Asiabiz Talks about Pre-Incorporation Concerns 

Foreigners wishing to set up a business in Singapore can appoint Asiabizservices to handle the company registration in their behalf.

by Ashley Varghese Thursday, February 17, 2011
A private limited company is the common structure of business registered in Singapore. It is tax-efficient owing to its being a resident company. Treated with a separate legal status, a private limited company can, by its name, acquire assets and file a lawsuit. Consecutively, it can be charged against and acquire losses and liabilities.

Foreigners wishing to set up a business in Singapore can appoint Asiabizservices to handle the company registration in their behalf.

“Foreigners in most cases are not yet eligible to conduct such legal and business transactions since they do not hold the needed qualifications,” says Asiabizservices referring to the employment pass as among the required qualifications. Most transactions are done with a pass code derived from a National Registered Identity card or Singapore Personal Access card.

Foreigners shall coordinate with a company by submitting the needed documents and completing the requirements.

Asiabizservices explains, “Our clients provide us with documents such as the Memorandum and Articles of Association, Information of Shareholders and Directors and the company secretary, description of company activities, company name and its local address listed.”

The company name is the first that needs approval. It must be examined with ACRA for any duplicity. To be approved, a company name must be unique and does not bear any infringement of trademarks. Upon approval by ACRA, the documents are then forwarded.

Asiabizservices continues, among the requirements in forming a Singapore company includes at least one director, one shareholder and one company secretary.

“There must be one resident director which shall act as the head of the company,” adds Asiabizservices, “the resident director is either a citizen or a permanent resident of Singapore or an Employment Pass holder and lives in Singapore.” In case a shareholder or an investor needs relocation, he or she may submit an application for an Employment pass, which shall also make him or her eligible to reside in the resident director’s place.

Shareholders can also be directors themselves. Directors on the other hand, can also be a shareholder or a non-shareholder.

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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