A Guide to Setting up Your Company in Singapore


Many people both local and foreign are not fully aware of the procedures for incorporating a company in Singapore. It is always better to hand over the job of registering your company in Singapore to a good agency which is dedicated to providing such services to the business community. These agencies can get the job done without any effort from your side. They also know the company laws in Singapore and will ensure that everything is as per the law.
The agencies have experts for the job and these people can get your company registered in a short time. They will help you in deciding the type of company you want to open. They will make you understand the advantages of each type of company. The consultants will also help you prepare the documents for the incorporation. They will submit the documents to the ACRA which is the authority that controls the businesses in Singapore. Even if you are handing over the work to a consultant it is better to know the procedures well. 

The First Steps to Starting Your Company

The first thing is to know the different kinds of companies that you can open in the country. For a local investor, the types of companies are a sole proprietorship, a partnership, a limited liability partnership or a limited company. The limited company can be a private limited company with a maximum shareholding of 50 members or a public limited company. The private limited company is the most preferred type of company in Singapore.
Foreign investors or companies can also start their offices in Singapore. The types of companies are a representative office, a branch office or a subsidiary company. The subsidiary company is very similar to a private limited company and enjoys the same facilities. This can be completely owned by the main company in another country. The agencies offering company incorporation services in Singapore can help you know more about the conditions for opening these company types. 

Registering the Name of the Company

This is the starting of the incorporation process. You must register the name of your company. It is important to have a suitable name for the company as this will be the brand by which your products will be known in Singapore. The name must be relevant to your product or service. The name must also fulfill the conditions that are mentioned by the ACRA. The name must not be already in use. It must not be vulgar or offensive in nature nor hurt the sentiments of any group of people. The consultant will help find the availability of your selected name and register the same. 

Shareholders and Directors of the Company

A private limited company or a subsidiary company can have anywhere between one and fifty shareholders. They can be individuals or companies. The subsidiary company can have all the shareholders as foreigners or foreign companies. The company must also appoint at least one director. The director can be a shareholder of the company. The company can appoint any number of directors who can be local or foreign citizens.
The company must have at least one director who is a resident of Singapore or a holder of an employment pass. As the employment pass can be secured only after the company is incorporated the company must find a local person to be the resident director. The ACRA allows the company to have a nominee director who the agency can help you with.
These are the initial steps of how to register a company in Singapore and there are other conditions to be fulfilled before you can complete the process. The service providers will help you with the process.

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