our comprehensive to-do guide also notes the other requirements in running a company in Singapore such as having a company seal and stamp.
Singapore (PRWEB) August 27, 2014
Singaporecompanyincorporation.sg, a portal for company registration consultancy services, has published a comprehensive guide on how to form a Singapore company for the benefit of local and foreign entrepreneurs. The guide, apart from listing the key requirements in registering a Singapore company, also details the main considerations involved in making such a decision.
“There are five basic requirements to register a company in Singapore. There must be at least one shareholder (individual or corporate entity), one Singapore-resident director, one company secretary, a physical address in Singapore, and the initial paid-up share capital of at least S$1,” said Ms. Cheryl Lee, manager at Singaporecompanyincorporation.sg.
Among the considerations, the important ones include choosing an appropriate company name and web address. Also, of note is the company’s shareholding pattern, and selecting its business activities with future growth in mind.
The guide also stresses on the importance of having a proper shareholders agreement in place to avoid any future disputes. This agreement defines the relationship between shareholders and specifies their respective rights and obligations.
The guide, additionally, informs the entrepreneurs on what documents they will receive on successful incorporation of their private limited company. This includes the company business profile, share certificate, first board resolution, and the bank account opening resolution.
“Our comprehensive to-do guide also notes the other requirements in running a company in Singapore such as having a company seal and stamp. As, every Singapore company needs to fulfill few filing and compliance requirements post-incorporation, it includes a section on how to file the corporate taxes and annual returns of the company. Tips on tax saving strategies such as how to determine the fiscal year of the company, and taking benefit from pro-business government schemes such as the Innovation and Capability Voucher (ICV), are mentioned too,” added Lee.
The guide comes at a time when Singapore’s company incorporation trends are showing a positive future outlook. The just-released mid-year trends for 2014 by Singapore’s Accounting and Corporate Regulatory Authority (ACRA) look set to improve on the 8.2 percent average annual growth rate of company formation recorded between 2010 and 2013.
“Another trend being witnessed in Singapore is that owners of sole proprietorships, realizing the benefits of a private limited company, are converting their sole proprietorships to private limited companies. We have published a separate to-do guide for such entrepreneurs as well,” concluded Ms. Lee.
To view the full guide, please visit http://www.singaporecompanyincorporation.sg/how-to/incorporate/a-beginners-guide-how-to-form-a-singapore-private-limited-company/.
For reading more on how to convert sole proprietorships to private limited companies, please go to http://www.singaporecompanyincorporation.sg/how-to/incorporate/converting-a-sole-proprietorship-into-a-singapore-private-limited-company/.
SingaporeCompanyIncorporation.sg is a portal for entrepreneurs and professionals who want to have a presence in Singapore. It is also a provider of company incorporation as well as the related taxation and relocation services in Singapore.
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