Rikvin Supports In Application Of Employment Pass And Limited Liability Partnership Registration 

Rikvin provides Singapore Company Registration service including securing your Singapore Employment Pass and Singapore EntrePass Visa for Singapore Business Migration.

by Alanya Kurt Wednesday, February 23, 2011
Singapore never fails to attract foreign investments. Its entrepreneurial landscape is built on robust infrastructure especially in taxation, information, technology, and safety in environment. In the recent report released by the Ministry of Trade and Industry, the government eyes a GDP growth of 4 to 6% for 2011 after a strong economic conclusion of 2010.

Being a favorite hub in investments, Singapore allows 100% foreign ownership and management. The laws of the city-state however forbid foreign companies and entrepreneurs from personally initiating the procedure of business registration or company incorporation. To help them achieve business pursuits, they ought to employ the services of a professional firm.

Many entrepreneurs favor the limited liability partnership because of the amalgam of a partnership and a private limited company features.

“Partners in a Singapore limited liability partnership are not accountable for the negligence and erroneous decisions made by individual partner. Rather, a partner is liable for his own commissions,” says one of the business consultants of Rikvin. Rikvin is a Singapore-based business solutions provider.

A limited liability partnership is cloaked with its own legal personality. Thence, it can own assets and properties and can be engaged in lawsuits. Registering it with ACRA requires at least two partners.

Says Rikvin: “These partners can either be natural persons or another business entity or corporate body.”

If one of the partners is another company, its Singapore company registration details are included in the documents required during registration. Other documents needed are Declaration of Compliance, Consent to Act as Manager and Statement of Non-Disqualification to Act as Manager, and documents containing the personal information of each partner.

After the registration, Rikvin can help partners in forging the Partnership Agreement outlining the rights and responsibilities of the business and its partners.

Businesses owned entirely by foreigners ought to appoint a local manager to manage the affairs of the business. A limited liability partnership is no exception.

Nonetheless, should any of the partners aim to be appointed as the local manager, an Employment pass is a requisite along with prior approval from the Ministry of Manpower.

“An Employment pass is achieved by meeting important qualifications such as completing a tertiary level of education, establishing one’s reputation in a given field by spending years working in that industry, and the amount of salary earned which should not fall below S$2,500.”

About the Publisher:
Rikvin has successfully helped foreign and local entrepreneurs form a Singapore company. The company provides complete corporate solutions to investors and entrepreneurs both local and abroad. Among its specializations are Singapore company incorporation, Singapore company setup and providing professional services relating to financing and compliance services.

Rikvin assures its clients of confidence in dealing with every transaction. Its employees maintain competence and above all, Rikvin’s principles adhere to business ethics and all applicable laws. Its goal is to provide a highly personalized and proffesional service worthy of our clients loyalty.

“Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions.”

For more information, visit:
Rikvin PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email : info@rikvin.com
Website: http://www.rikvin.com/

Rikvin provides Singapore Company Registration service including securing your Singapore Employment Pass and Singapore EntrePass Visa for Singapore Business Migration.

General | Categories: financial, business
0    submitted by Alanya Kurt
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