While planning to set up or move your business to Singapore, it is essential to know the registration guidelines of Singapore. According to the Singapore Companies Act, an individual (local or foreign) above the age of 18 can register a company in Singapore. A set of initial requirements needs to be comply with for starting a company in this country.
The following information is required to submit with the company registrar in order to carry out Singapore company registration:
Company name:
The first step will begin with the approval of name of the company. Therefore, to ensure a quick approval, you must check that the name is not identical to any existing local company's name. The name should not be obscene and already registered.
Business activities:
The registrar needs a detailed description of the business activities that you will perform. You have to mention, whether your company will provide services or deal in manufacturing. This is required to check out if an individual intends to carry out any illegal business. Singapore company registration is not possible for any of the prohibited business activity.
Details of the director:
It is mandatory for Singapore companies to have one resident director. A resident can be defined as a Singapore citizen, a permanent resident or an individual with an employment pass. The number of additional directors is not restricted, but all of them must be at least 18 years of age.
Along with the above information, you are also required to provide the registered address of the company, company secretary particulars, and shareholders' details. After the registrar get all the details, the company registration process will begin.
Yes all this is important. You need to know all this requirement and Singapore Company Act. But you don't need to take stress on this there are many professional service provider who can help you from start to end. One I know is sbsgroup.com.sg who is one stop professional services. Who will help to form company in Singapore and will make you understand all laws and company act of Singapore.
ReplyDelete