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Singapore Business Registration for Foreign Individuals and Companies

16th November 2010
By britannylemore in Bankruptcy Law
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If you are a foreigner who is looking for basic information on how to start a Singapore company and establish a strong business presence, then you are absolutely on the right place for the right information. Today, Singapore is one of the leading financial centers worldwide. Its attractive tax benefits and business procedures with the absence of red tapes have convinced a lot of investors to consider Singapore as one of their investment locations. Singapore remains popular for its pro-business environment. With this, we are providing basic information on how to start a Singapore company.

These are the most common considerations if you wish to start a Singapore company:

1. Singapore Companies Act does not allow foreign individuals or entities to self-register a company. You can engage Rikvin, Singapore’s leading incorporation specialist, to set up your company.
2. Appoint a Singapore resident to be the director of the company. A Singapore resident can be a Singapore citizen, permanent resident or holder of an EP or EntrePass. In the event that you are unable to appoint a Singapore resident director,Rikvin can provide you with one through our Nominee Director service. The service can be temporary or long term depending on your needs.

3. Provide a Singapore address as the registered address for the company. Alternatively, you can also engage a Registered Address service through Rikvin.

Foreign individuals and companies are given the choice of setting up a Subsidiary Company, Branch Office or a Representative Office in Singapore. You have the option to choose to set up a company and relocate to Singapore or run your company operation without having to relocate to Singapore. If you intend to relocate management staff from your home country to manage the company's operations in Singapore, you will need to apply for an Employment Pass. Remember that an Employment Pass application can be only filed after registration of the company.
In addition, here are the setup requirements for Singapore company registration:

* Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary
* Minimum initial paid-up share capital is S$1
* Singapore Company must have a Singapore registered office address

Other details to consider before incorporation:

1. Company Name: The company name must be unique and desirable.

2. Shareholders: A minimum of at least one corporate or individual shareholding is required.

3. Resident Directors: A minimum of at least one director who must be an "ordinarily" resident in Singapore.

4. Company Secretary: The company secretary must be a natural person who is an "ordinarily" resident in Singapore.

5. Paid-up Capital: The minimum paid-up capital for registration of a Singapore company is S$1 or its equivalent in any currencies.

6. Registered Address: The registered address must be a physical address and cannot be a PO Box. Use of residential address is allowed for certain types of business.
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