For those intending to establish a presence in Asia, Singapore is an ideal choice, indeed. In this context, reading our new guide will be the perfect starting point
Singapore (PRWEB) February 27, 2015
Singapore-incorporation.net, Singapore's foremost company incorporation and immigration consultancy portal, shares important company formation insights in its new guide for startups and entrepreneurs.
The Guide gives a snapshot of the basics of Singapore incorporation, including the statutory requirements, registration procedure and timeline, among others. The Guide further outlines the requirements for foreign individuals and multinational corporate entities wishing to incorporate a company in the city-state.
Some of the items discussed in the guide are as follows:
In Singapore, there are five statutory requirements that need to be fulfilled in order to incorporate a private limited company, namely: (1) at least one shareholder; (2) at least one director who is ordinarily resident of Singapore; (3) one company secretary; (4) a minimum paid-up capital of S$1 in any currency; and (5) a local registered office address.
In addition to providing a clear-cut picture on the entire process of company formation, the guide also covers the relevant post-incorporation considerations. These include: opening a corporate bank account; Goods & Service Tax (GST) registration; or acquiring licenses and permits, if applicable.
The city-state’s pro-business stance supports entrepreneurs through funding, financing schemes and tax incentives. In Singapore, there are favorable government policies targeted at both domestic and foreign firms, including favorable tax treatment as well as licensing and industry regulations.
Notably, the Singapore government offers several incentives for start-ups, such as full or partial tax exemption schemes for newly incorporated companies, the Productivity and Innovation Credit Scheme to encourage skills-upgrading and productivity investments, and other industry-specific tax concessions.
“Singapore’s primary pull factor for entrepreneurs and investors is the relative ease and simplicity of setting up a company here. The incorporation process is immensely straightforward, and if all the documents are in place, we can register a company within a day’s time,” said Christine Lim, manager at Singapore-incorporation.net.
“Moreover, Singapore continues to be a regional, if not global, hub for business because of its strategic location, business-friendly policies, and the availability of qualified talent,” she continued.
“For those intending to establish a presence in Asia, Singapore is an ideal choice, indeed. In this context, reading our new guide will be the perfect starting point,” she concluded.
To read the complete guide, click here.
Singapore Incorporation Online provides corporate services including the registration of companies and businesses in Singapore, compliance and tax advisory services and immigration services including application for work visas and other business related visas. Singapore Incorporation Online is a full-service corporate service provider company providing a full range of corporate, compliance, tax and immigration support services.
Phone: +65 6305 2414
Fax: +65 6305 2415