Singapore is now among the sought after countries in the world of business. It has been recognised to accommodate a variety of industries including banking and finance, tourism, as well as ship building. Keeping in mind that this country was only blessed with extremely limited resources; it never gave up, instead, it forced itself to adapt to the current situation which led to the utilisation of its immense manpower.
Because of this, businessmen based in all parts of the globe could not reject the opportunity to either create a franchise, or make another business in the country. But the process is not as easy as it seems due to the need to follow the legal guidelines on Singapore company registration process.
In the process of company incorporation Singapore, there are important data that business owners ought to know which are fundamental to company formation in Singapore.
1. The company name is fundamental for the reason that it's the first information which needs to be approved before the incorporation can proceed.
2. The business directors can come from different nations. But, there ought to be one from within the country, called the resident director. He/ she must either be a Singapore Citizen, a Permanent Resident, someone who possesses an Entrepass, an Employment Pass, or a Dependent Pass. In addition, each director must be 18 years of age or more.
3. The category of shareholders varies according to the business classification. In Singapore, majority of the companies are classified under Private Limited Company. The minimum number of shareholders under this class is one and the maximum is 50; they can either be persons, trusts, or corporations.
4. Having a local address is vital to the registration process because an application will not progress unless a registered address is furnished.
5. A business secretary should be employed by the business within 6 months from the endorsement of the incorporation. He/ she should not be a shareholder, but should be a local citizen of the country.
Because of this, businessmen based in all parts of the globe could not reject the opportunity to either create a franchise, or make another business in the country. But the process is not as easy as it seems due to the need to follow the legal guidelines on Singapore company registration process.
In the process of company incorporation Singapore, there are important data that business owners ought to know which are fundamental to company formation in Singapore.
1. The company name is fundamental for the reason that it's the first information which needs to be approved before the incorporation can proceed.
2. The business directors can come from different nations. But, there ought to be one from within the country, called the resident director. He/ she must either be a Singapore Citizen, a Permanent Resident, someone who possesses an Entrepass, an Employment Pass, or a Dependent Pass. In addition, each director must be 18 years of age or more.
3. The category of shareholders varies according to the business classification. In Singapore, majority of the companies are classified under Private Limited Company. The minimum number of shareholders under this class is one and the maximum is 50; they can either be persons, trusts, or corporations.
4. Having a local address is vital to the registration process because an application will not progress unless a registered address is furnished.
5. A business secretary should be employed by the business within 6 months from the endorsement of the incorporation. He/ she should not be a shareholder, but should be a local citizen of the country.
No comments:
Post a Comment