Starting a Company in Singapore
Since the globalization of Singapore economy and simplification of the process for Singapore company registration [ http://www.sbsgroup.com.sg/
Singapore citizens as well as permanent residents are also taking benefit of favorable business environment by going for new company setup in Singapore. Incorporation of company in Singapore for foreigners and locals is slightly different.
Locals can flash their citizenship documents and initiate the registration process. Singapore citizens and the permanent residents can register a;
1. Sole Proprietorship
2. Limited Liability Partnership
3. Private Limited Company
Foreign entrepreneurs, On the other hand, need visas, Immigration Passes and Entrepreneur Passes to manage their companies in Singapore. A foreign entrepreneur can setup a Singapore company [ http://www.sbsgroup.com.sg/
“Entrepreneur Pass, also known as EntrePass, is a work pass specially designed for the individuals who have vast experience in their own field of work to draw on, but, do not have paper qualifications. This work pass gives them an entry in the Singapore market,” said a veteran incorporation expert at SBS Consulting.
Depending on its business requirements, a foreign company can choose to incorporate a Singapore company in the form of a;
1. Subsidiary Company in Singapore
2. Branch Office
3. Representative Office
Following are the minimum requirements for incorporation of a company in Singapore:
1. Registered company name (ACRA approved)
2. Registered business address for the company office
3. Paid-up capital of minimum S$1 (S$50,000 for EntrePass holder)
4. A local director (nominee), above 18 years of age
5. A company secretary
6. Information about the shareholders, at least one
7. Brief information about the future business activities of the company
8. Memorandum and Articles of Association (MAA)
Following documents are required for a Singapore Incorporation:
1. For non-residents: Overseas residential address proof, copy of passport, and a bank reference letter, personal and business profile, etc.
2. For locals: Copy of Singapore identity card
3. For shareholder (corporate entity): Copy of Certificate of Incorporation and Memorandum & Articles of Association of parent company.
One can incorporate few other types of companies in Singapore. However, companies mentioned above are the most favored companies by entrepreneurs.
About SBS Consulting:
SBS Consulting gives its clients the best possible Singapore incorporation services [ http://www.sbsgroup.com.sg/
SBS Consulting Pte Ltd
35-B Hongkong Street,
Singapore - 059674