There are certain rules levied on companies before they can get incorporated in Singapore. Several providers offer company incorporation services Singapore. Some of them are as follows
One should get the name of the company approved from the responsible authority before the incorporation process starts.
There must be at least one director who resides in Singapore. However, there is no limitation to the total number of the resident as well as non-resident directors that can be present inside a company. The directors must be of 18 years or more, must not have any criminal record, and must not have a bankruptcy in the record.
There can be one to fifty shareholders who may be directors as well. The shareholders can be local as well as individuals or companies from a different country. Shareholders who are completely from a different State are also welcomed. After the incorporation process is complete one can issue and transfer shares at any time without any hassle.
A company secretary needs to be appointed who must be a qualified resident of Singapore, and this must be done between 6 months. The shareholders or sole directors cannot be the secretary of a company.
The company must have a share capital of at least one Singaporean Dollar in order to get the company incorporated. After the incorporation, the amount can be increased.
A local address that is present physically is a must for the registration process of the company. This address can be both commercials as well as residential however a post office box is not valid.
The companies once registered to get an attractive amount of incentives and tax exemptions. The tax on the first three lakhs Singapore Dollar is less than 9 percent of the total annual profit. This is followed by a fixed 17 percent rate. They are not required to pay dividend taxes. In case of any doubt, one can take help of experienced personnel and agencies who are always ready to assist companies or businesses who do not have much knowledge and wants to get incorporated in Singapore.
There are a lot of firms throughout Singapore that help new and emerging firms to get registered under the laws and rules of the country. The process of registration needs to be verified and met with several criteria before a company is stated to be a registered one that can conduct business over the global business platform in the corporate world. These firms provide service in the form of a helping hand for the organizations that are aiming to serve the global business and the common public to a greater extent. The rules and regulations associated with company incorporation in Singapore are based on paperwork and digital procedure both at the same time which needs to be fulfilled for completion of the incorporation procedure.
Company incorporation is not a simple job as it needs to go through several processes and procedures. The company is incorporating firms act as a pillar to serve all the jobs and execute the process in the smoothest manner possible for all the desiring firms that are emerging on the global business platform to conduct and serve the community through their offerings.