Asiabizservices Talks About Singapore Company Incorporation
A company that helps foreign individual, entrepreneur or a business professional who wants to setup a Singapore company as an individual.
by Linn Markley Wednesday, November 10, 2010
“The liability is limited to the owner’s investment in the company;” commenced Asiabiz, “in the event of incurring mounting debts, his personal assets cannot be seized by creditors nor can they go after the corporate members.”
“A private limited company can enter into contracts, possess assets, hold liabilities, and can file a lawsuit and be sued as well,” Singapore’s leading solution provider continued, referring to the notes from ACRA revealing more than 200,000 private limited companies established in 2010.
When it comes to raising the capital, Asiabiz is quick to coin its statement, saying that the entrepreneurs enjoy the ease of raising its amount through equity from loans obtained in banks or from new shareholders, both of which are healthy business operations and which are accomplished with much ease in Singapore.
In an uncommon circumstance, wherein, members are changed, the existence of the corporate perpetuates and its business ownership is transferred by means of selling the stock, allowing both the locals and the foreigners to join the business venture.
The business policy in Singapore, the city-state that ranks 1st in the 2011 Ease of Doing Business survey conducted among 183 economies by World Bank’s financial arm, the International Finance Corporation, incites business development and profitability.
“Foreigners can own 100% of company shares, a feature that makes Singapore stand out from among the rest apart from its impressive landmarks and sophisticated infrastructure,” a representative of Asiabiz could not help himself from beaming to the media and businessmen present.
“Its being treated as a separate legal entity is tantamount to being a local resident identity, and thus qualified the Singapore private limited company to low tax rates and a few tax incentives.”
In the city-state where a nation’s symbol is a rare merlion, local resident corporate entities are exempted from paying corporate tax for the first 3 years of its existence following its inception for its first accrued earning of S$100,000.
“For an annual income of not more than S$300,000, a Singapore private limited company maintains a tax rate of 8.5%,” the representative further explains, oblivious of how he caught the attention of everyone in the room, including the banquet servants.
Singapore’s tax incentives include a remarkably low rate at 4.25% to all existing companies for their first S$10,000 earnings, and 8.5% when it reaches up to S$300,00o, and for more than S$300,000 income, the rate is maintained at 17%.
Incorporating a company in Singapore is easy. Among its requirements are composing at least 1 local resident director who holds either a Singaporean citizenship, Permanent Residence, Entrepreneurs Pass, Employment Pass, or Dependent Pass.
Shareholders, too, are required, with a minimum of 1 and maximum of 50, while the company secretary appointed must be a local. Finally, a business address other than a Postal Box is a requisite as well.
Besides a private limited company, the island-state allows other business structures such as sole proprietorship, public limited company, public company limited by guarantee, partnership, limited partnership, general partnership, and limited liability partnership.
Singapore promises a bright future for its citizens and investors, “we are simply the best investment center in Asia Pacific,” said Asiabiz in a closing remark.
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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