Asiabiz Provides Form a Singapore Company Services for Small Businesses
For the convenience of being able to decide how to run the business and which decisions to make, a sole proprietorship is appropriate.
by Ashley Varghese Tuesday, March 08, 2011
2011’s Budget was driven by goals of securing the financial capacity of its citizens by growing incomes by 30% within this decade. Finance Minister Tharman Shanmugaratnam chimes it is only possible by grooming the economy to growth, upgrading businesses and investing in honing skills, craftsmanship and service quality.
Meanwhile, the budget has also been planned to strengthen the economy of the whole city-state.
The government directs foreign companies and entrepreneurs to engage the professional business registration services if none of them is in possession of a Singapore Personal Access or National Registered Identity Card.
“These cards provide information that is used to access ACRA, the national governing body of business organizations in Singapore and the company registrar,” explains Asiabiz.
Private limited company is included as among the options in choosing the business structures even for small businesses. They can also prefer to adopt a sole proprietorship, partnership, and limited liability partnership.
“If entrepreneurs wish for protection from unlimited liability, they can opt for a private limited company or a limited liability partnership, both of which are cloaked with legal personality apart from their owners,” shares Asiabiz.
A private limited company requires three separate individual to constitute: resident director, shareholder, and company secretary. On the other hand, a limited liability partnership needs at least two partners that are either individuals or business entities.
“For the convenience of being able to decide how to run the business and which decisions to make, a sole proprietorship is appropriate,” utters Asiabiz.
It adds: “Documents such as Memorandum and Articles of Association for a private limited, and documents specifying the principal commercial activities of the business, and a copy of a valid ID of each business owners, partners, and shareholders are required during registration.”
In case a business entity is another partner, its company registration details are also included in the documents.
Asiabiz is a business solutions and processes provider based in Singapore. It extends services to investors such as business registration, immigration, payroll management, and securing the necessary business licenses and permit as pursuant to the nature of the business activities.
“After registration, we help foreign investors or entrepreneurs apply for a labor pass and open business or corporate bank accounts in Singapore, as well as apply for corresponding business licenses and permits,” chants Asiabiz.
Private limited companies may also engage other business solutions of Asiabiz like accounting, particularly bookkeeping and filing of annual returns with ACRA and IRAS.
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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