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Within six months of incorporation, your business needs to hire a secretary who has a primary place of residence in Singapore. For local residents, they may opt to hire a professional corporate services firm to assist them with the procedure. But for foreigners, they don’t have a choice but to hire a corporate services company to act on their behalf.
Company registration in Singapore is one of the fastest and most uncomplicated processes in the world. The meticulous [link widoczny dla zalogowanych] execution of the system and policies is for the benefit of both [link widoczny dla zalogowanych] the government and the firms to maintain the legitimacy of the business industry. And perhaps the relatively simple process is one of the reasons why Singapore is a preferred business destination of many business persons around [link widoczny dla zalogowanych] the world.
It is only $1 to register a business. That’s the minimum paid-up [link widoczny dla zalogowanych] capital requirement. You can open bank accounts around [link widoczny dla zalogowanych] two weeks after incorporating your company. You can complete the entire procedure in only one [link widoczny dla zalogowanych] to two days unless ACRA requests additional details about your directors and shareholders or if there are additional objections to the proposed name.
Get [link widoczny dla zalogowanych] assistance with company registration and other accounting concerns like income tax from a professional corporate services company. (8214). Free reprint available [link widoczny dla zalogowanych] from: How To Incorporate A Business In The Lion City.
After the name permission, you can now arrange registration papers and incorporate the business within the same day if the papers already have the directors and shareholders’ signature. You would need one resident director and one shareholder to sign the documents. For the resident director, he or she should hold a citizenship or a permanent residency, or an Employment or EntrePass or Dependent Pass.
There are a few steps you must follow if you want to incorporate your business in the country. You first need to get the approval of [link widoczny dla zalogowanych] the Accounting [link widoczny dla zalogowanych] and Corporate Regulatory [link widoczny dla zalogowanych] Authority (ACRA) in choosing the name of your business. ACRA will decline your proposed name if it is undesirable, has name or trademark similar to already established names, or if it is similar to another existing business name. And unless it needs further review from external authorities or if ACRA discovers any other objections, the name [link widoczny dla zalogowanych] will just take two to three hours to get approved.
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