Company incorporation in Singapore is one of the fastest and most uncomplicated procedures in the world. The precise enactment of the regulations and guidelines is for the benefit of both the government and the businesses to preserve the legitimacy of the business industry. And maybe the relatively simple procedure is one of the reasons why Singapore is a preferred business location of a lot of entrepreneurs all over the world.
There are a number of steps you need to follow if you want to incorporate your company in the country. You first must obtain the approval of the Accounting and Corporate Regulatory Authority (ACRA) in selecting the name of your company. ACRA will deny your proposed name if it is undesirable, has name or trademark similar to already well-known names, or if it is similar to another existing business name. And unless it needs more review from external authorities or if ACRA discovers any other complaints, the name will just take two to three hours to get approved.
After the name authorization, you can now organize registration files and incorporate the business within the same day if the documents already have the the signature of the directors and shareholders. You need one resident director and one shareholder to sign the papers. For the resident director, he or she must possess a citizenship or a permanent residency, or an EntrePass, Employment Pass or Dependent Pass.
You would need to hire a secretary who has a chief place of residence in Singapore within six months of registering your business. If you are a local resident, you have an option of whether or not to hire a professional corporate services company to help you with the process. But if you are a foreigner, it is a requirement to employ a corporate services firm to act on your behalf.
It is only $1 to incorporate a business. That's the minimum paid-up capital requisite. You can open bank accounts up to two weeks after incorporating your company. You can finish the entire process in just one to two days unless ACRA needs extra details about your directors and shareholders or if there are additional objections to the proposed name.
There are a number of steps you need to follow if you want to incorporate your company in the country. You first must obtain the approval of the Accounting and Corporate Regulatory Authority (ACRA) in selecting the name of your company. ACRA will deny your proposed name if it is undesirable, has name or trademark similar to already well-known names, or if it is similar to another existing business name. And unless it needs more review from external authorities or if ACRA discovers any other complaints, the name will just take two to three hours to get approved.
After the name authorization, you can now organize registration files and incorporate the business within the same day if the documents already have the the signature of the directors and shareholders. You need one resident director and one shareholder to sign the papers. For the resident director, he or she must possess a citizenship or a permanent residency, or an EntrePass, Employment Pass or Dependent Pass.
You would need to hire a secretary who has a chief place of residence in Singapore within six months of registering your business. If you are a local resident, you have an option of whether or not to hire a professional corporate services company to help you with the process. But if you are a foreigner, it is a requirement to employ a corporate services firm to act on your behalf.
It is only $1 to incorporate a business. That's the minimum paid-up capital requisite. You can open bank accounts up to two weeks after incorporating your company. You can finish the entire process in just one to two days unless ACRA needs extra details about your directors and shareholders or if there are additional objections to the proposed name.
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