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Understand the Jurisdictions Setup Requirement Before Proceed Your Register Company in Singapore
If there is one thing Singapore is well known for is its pro-business environment that keeps investors coming back for more. Despite the island’s small size, it has proven it is more than capable of attracting sizeable foreign investors and is now a country that is running smoothly on an economy that just keeps growing.
Why do investors choose to register a company in Singapore?
Because it only takes 1-2 days to set up and register a company in Singapore. For an investor looking to begin running a business right away, those are favourable numbers. Singapore is an easy place to register a company, especially with the flexible immigration policies it offers.
Singapore’s government has anticipated the needs of investors and made the appropriate provisions to make the business registration process a lot easier to deal with. The country’s relaxed immigration policy is also designed to work in the favour of foreign investors, making it easy to gain PR should the need arise.
Singapore is comfortably diverse with a good tax system in place and a safe environment for investors to conduct their business dealings. The country’s relaxed, stable lifestyle offers a good work life balance. The country is free from natural disasters and has a good, sound government ruling the country which are among the reasons businesses thrive so well here.
Singapore is a cutting-edge business community and has been rated number one in the world for the ease of doing business by the World Bank. This has boosted its desirability even more. For investors who want to register a company in Singapore, there is no better place to do it than in the country who has been rated the best in the world.
Singapore has also been rated number one in the world with the best labour force, and it is no wonder since the government is heavily invested in its people. The government has always been committed to bettering its people, especially through education to fully equip them to meet the demands of the challenging business world.
How to register a company in Singapore
Private limited companies are the most common and flexible choice for investors looking to register a company in Singapore. Registering a company in Singapore requires a minimum of one shareholder and one residential director.
A registered company in Singapore also requires one company secretary and a physical address in Singapore. The documentations required to register a company in Singapore include:
- Documentation of the company name
- Description of the business activities conducted
- The shareholding pattern of the company
- The shareholder agreement of the company
- Details of the shareholder and the director
- Where the registered address is located
- Particulars of the company secretary
- The memorandum and articles of association
- The company business profile
- The incorporation certificate
- The share certificate
- The first board resolution
- The bank account opening resolution.
Businesses registered in Singapore would also need to appoint an auditor within three months from the company formation. This is applicable to all companies unless the company happens to be exempted from audit requirements.
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