Asiabizservices Provides Singapore General Partnership Formation Services 

Partners may all be foreign nationals, and any one of them may be appointed as the local manager by having an Entrepreneur or Employment pass.

by Ashley Varghese Monday, January 17, 2011
Doing business is easiest in Singapore with its political and economic stability. Year 2010 concluded with 14.7% overall growth, and its government expects a 6% growth as it welcomes 2011.

Foreigners are especially attracted to Singapore’s business landscape as there is no restriction in foreign ownership and expatriation in employment. And investors can repatriate their investment capital and profits.

When it comes to taxes, there are no turnover, withholding, and capital gains taxes in Singapore. On the contrary, Singapore grants certain tax incentives and exemptions and tax reliefs as prescribed in double taxation treaties the city-state maintains with more than fifty countries.

Even a minimum of two individuals, either natural or corporate entity can join a business venture. General partnership, a business structure allowing two or more individuals to carry on a business, grants equal rights among partners to participate in the control and management of the business.

“Structure and control are among the benefits of a general partnership,” Asiabizservices chimes, stating in addition that, “profits are also shared equally among others unless they are expressly stated in an agreement.”

Partners may all be foreign nationals, and any one of them may be appointed as the local manager by having an Entrepreneur or Employment pass. Nonetheless, for them to register a general partnership, they must enlist the services of a professional firm.

“We handle everything, from registering a business name to submitting necessary documents for registration with ACRA, and to processing the applications for a work visa for foreign partners to relocate to Singapore.”

Registration of a business name does not take so much time as long as the proposed names are within the laws of Singapore. Business names, for instance, must not be identical to another company whether registered or reserved, so as to be mistaken for that company.

After a business name is approved, ACRA shall issue a Certification of Registered Company/Business Name. And if all other documents are ready, the registration can then commence.

Asiabizservices cites the required documents as description of principal activities, local business address for proposed business, copy of signature ID for the owner, local residential address of partners, and declaration of compliance and statement of non-disqualification.

Asiabizservices exclaims they also assist businessmen in preparing all these documents. “They may stay offshore while we carry out the registration of a business and application of labor passes including their Dependant pass for their spouses and children, as long as they forward to our office the information needed to complete such documents.”

After registration, certain business establishments may seek additional business permits and business licenses. Asiabiz extends its services by assisting businessmen secure all required permits and licenses. Even in payroll management, Asiabiz offers the best and accurate services.

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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