Asiabizservices Educates On Form Singapore Company Requirements
Asiabiz commits its more than a decade of expertise in handling the needs of international businessmen.
by Ashley Varghese Monday, March 07, 2011
“Only those who encompass their investments in a company can be made accountable to shareholders and nothing more,” says Asiabiz Services, a firm based in Singapore creating business solutions and processes for investors, local and foreign.
The first requirement to comply is the approval of a business name. It is done by submitting a proposed name to ACRA through BizFile, and after a few hours, the result can be determined.
“Once the name is evaluated for availability and conformity, the company may register or reserve it,” chimes Asiabiz.
It continues: “Investors may register the name and thereafter, ACRA shall issue via an e-mail a Certificate of Company Name. However, if the investors are not yet ready to register, it can be reserved with ACRA for two months, and even extended following a formal request executed by authorized personnel.”
A private limited company requires three distinct individuals in its constitution: a shareholder, resident director, and company secretary, all of whom must be of legal age and capacity.
Asiabiz adds: “A resident director ought to be a local either a permanent resident or a natural citizen. It can also be a foreign national such as either of the shareholders by obtaining a Singapore Employment Visa or Entrepreneur pass.”
Asiabiz offers nominee director for international companies just so they can proceed with the registration. After the incorporation, Asiabiz shall handle the application for the employment pass for the appointed director and all other foreign staffs.
“Only registered companies can apply for a labor pass through sponsorship as the Employment pass is company-exclusive,” explains Asiabiz.
Among the documents required are the Certificate of Company Name and Memorandum and Articles of Association containing information such as the personal details of the resident director and all other directors, shareholders, and company secretary.
“It also catalogues the principal activities of the company, its local physical address, and the capital share the investors paid,” utters Asiabiz.
In Singapore, the minimum paid up capital is set at S$1, which can be raised during the operations of the company.
Foreigners are prohibited from handling personally the registration for a company except if the investors hold a Singapore Personal Access card or National Registered Identity card, which contain log in information to access ACRA.
Asiabiz commits its more than a decade of expertise in handling the needs of international businessmen. Included in its specializations are immigration, accounting and nominee services, as well as company secretaryship and webhosting.
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
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