Asiabizservices Says Incorporate a Singapore Company Now
Singapore is expecting a GDP growth by 6% in 2011 with domestic demand of Asia as the primary driving force.
by Ashley Varghese Tuesday, December 07, 2010
Launched in 2003 as a response to the Economic Review Committee’s recommendation, it has since become active in reshaping the city-state into an innovative and entrepreneurial nation determined to take a proactive role and create fresh business undertakings. Recently and along with Nanyang Technology University, they became the third founding member of the World Entrepreneurship Forum and poised to host the WEF forum in 2011.
Singapore is expecting a GDP growth by 6% in 2011 with domestic demand of Asia as the primary driving force. Supporting the robust domestic demand in Asia are wage growth and government policies and healthy fundamentals.
“We also look forward to more economic activities in Singapore on account of new capacity additions in the progressive offerings of recreational facilities in the tourism-related services and manufacturing sector,” says Asiabizservices.
Singapore remains to be a major investment hub in Asia and beyond. Foreign companies can incorporate in the city-state in 3 options: subsidiary, branch, and representative offices.
“A subsidiary office is a private limited company,” Asiabizservices begins its explanation, “its name may not be the same with the parent company, can conduct all business activities in Singapore, and can be owned 100% by a foreign company.”
Its basic requirements include having a minimum of 1 shareholder that can either be a foreign or local individual or corporate shareholder and a resident director of ordinary residence. When it comes to liability, Asiabizservices is quick to say that the shareholders have limited liability.
A branch office does not have a separate legal personality. Thus, according to the laws, it cannot engage in any lawsuit and cannot acquire assets in its name.
“Its business name must be the same with the parent company,” Asiabizservices continues, “as well as its business activities.”
The company shall also appoint 2 Singapore resident agents who will act as the head of the branch. Just like the subsidiary office, the branch office too is required to file its company’s audit reports together with its parent company’s.
To determine the business potential in Singapore, a representative office is ideal. Although its activities are limited to conducting market research and coordinating with the parent company, it can be a useful vehicle in launching a product or services should the office progresses into a full-blown business after 3 years. “The chief representative appointed can reach out to distributors and agents to better understand the market demands,” Asiabizservices adds.
Singapore offers tax exemptions and benefits to resident companies like a private limited. Also, in certain sectors, the government awards tax incentives. The environment of Singapore is conducive to a business. Its technology is characterized by sophistication while its standard of living is comparable to the Western style.
Asiabizservices is a Singapore private limited company established since 1995 to help investors and entrepreneurs realize their business dreams by incorporating a company or registering a business firm in Singapore.
About the publisher:
Since its inception, Asiabizservices assists foreign entrepreneurs establish a company in Singapore. Among its specializations are corporate services, accounting services and nominee services.
Asiabizservices does not waver in its goal to establish its reputation in the industry by helping investors register a company in Singapore. Such efforts pay off as the company is among the prestigious corporate solutions providers in Singapore.
Among its specializations are Singapore company registration, whether as a sole proprietorship, private limited, limited liability partnership; offshore company formation, incorporation of foreign companies either as a branch or subsidiary office, and accounting services including payroll preparation.
Asiabizservices is the leading provider of Singapore Company Incorporation services and has successfully helped thousands of both local and foreign entrepreneurs Incorporate a Singapore Company.
For more information:
Address: 120 Telok Ayer Street Singapore 068589
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