subject: Start A Singapore Company [print this page] Singapore continues to provide best quality of life in Asia thus making the country a favorite tourist destination and job seekers location. Singapore is also known for establishing a pro-business country worldwide. With this, the country was awarded in 2010 World Banks Doing Business Report by Worlds Easiest to Do Business.
Local and foreign businessmen who would like to start a Singapore company should be aware of the basic steps mentioned below.
Examine Singapores economy and the benefits of Singapores corporate taxation. A thorough study of the stability of Singapores economy and a presentation of the advantages and disadvantages of setting up a Singapore company should be listed as your number one concern since this would form a significant part in your decision making. Note that start-up companies pay Zero tax on the first S$100,000 of chargeable income for the first three consecutive years. A further 50% exemption is given on the next S$200,000 of the chargeable income.
Check the Setup Requirements for Singapore Company Registration.
Minimum 1 Shareholder + 1 Resident Director + 1 Company Secretary
Minimum initial paid-up share capital is S$1
Singapore Company must have a Singapore registered office address
Check the Important Considerations Before Incorporation. This includes a unique and desirable company name, a minimum of one individual shareholding, a minimum of one director, Singapore resident company secretary, a minimum paid-up capital of S$1 or its equivalent in any currencies, a registered address and companys Memorandum and Articles of Association.
Hire the Services of a Business Registration Firm. Foreign individuals and companies are required to engage a professional firm in facilitating the business registration process.
Identify What Type of Work Visa is Needed. Foreign individuals and companies should also examine the type of work visa needed. Work visa can either be an EntrePass or Employment Pass.
The above steps are just initial information for you to be aware of. If you have additional concerns, inquiries and you need further assistance, you should communicate with an authorized business registration firm in Singapore.
