Both local and foreign entrepreneurs and companies should be knowledgeable on all information needed before and after Singapore company registration. To have a fast business operation, knowledge about registration process is important. Singapore is one of the business capital countries in the world making them an attraction to all entrepreneurs. Here are some basic factors you should consider in registering a company in Singapore.
Company Name: The company name must be unique, desirable and must be approved by Accounting and Corporate Regulatory Authority (ACRA) of Singapore.
Shareholders: A one individual or corporate shareholding and a maximum of 50 shareholders are requirements for the registration. They accept not only foreigners but also resident and foreign combination shareholders. Remember that details of directors are made to publicly available.
Directors: Employment Pass holder with a registered address. A good and clean reputation is a requirement for a director and he or she should be 18 years of age.
Company Secretary: The appointed secretary should be a resident in Singapore within six months of incorporation.
Share Capital| Paid-Up capital: The minimum paid up capital for registration of a Singapore company is S$1 or it's equivalent in any currencies. One share of par value is the minimum issued capital They don't allow "bearer" shares or "no par value" shares. Increasing of share or paid up capital is allowed anytime after incorporation.
Registered address: The registered address must be a physical address and cannot be a P.O Box. Usage of residential address is permitted depending on the type of business.
Memorandum and Articles of Association: Memorandum and Articles of Association should be provided by ACRA. The Memorandum specifies the activities in which the company may involve while the Articles of Association states the rules carried out by company's internal management.
Consulting an authorized business registration firm in Singapore will provide you much more ideas and tips to make the whole registration process very fast. Entrepreneurs around the world are very much welcome in Singapore and they are willing to assist or help each one of them as much as they can.