For those who are looking for a healthy workplace to set up their new business, Singapore can be one of the best options because of all favorable conditions. The laws and regulations are well managed in this country and it will offer you easy procedure for registration of your company whether it is a new plant or you are thinking about relocation. There are mainly two types of incorporated companies in Singapore:
1. Private Limited Companies: In this case the maximum number of shareholders cannot exceed above fifty and they follow some restrictions over transfer of shares.
2. Public Companies: In this type of companies the number of shareholders can exceed above fifty members; company is allowed to raise its capital by offering debentures as well as shares to the public.
If you are searching for a handy guide to know about basic procedure for registration of company in Singapore then you are at right place because here you will get all necessary information about this task:
- In Singapore, Singapore incorporation services are fully computerized so you will avail quick and efficient service with less time.
- Under all normal circumstances you can get your company registered with in one or two days.
- There are two major tasks involved in company setup procedure at Singapore:
i. Name approval of Company.
ii. Registration of Company by approved name.
- You can complete both steps easily even within a single day in Singapore due to favorable and assisting working conditions.
- The company name is approved only if:
> It is not reserved by anyone at before you.
> It does not appear vulgar or obscene.
> Your selected name does not transgress with any other trademark.
> It is not same as any other registered local company.
- In case, your selected name is referred to any external authority then the approval process may get delayed by few days or weeks.
- Once the name for company gets approved and all your incorporation documents are ready, the filling process can be completed within few hours easily.
- Papers must be properly signed by directors as well as shareholders of your company.
- You will have to pay $300 as registration fee at office of registrar in Singapore if you are registering a Pvt. Ltd. Company.
- You will get following document issues after registration of your company:
> Certificate of Incorporation.
> Business Profile of Company: it will include all major details about your firm such as name, registration number, date, principle activities, registered address, details of shareholders, details of director and secretary.
- Once registration process is finished, now you can open a corporate bank account in any major bank of Singapore as like UOB, OCBC, DBS, Citibank, HSBC and many more.
- After this you have to work for business licenses as well as service tax registration.
This guide includes all necessary information about Singapore incorporation services; it is really very easy to establish business in this country and there are lots of factors that contribute for ultimate growth of business.