Asiabizservices Offers Singapore Company Incorporation Services
A company that helps foreign individual, entrepreneur or a business professional who wants to setup a Singapore company as an individual.
by Oscar Lange Tuesday, November 09, 2010
“Even while the foreigners stay overseas, they can setup a company in the island-state by appointing a local resident director,” explained one of Singapore’s best corporate solution provider, Asiabiz, “whom shall hold an ordinary residence and must be 18 years of age upon appointment.”
Someone can be said to be holding an ordinary residence when that individual is a Singaporean citizen or a Permanent Resident.
“The local authorities are sympathetic about foreigners, thus, for statutory compliance, a Nominee Director Service offered by company such as Asiabiz can be employed in the absence of having someone qualified to be appointed as a local resident director.”
“Generally, the nominee director is not awarded with any significant role in the company, except, to satisfy the statutory requirements mandated by Singapore Companies Act,” elaborated Asiabiz, “thus, neither is he obliged to partake in business operations such as management nor is he appropriated with any corporate powers.”
Nevertheless, for foreigners who wish to have a foreign individual assigned as the local resident director, a solution is readily available.
“They only have to apply for a working visa such as Entrepreneur Pass, Employment Pass or Dependent Pass,” answered Asiabiz.
Besides this, a foreign company may also comply with other requirements including appointing a company secretary, a minimum of 1 director and 1 shareholder, registering an office address, and furnishing a minimum paid-up capital of S$1, the lowest in Asia Pacific.
The company secretary, appointed within 6 months after the company incorporation must also be of ordinary residence and whom should be another person other than the sole director or shareholder.
The paid-up capital, known as the portion of share the company has appropriated, must be paid up immediately into the corporate bank accounts upon its incorporation.
“The paid-up capital can be raised at any time after the incorporation of a company,” Asiabiz continued its elaboration, “and can also be used freely for the entrepreneur’s business expenses.”
Moving forward, relocation to Singapore is also a pretty option for foreigners. Being a favorite investment center in Asia and the Pacific, the city-state is home to people from different races enjoying a high-standard of lifestyle.
For foreigners to relocate to Singapore, they may need to obtain either of the working visas.
“To qualify for an Employment Pass, the Ministry of Manpower assesses the applicant’s eligibility based on his fixed minimum monthly income which should not fall below S$2,500, specialization skills, relevant work experience, professional skills, and educational degree or diploma”, cited the Singaporean-based corporate solution provider.
In continuation, “for foreign investors to possess an Entrepreneur’s Pass, they must be equipped with relevant experience and good track record detailing their prowess in constituting a business or creating a business proposal.”
There should also be a submission of a 10-page business plan elaborating on business goals, expenditures, and objectives. Needless to say, the Minister of Manpower is curious about satisfying the local employment requirement of one year.
The beauty of incorporating a company in Singapore is the convenience inherently present among foreigners.
“They are not the ones carrying the tasks of company incorporation in Singapore,” Asiabiz stated in clarification, “that is the reason why business firms such as ours are created.”
From registration of a Singapore company to setting it up, Asiabizservices is a competent firm that has satisfied hundreds of entrepreneurs. Among its specializations include services such as accounting, company incorporation, providing a nominee director, and assisting in opening corporate bank accounts and compliance of requirements.
Asiabizservices.com is the leading company that provides Singapore Company Incorporation services to both local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation, accounting and book keeping requirements, and other business compliance matters. AsiaBiz has successfully helped thousands of foreign and local entrepreneurs Form a Singapore Sole Proprietor.
Asiabizservices Pte Ltd
120 Telok Ayer Street Singapore 068589
Phone: (65) 6242 6533
Fax: (65) 6303 2670
Singapore Company Formation Service, We provide company registration,incorporation, immigration, accounting and taxation services to entrepreneurs and businesses worldwide.
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