Singapore Company Set Up @ Asia Business Set Up


Singapore Company Set Up
Singapore company set up is quick and easy. Today Singapore has developed into the 17th wealthiest country in the world in terms of gross domestic product (GDP) per capita and continues to attract vast amounts of foreign direct investment every year. Important point to note about Singapore company set up include:
1.	Applications are completed through the Accounting and Regulatory Authority of Singapore (ACRA). The cost to register a company with ACRA in Singapore is S$300 (S$220).
2.	In order to receive approval for setting up a company, every Singapore company must appoint a director who is resident in 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.
3.	The ease of business proceedings has been recognised by the World bank who ranked Singapore as the world's easiest place in which to do business in their 2008 Doing Business survey.
4.	The Singapore Companies Act 1963 governs Singapore company set up.
5.	Following Singapore company set up, company details are available for public viewing on the ACRA online public register.
6.	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.
7.	To meet company start up laws, every Singapore company must appoint a local, resident company secretary and registered office. Corporate secretaries are not permitted, however.
8.	Following Singapore company set up, entrepreneurs can open corporate bank accounts, apply for employment visas in Singapore and rent office space.
9.	The entire process of starting up a company in Singapore 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.
10.	For more detailed information on Singapore company set up, purchase our Asia Business Setup book.
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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