Asiabiz Handles Registration for a Partnership and Applications for Business Permits and Licenses 

Each year, Singapore strengthens its reputation being the favorite destination for investment. It has been labeled as the Switzerland of Asia especially that last year, many of the private banking institutions and depositors detoured to Singapore.

by Ashley Varghese Wednesday, February 23, 2011
One of the easiest business structures to establish and manage is a partnership. When it comes to legal requirements, it has the least. Auditing for example is not obligatory in a partnership. Thus, after registration, the partners are not required to appoint an auditor, unless, there is a legal order by the court directing the partners to do so.

A partnership can be formal, where each of them spells out his own role and obligations in a written agreement. It can also be informal, where the agreements are expressed verbally only. Anybody can be a partner, whether a natural person or another business entity.

Each year, Singapore strengthens its reputation being the favorite destination for investment. It has been labelled as the Switzerland of Asia especially that last year, many of the private banking institutions and depositors detoured to Singapore.

Singapore allows 100% foreign ownership and management of all types of business structures. Nevertheless, before they can get started and unless any of the partners is in possession of a Singapore Personal Access, they cannot handle personally the business registration.

They ought to hire a professional firm to assist them in all their business needs.

“Partners must provide documents containing their personal information. This includes any valid ID issued by a distinguished institution in Singapore like the government agencies or private companies. In case the partners are foreign nationals, a photocopy of the passport providing the basic personal information of the holder,” says one of the business consultants of Asiabiz.

For many years, Asiabiz has assisted foreign and local investors in their business issues.

Included in the documents are a Certificate of Business Name issued by ACRA after a business name is proposed for approval, description of principal activities, declaration of compliance and statement of non-disqualification, and local business address of the proposed business.

Foreign partners should appoint a local manager of the business in Singapore. Should any of the partners—which can reach a maximum number of 20—aspire to become the local manager; he must seek first the approval of the Ministry of Manpower.

After the registration, a business may be obliged to secure additional business licenses and permits commensurate to the nature of activities of a business.

Besides the registration of a business and processing of application for a labor pass, Asiabiz Services also extends assistance so a partnership business is able to meet all the requirements as per the stipulations of the Partnership Act.

Among the services is assistance in obtaining licenses such as to sell beverages, meat and poultry products, educational licenses, and permits such as building construction, fire safety, and more.

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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