Form Your Singapore Company In 4 Easy Steps
Because of its notable growing economy, Singapore is considered a global city. As such global city, Singapore maintains its reputation as a favorite tourist destination and hotspot for job seekers. Adding to Singapore’s popularity, Singapore has also gained worldwide a good reputation as a pro-business country. In 2010, the country was also recognized by the World Bank’s Business Report as the leading country in its World’s Easiest to Do Business.
For business entrepreneurs who are seeking for a globally competitive advantage, the following are the pertinent basic information. If you are one of these businessmen who are seeking for the right answers about Singapore company formation, then this is the right place for you.
The steps to Singapore company formation are as follows:
1. Foreign individuals or entities are not allowed to self-register under the Singapore Companies Act. Rikvin, Singapore’s leading incorporation specialist can assist you in setting up your company.
2. Make sure that all necessary documents for registration are on hand and all requirements are followed in order to ensure quick processing. Some of the common requirements are prepared below.
3. A Singapore resident director of the company must be appointed. To be a Singapore resident, you must either be a Singapore citizen, permanent resident or an EP or EntrePass holder. If you find it difficult to appoint a Singapore resident director, Rikvin’s Nominee Director Service can provide you one. Depending on your certain needs, this service may be temporary or long term.
4. A Singapore address shall be provided as the registered address for the company. Rikvin’s Registered Address Service can also provide you the registered address being required.
For your Singapore company formation checklist, we are giving you additional requirements in order to make the information complete.
Company name: The company name must be approved by the Singapore Accounting and Corporate Regulatory Authority (ACRA) and must be unique and desirable.
Shareholders: A minimum of one to a maximum of 50 shareholders, either corporate or individual, is required. The shareholders may either be 100%% owned by a foreigner or a combination of resident and foreign shareholders. The details about the directors are available publicly.
Company Secretary: A company secretary who must be a Singapore resident must be appointed within six months of incorporation.
Share Capital/Paid-up Capital: A minimum of S$1 or its equivalent in any currencies is the minimum paid-up capital for registration of a Singapore company. A one share of par value is the minimum issued capital. It is not permitted to issue “Bearer” or “No par value” shares. After incorporation of the company, the Share or paid-up capital can be increased anytime.
Memorandum and Articles of Association: The Company must submit to the ACRA its Memorandum and Articles of Association. The Memorandum contains the activities to be engaged in by the company while the Articles of Association contains the rules governing the internal management of the company.
Rikvin offers business solutions for local and offshore investors and entrepreneurs. The companies specialties are Singapore Company Registration, Singapore Company Setup and providing professional services related to economics and administrative. Rikvin specializes in the processing of work visas and services, as the candidate instructor, as a shareholder candidate test items, accounting, payroll and secretarial services.
Rikvin has effectively facilitated both non-resident and resident financiers build business firms in Singapore. Incoming calls in our phones are answered by live persons and not by an answering machine. We recognize the importance of your time and we are aware that technology cannot replace a person most especially, when we need to make vital business moves. If you are interested in learning more about Rikvin’s Services kindly email us at info@rikvin.com or give us a call at +65 64838887.
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