Singapore Company Formation For Foreign Individuals And Companies

PR Log (Press Release) – Oct 02, 2009 – One of the preferred company incorporation in Singapore is a private limited company. A private limited company is a business entity registered under the Singapore Companies Act, Chapter 50 where the number of shareholders is limited to 50. A Company has its own legal identity, separate from its shareholders (who own the company) and its directors (who manage the company).

Foreigners can freely incorporate a Singapore private limited company. Singapore allows 100% foreign shareholding.

To set up a company, you need to have a minimum of one shareholder, one director and one company secretary. A shareholder may be a corporation or an individual. Any person above the age of 18 years may be appointed as a director.

At least one director and the company secretary must be a resident of Singapore.  Companies without a Singapore-resident director can appoint a nominee director. The shareholder can also act as director. If the Company has only a shareholder cum director, he cannot act as the company secretary. There is also a minimum initial paid-up share capital of $1. A company must have a registered address in Singapore.

Any Singapore-resident citizen, Singapore Permanent Resident or Singapore Employment Pass/ EntrePass / Dependant Pass holder can be a nominee director. A nominee director will not have any role in the company except to satisfy the statutory requirements of a local resident director for your company.

Options for foreign Individual or Companies


COMPANY SETUP WITHOUT RELOCATION TO SINGAPORE

Foreign individuals or corporation who do not wish to relocate to Singapore, but have plans to remotely manage their Singapore company venture must however, appoint a local resident director in order to satisfy the Singapore Companies Act requirements.

COMPANY SETUP WITH RELOCATION TO SINGAPORE

If you plan to relocate to Singapore you have the choice of applying for an Employment Pass or EntrePass Pass. Both the work passes facilitate multiple entries and long-term stay of foreign entrepreneurs thus enabling the pass holder to actively manage the daily operations of the business. The successful applicant may also apply for dependent pass for immediate family members (For spouse and unmarried children below 21 years of age).

For more information, please call  +65 6534 8607 or visit http://www.asiabizservices.com