Certain rules and requirements needed for an incorporate company Singapore
Relocating a new company in Singapore or incorporate a new company in Singapore is one of the most profitable option these days. In fact the point is that there are a lot of things that should be kept in mind in this respect. Although the immigration policy of Singapore is quite liberal. And the fact is that the Singapore provides one of the most important business destinations in the whole of Asia. Being the fourth leading financial center and a cosmopolitan world city plays a key role in the international trade and finance. Besides that Singapore has easy accessibility to all the important Asian economies like India, China, Malayasia and Japan. However, the business culture of Singapore is also quite a bit different from of the Western Countries.
However, being an entrepreneur yourself if you are trying to setup a business base at Singapore then it must be noted that first of all you will need a business license first. Now the fact is that there are a lot of things that should be kept in mind in this respect. Now the fact is that before you jump on the project it is essential to decide whether you want to setup a incorporate company in singapore, or want to open up a Singapore branch office or a subsidiary company in Singapore. After you have gone through this decision it is important that you have the necessary permission from ACRA the Accounting and Corporate Regulatory Authority of Singapore. It is important to note that ACRA plays the most vital role regarding the establishment of a new incorporate company in Singapore or a Singapore branch office.
Now regarding some of the basic requirements of establishing such a new incorporate company in Singapore is to have at least one resident director of at least 18 years of age and with no bankruptcy or criminal malpractice record and at least one shareholder. However, the director and the shareholder is allowed to be the same person. Along with that it is also essential to have a resident secretary for the company as well. Other than these there is also the requirement of a registered address. In this respect it is essential to note that the address must be a physical address and within the territories of Singapore. It cannot be a post box number and the use of residential address is only allowed for certain types of business only. However, along with all these it is a notable fact that the singapore company registration can both be a simple or a complicated process depending on the way you look at it. In fact the point is Singapore is not at all different from any other socially responsible country in the world and therefore Singapore also tries to ensure that any business setup within the jurisdiction of Singapore is a legitimate and a legal business and there is no forgery or fraud cases involved. Therefore it is essential to lodge the Memorandum and Article Association with ACRA. The function of the Memorandum is to specify the activities in which the company may engage in and the Articles of Association specifies the rules governing the internal management of the company.
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