Asiabizservices Discusses Singapore Company Registration Guidelines 

Asiabiz Services provides free consultation on which other business structures are lucrative in Singapore, and company name availability check.

by Ashley Varghese Thursday, December 23, 2010
The ideal business structure registered in Singapore is private limited. It is clothed with legal personality distinct from its shareholders and directors. Thus, in case of accountability, the shareholders can only be held for the shares they procure in a company.

A private limited can also engage in a lawsuit—to sue another company or individual or be sued against. By itself, it can acquire assets and properties and reserve the right to dispose them by majority will of its shareholders.

Before investors register a private limited, a few considerations must be pondered upon. Foreigners cannot lead the registration of the company in Singapore unless they are in possession of a labor pass. They must hire a company to take care of their business registration and other needs, in such case.

Asiabiz Services provides corporate solutions such as business consultation, company registration, continual compliance with requirements, and accounting and chartered secretarial services.

One of its business consultants says that investors must prepare the basic requirements which include the company name, directors, shareholders, company secretary, local business address, and share capital.

“A company name must be unique and does not resemble any other,” Han explains, “it must be decent and bears no infringement against trademarks, ethics, and morals.”

The individuals in forming the company are at least one shareholder, resident director, and company secretary.

Asiabizservices continues saying, “A private limited company can have as many as 50 shareholders who can also be among the directors and they can be a natural person or a corporate entity.”

Directors, meanwhile, can have unlimited number. Nonetheless, they must be a natural person as they are responsible for managing the business affairs. In Singapore, it is mandatory to have a resident director as the head of the board of directors. Among its requirements are at least 18 years of age, must not be a bankrupt or convicted of malpractice in the past, and must be of ordinary residence.

Asiabizservices explains that ordinary residence refers to being a citizen or permanent resident of Singapore. “For foreigners desiring to be the resident director—such as the investor himself or herself—an employment pass is necessary.”

The same thing can be said of the company secretary, who must be appointed within six months after its incorporation and his or her information is included in the Memorandum and Articles of Association submitted to ACRA.

“Besides being knowledgeable about the standard operating procedure in corporate, a company secretary must maintain his or her principal residence in Singapore,” continues Asiabizservices in explaining the basic guidelines in registering a company.

The minimum share capital is S$1 and which can be raised during the operations of the business. Of course, there must also be a local and valid business address registered with ACRA.

Han says of the address, “it could be a residential address, but it could never be a postal office box address.”

Asiabiz Services provides free consultation on which other business structures are lucrative in Singapore, and company name availability check.

About the Publisher:

Asiabizservices offers one-stop business solutions to companies, particularly, those that are managed and owned by foreign investors. Since its inception, Asiabizservices has successfully helped foreign entrepreneurs form a Singapore company. Among its specializations are Singapore company setup, corporate services, accounting services, nominee services, 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, accounting services including payroll preparation and more.

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. It also provides chartered secretarial services.

For more information visit:

AsiaBizServices PTE LTD
Address: 120 Telok Ayer Street Singapore 068589
Phone: +6563034614

0    submitted by Ashley Varghese
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