different profiles of customers coming into the country. Singapore has been regarded as an international hub. This popularity and economic stability of Singapore attracted local and foreign businessmen and companies to start a Singapore company.

If you are a businessman planning to establish a Singapore company, you can start by making a thorough research on the status and reputation of Singapore. After gathering enough information on the country, you can already decide whether to proceed or not to proceed with your business plans.

Below is a company registration Singapore guide that will make you aware on the basic considerations and regulations for business operation in Singapore. If you need additional information and further assistance, do not hesitate to consult any authorized business registration firm in Singapore.

Please note the following information for company registration in Singapore.

1. Company Name. The name must be approved before incorporation of the Singapore company can occur.
2. 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.
3. 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.
4. 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.
5. 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.

6. 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.
7. 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.

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.
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