It is important that entrepreneurs who are planning to register a company in Singapore are knowledgeable enough on what things are much needed for the registration. A knowledge in basic requirements will make a big impact in making the process very fast to operate the business as soon as possible. Singapore is one of the business capital countries in the world making them an attraction to all entrepreneurs. Because of this reputation, we would like to present to you some basic considerations that will help you register a Singapore company.
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. Shareholders can either be 100% foreigner or a combination of resident and foreign shareholders. The details of directors are always ready for the public.
Directors: It is required to have at least a minimum of one director who should be a resident of Singapore which means a Singapore citizen, Singapore permanent resident or Entry Pass|Employment Pass holder with a registered address.|It is also a requirement that one of the directors is a permanent resident pass holder in Singapore.|One of the directors should be a Singapore permanent pass holder.} A person with a good reputation and is 18 years old is also a must for the choice of director.
Company Secretary: The appointed secretary should be a resident in Singapore within six months of incorporation.
Share Capital| Paid-Up capital: S$1 is the minimum paid up capital upon registration. The minimum issued capital is one share of par value "Bearer" shares or "NO par value" is not permitted. Government of Singapore allows increase of paid up capital anytime right after incorporation of company.
Registered address: The registered address must be a physical address and cannot be a P.O Box. Use of residential address is allowed for certain 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.
Now that this basic information is hand and still you wish to have additional information and further assistance, please do not hesitate to consult an authorized business registration firm in Singapore. Singaporean government allows and welcomes entrepreneurs who are very much interested in investing in their country.