Useful Tips On Singapore Company Registration By Rikvin

Singapore relocation can be a very good move for many reasons. Singapore is ranked number one in world competitiveness by the IMD. The IMD is the International Institute for Management Development1, and every year it ranks countries by world competitiveness. For many years, the U.S. has been number one. However, that place is now occupied by Singapore in the 2010 yearbook.



Managing a business is about managing people and managing yourself. Getting industry experience even at a junior management level will go a long way in helping you to start and manage your small business successfully.



If you are planning on starting a business in Singapore here are some useful tips that can help you in the Singapore business incorporation process.



Singapore Companies Act



To begin business formation in Singapore you must be familiar with the Singapore Companies Act (SCA). Singapore companies are primarily governed by the Singapore Companies Act, but it must be noted that companies may fall under regulations of other statutes based on the type of business they are into.



Requirements for Singapore business set up



• The law states that the in order to set up a company in Singapore, the company must have a minimum of 1 Shareholder + 1 Director + 1 Company Secretary



The director:



The director of the Singapore business setup must be a citizen or permanent resident of Singapore. He/she may also be Singapore Employment Pass holder. The director of the company must be above 18 years of age and must not be bankrupt nor have prior record of malpractice.



The shareholder



The law allows a maximum of 50 shareholders for a Singapore business setup. The share holders may be individuals or a corporate entity. The said director can be the shareholder as well or they can be separate individuals. 100% local or foreign shareholding is permitted.



The company secretary



According to the SCA, a Singapore business set up must have a company secretary. The company secretary needs to be appointed within six months of company incorporation and he/she must be a resident of Singapore.



• The company must also have a minimum initial paid-up share capital is S$1



The minimum paid-up capital for registration of a Singapore company is S$1 unless if you are an EntrePass holder in which case the paid-up capital will be S$50,000.



• The Singapore company setup must have a Singapore registered office address. The office address must be a Singapore registered address and addresses with a PO Box are not allowed.



Singapore company formation is made much simpler with the help of a professional business start up service. A professional service provider can aid you in the process of company incorporation in Singapore. A professional service provider will not only assist you in registering a company in Singapore but will also assist you throughout the entire process of business incorporation.



Author Box:

Rikvin is a leading corporate services firm that assists entrepreneurs and investors with the processes required to form a Singapore company, along with a range of other corporate services. Rikvin caters to the needs of foreign investments in terms of Singapore company registration, processing of work visas, and post-incorporation considerations including obtaining business license and permit and compliance matters.



"Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions." 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