Engage Asiabizservices To Setup A Singapore Company

Engage Asiabizservices To Setup A Singapore Company

Unless stated in the registration, a company incorporated in Singapore adopts the private limited structure. Because of the protection given to the investors and directors by a private limited company, this structure is most favored by many investors.

According to AsiaBizservices, only the unpaid shares of an investor or director in a company shall be the extent of his liability.

"A private limited company is cloaked with its own legal personality. Thus, it is treated like a legal person having eligibility to engage in transactions such as purchasing and owning assets, revenues, losses, and liabilities."

One of the most attractive investment destinations is Singapore. It is considered as the Switzerland of Asia. Last year, there was a recognizable detour of private banking businesses from Europe to Singapore.

The laws governing businesses in Singapore allow foreign investors to own entirely their companies. After being issued with an Employment pass from the Ministry of Manpower, they are permitted to relocate foreign staffincluding themselvesinto the city-state.

There are professional firms like AsiaBizservices that were set up in order to give assistance to foreign individuals and companies in their business needs especially in incorporating a Singapore company, unless they are holders of NRIC or Singapore Personal Access Cards.

AsiaBizservices describes, "A private limited company requires a separate resident director, shareholder, and company secretary."

AsiaBizservices further states: "While a shareholder may be individual or corporate entity, both the company secretary and resident director ought to be individuals."

The Singapore Companies Act requires a resident director to be of legal age and capacity and not an un-discharged bankrupt. He must likewise be a local. Despite of this, parallel to foreign ownership policy is the foreign national to be part of the management staff.

"Investors can be appointed as the resident director after obtaining an Employment pass or Entrepreneur passfrom the Ministry of Manpower."

AsiaBizservices offers a nominee director service in case the investor is not ready to relocate and he finds it difficult to appoint a qualified individual as director.

AsiaBizservices explains: Under such service, the nominee director shall lend his name and address to the company so the incorporation procedure can take place. However, the service is only for satisfaction of the requirement. It does not afford the nominee director any corporate powers and responsibility."

AsiaBizservices's nominee director service is always hired by many investors for a long-term basis. These investors may stay offshore and stay in Singapore for a month or two to attend to their business. Even if they are overseas, they can still manage the operations of their companies in Singapore.

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