Having a business is one major challenge for entrepreneurs and other businessmen. However, achieving competitiveness and success is far more challenging.
The place where your business is addressed is also a major factor for your establishment’s fortune.
Generally, most successful business organizations are residing in countries with established economic status disregarding its population or its geographical size.
Singapore is the best example of the country that has an established economic status and friendly business environment suited for most entrepreneurs to suit up their businesses. The country helps local and foreign business agencies to achieve commercial success and marketing competitiveness by providing them winning solutions.
Singapore is recognized by major award-giving bodies for business excellence. In 2009, the country was recognized as the “Best Business City in Southeast Asia” by the Business Traveler Asia Pacific Travel Awards and “4th Best Country for Business” in 2009 Forbes Best Countries for Business Annual Rankings.
Registering a Company in Singapore:
For businessmen who are searching for a good business site, Singapore is the best country for you. We will also provide you some tips on how and about the things you need to know about how to register a company in Singapore.
Most business organizations in Singapore are registered as private limited liability companies. In Singapore, a private company is an independent legal entity and the liability of the shareholders is limited. The stockholders are not anymore liable for the corporation’s debt beyond the quantity of share capital they have contributed. Moreover, any foreign or local person 18 years old or above can have a Singapore company registration. This is according to the Singapore Companies Act.
Important facts about company registration
• The company name – Verify the availability of your company name and make sure the name of the corporation must be unique.
• Directors – you must have at least one Singaporean resident director, a permanent resident in the country. You can have any number of additional foreign or local directors you want to appoint as long as they are all 18 years old or older and must not be bankrupt or convicted for any unlawful practice at the past.
• Shareholders – a private limited company in Singapore can have a minimum of 1 but not more than 50 shareholders. The director may also be a shareholder at the same time. Pure shareholding is allowed, which means that it can be either 100% local or foreign shareholding.
• Company secretary – a corporation should appoint a suitable company secretary within the 6 months of its incorporation. He or she must be a natural ordinary resident in Singapore. This is according to Section 171 of the Singapore Companies Act.
• Company registration procedure and timeline – the incorporation process is quick and efficient without bureaucratic red-tape involved because the entire procedure is fully computerized by the Singapore Registrar of Companies. Normally, a company can be incorporated from 1 to 2 days.
Singapore is an ideal country to where your business should be established. It has all the characteristics all businessmen needs. Moreover, incorporation is very much fast and easy.
A1 Business Pte Ltd
10 Anson Road #26-04 International Plaza,
Phone: +65 6100 6673
E-mail: [email protected]