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| Singapore Company Set Up | |||||||
Singapore company set up is quick and easy. Today Singapore has developed into one of the wealthiest countries in the world in terms of gross domestic product (GDP) per capita and continues to attract vast amounts of direct foreign investment every year. Important points to note about Singapore company set up include:
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| 1. | Applications for Singapore company set up are completed through the Accounting and Regulatory Authority of Singapore (ACRA). The cost to register a company with ACRA in Singapore is S$300 (US$220).
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| 2. | To meet Singapore company start up laws, every Singapore company must appoint a local, resident company secretary and registered office. However, corporate secretaries are not permitted. In order to receive approval for Singapore company set up, every Singapore company must appoint a director who is a resident of Singapore. There are no limits on the number of directors of the company, however corporate directors are not permitted. There are no minimum requirements for the shareholders of a Singapore company. Both individual and corporate shareholders are permitted, though a private limited company must not exceed 50 shareholders.
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| 3. | To meet Singapore company start up laws, every Singapore company must appoint a local, resident company secretary and registered office. However, corporate secretaries are not permitted.
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| 4. | The Singapore Companies Act 1963 governs Singapore company set up.
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| 5. | Annual financial statements must be submitted to both ACRA and the Inland Revenue Authority of Singapore (IRAS). It is the case that every Singapore company (with the exception of a Representative office) must also submit annual tax returns to the IRAS.
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| 6. | The ease of using Singapore company setup to manage business activities from has been by the World bank who ranked Singapore as the world's easiest place in which to do business in their 2010 Doing Business survey.
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| 7. | The entire process of Singapore company setup is normally undertaken by a Singapore-based professional corporate services firm who complete the company name search and registration and obtain the corporate documents on the investors behalf.
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| 8. | Following Singapore company set up, entrepreneurs can open corporate bank accounts, apply for employment visas in Singapore and rent office space.
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| 9. | Following Singapore company set up, company details are available for public viewing on the ACRA online public register.
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| 10. | For more detailed information on Singapore company set up, purchase our Asia Business Setup book.
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| Contact Us | |||||||
For more information on Singapore company set up, email email@healyconsultants.com or call us in Singapore at (+65) 6735 0120.
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