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Form a Singapore Company? Why a Great Choice?

 


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There are number a of options for foreigners to setup a company on various countries but Singapore remains a popular investment destination due to its very competitive tax incentives.

In Singapore, new companies are required to pay zero dollars in taxes on the first S$100,000 of chargeable income for the first three consecutive years. While a further exemption of 50% is also provided on the next S$200,000 of chargeable income.

Investors looking to put up a company in Singapore may form a Sole Proprietorship, a Limited Liability Partnership or a Private Limited Company. In Singapore, most companies are incorporated as Private Limited Companies.

Businesses that fall under this classification are registered with the Accounting & Corporate Regulatory Authority (ACRA).

Companies in Singapore are required to follow guidelines from the Companies Act. The Singapore Companies Act imposes different requirements for local and foreign entrepreneurs. Investors in the country may either be Foreign Individuals, Foreign Companies, Singapore Residents and Offshore Companies.

Before being incorporated in the country, companies have to meet requirements such as:

Directors must meet certain requirements before being appointed by a Private Limited Company. With this, Singapore company directors must also possess certain qualifications before they can be appointed by a Singapore Private Limited Company. The following are these added qualifications:

1. The business must have at least one shareholder, one resident director and one company secretary.

2. Minimum initial paid-up share capital of $1

3. Registered office address located in Singapore.

Directors must meet certain requirements before being appointed by a Private Limited Company. With this, Singapore company directors must also possess certain qualifications before they can be appointed by a Singapore Private Limited Company. The following are these added qualifications:

The country does not prohibit 100% foreign shareholding. In spite of this, Singaporean law requires companies to name at least one director that is a Singapore citizen, a permanent resident, an EntrePass holder, an Employment Pass holder or a Dependants’ Pass holder. The company’s director is also required to have a residential address in Singapore.

More Information:

Asiabizservices.com is the leading Singapore company that provides Singapore Company Incorporation services to both local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation, accounting and book keeping requirements, and other compliance matters stated under the Singapore law. AsiaBizServices has successfully helped thousands of foreign and local entrepreneurs form a Singapore company and secure their Singapore Employment Pass.

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