subject: Requirements for Foreigners Who Want to Form a Singapore Company by Asiabiz [print this page] Requirements for Foreigners Who Want to Form a Singapore Company by Asiabiz
Singapore has remained to be the number one choice for business locations worldwide. In fact, the World Bank Ease of Doing Business 2010 Report gave Singapore a top position in the list of World's Easiest Place to do Business. This repute is the major reason why most foreign businessmen want to form a Singapore company with a goal of having an established company operation in a shorter period of time. Another reason why foreign businessmen are confident in investing on Singapore is the favorable corporate taxation and tax exemptions given to startup businesses. New 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. After discussing some of the common benefits of a Singapore company, we are going to give you an overview of available business structures and important documents that you need to furnish or secure. Let us start with the foreign business structures. Please take note of the following: - Branch office: A branch office is an extension of its foreign parent company and is not a separate legal entity. Liabilities extend to the parent company. - Subsidiary: A subsidiary is a Singapore private limited company and is a separate legal entity. Liability is limited to the subsidiary and does not extend to the foreign parent company. - Representative office (RO): A RO has no legal status and is a temporary administrative office meant for conducting market research or co-coordinating activities. Liabilities extend to the foreign parent company. Next, after you have identified the business structure that is suitable to your company objectives, you can now start preparing these documents: - The approved name of your Singapore corporation;
- A brief description of the proposed business activities that your Singapore corporation will engage in;
- Particulars of the Singapore corporation's directors, shareholders and company - The corporation's Memorandum and Articles of Association (MAA);
- Passport copies or Singapore Identity card (IC) copies of proposed shareholders and directors;
- Residential address proof of proposed non-resident shareholders and directors; and
- Details of the parent company if the shareholder is a corporate body. Now that you were able to have a brief overview of a Singapore company, you can now use this for your feasibility study or you might want to immediately consider the services of a business registration firm in Singapore for a more personalized and professional business registration assistance. For more info please visit: http://www.asiabizsetup.net/singapore-company-incorporation/ , http://www.asiabizsetup.net/singapore-company-registration-for-foreign-individuals/
