Company Registration In Singapore: Tips For New Businesses

Many investors and business owners choose Singapore for their startup company because of its prosperous economy, techno-savvy industries, and business tax incentives, not to mention the easy Singapore registration process corporate service firms guarantee to people who want to set up business in the country.

Incorporation of a company is a process that takes time, knowledge and effort. There are few important things that one must keep in mind in order to keep the process of company formation in Singapore orderly and systematic.

Prerequisites. The following are the legal prerequisites new businesses must be aware of and meet for a successful company formation in the country:

Must have at least one shareowner (may be a local or foreign individual). Must have one director, and he or she must be 18 years old and above and a Singapore citizen. Must raise a minimum paid-up capital of S$1 Has an official adress in this country Must have a competent corporate secretary. Has an approved company name that is indsutry-specific and includes no obscene language Has secured licenses and permits for particular industries.

Memorandum and Articles of Association. New businesses are also required to submit a memorandum and articles of association to the Registrar of Companies. The memorandum defines or states the nature of the company and the articles of association set the provisions that regulate the company’s internal management. Before new businesses in Singapore are required to provide an object of clause on the memorandum. But this rule was lifted to allow companies to become more flexible in terms of the activities they wish to promote or pursue in the future.

The incorporation of a company requires time and effort and as well as knowledge and money to make sure the company is properly set up. Providers of corporate services in Singapore can make company registration in this country faster and hassle-free. So let the expert take charge of this job.

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