Rikvin Explains Advantages of Different Singapore Company Formations 

A Company that have a complete benefits that help foreign and local entrepreneurs setting their own business in Singapore.

by Milton Schwartz Friday, November 26, 2010
Singapore’s business potential is not exclusive to its residents. Thus it is known to be a global financial hub, the city-state’s environment attracts foreigners from across the borders.

Strengthening its resolution to lead the world in entrepreneurship, Singapore offers 2 business options to foreign investors—explore a business opportunity by setting up a company or expand/form an offshore business by incorporating it in Singapore.

Either way, several advantages can be observed. Foreigners can form a Singapore company with choices of business structures such as sole proprietorship, partnership, private limited, and limited liability.

In an explanation provided by Rikvin, a company established in 1995 and accredited by ACRA to provide professional services including corporate solutions, a sole proprietorship is the simplest form for it requires no partner, allows a 100% shareholding.

Should investors opt for a partnership, Rikvin says, “there should be a minimum of 2 owners that can either be a company or a natural living person.”

In a private limited, there exists a General Partner that exercises authority over the business including its management, and a Limited Partner that enjoys limited liability for any losses and debts acquired by the company.

Rikvin continues its elaboration on different business structures, “a limited liability does not have a maximum limit of the number of owners, however, it requires a minimum of 2 owners that can be another company or a natural person.”

Rikvin adds that “a local manager is appointed who holds an ordinary residence in Singapore in all business structures.”

Foreign companies can also settle in Singapore by registering an office like a representative, branch or a subsidiary.

“In a representative office, the nature of such business structure is to explore the market potential in Singapore,” Rikvin resumes its explanation, “thus, its activities are limited to conducting research, product promotion, and other non-profit yielding endeavors.”

If foreigners wish to enhance its income system, a branch office is the most appropriate. According to Rikvin, although it is treated as an extension of a foreign parent company, it has the capacity to reach out to local distributors and agents, thereby, understanding the real needs of the market.

On the other hand, a subsidiary office is considered the most desirable because of its limited liability feature, tax incentives and benefits characteristic, and legal status accorded by the government.

Nonetheless, regardless of the business vehicle chosen, Rikvin promises that foreigners are allowed to repatriate their earnings and import their capital. They can even run the business from the vicinity of Singapore through a working visa or from elsewhere.

About the Publisher:
Rikvin, for many years has been helping entrepreneurs in the local and abroad to handle the company registration services in Singapore in their behalf, unless the investors themselves are eligible to initiate the registration.

Among other services, Rikvin specializes in Singapore Company Registrar, Singapore Gst Services, registration of a new company, accounting and secretarial services as well as compliance with statutory requirements like nominating a resident director.

For more information, visit:
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email : info@rikvin.com

Rikvin provides Singapore Company Registration service including securing your Singapore Employment Pass and Singapore EntrePass Visa for Singapore Business Migration.

0    submitted by Milton Schwartz
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