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Follow on Google News | Singapore Company Set Up ProceduresSummarizes the key aspects of setting up a company in Singapore, including the procedures followed and requirements of the company.
By: Healy Consultants When using a corporate services firm the typical incorporation procedure is as follows: i) The corporate services firm collects the required due diligence and confirms the required services ii) Agreement is made on the preferred corporate structure for the company iii) The preferred company name availability is checked via the Accounting and Regulatory Authority of Singapore (ACRA). If verified, the incorporation begins. iv) Shareholder and Director details are collected to be lodged with the Singapore government as part of the company incorporation v) The certificate of incorporation is sent from the Singapore Registrar of Companies vi) Director / Shareholder / Secretary documents are lodged with the Singapore company registrar vii) Application is lodged for the Business registration certificate Apart from completing the company incorporation, other important aspects of setting up a company in Singapore are opening a corporate bank account and setting up the appropriate office facilities. Entrepreneurs typically choose a leading international bank to open a corporate bank account for their Singapore business. This is primarily because of the availability of multi-currency accounts and world class internet banking facilities. In terms of office space, using Virtual Office Services gives an international entrepreneur a cost efficient means to conduct business in Singapore and internationally. A virtual office provides professional facilities but also the cost advantage of not having a large financial commitment of renting a dedicated office. The basic requirements of Singapore Company Incorporation are: • Minimum 1 director and 1 shareholder • At least one director must be a local resident. • Must have a local registered address • Must have a local qualifies company secretary • Minimum paid up capital of $1 Healy Consultants is a leading corporate services firm providing international clients with all Singapore company formation requirements. The firm provides a range of services for Asia business set up and offshore investing. More information on company incorporation can be found by visiting Healy Consultants website. Healy Consultants Pte Ltd #18-01 Thong Sia Building, 30 Bideford road email: email@healyconsultants.com # # # Healy Consultants assists international clients with offshore company formation and corporate advisory services. Headquartered in Singapore, we have an unrivalled knowledge of Asia business set up and a comprehensive understanding of legitimate, tax efficient financial structures. From offshore banking and Hong Kong company formation to Asia property investment and Singapore company incorporation, we pride ourselves on personalised customer service. End
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