How Do I Register a Singapore Company?
In addition, most foreigners find it easy to start a business in Singapore as we have a very pro-business environment. You just need to be aware of additional regulations and permits that apply to non-Singapore Citizens.
The requirements for formation of a company or business in Singapore for individual entrepreneurs or corporations are specified below:
* Get company name approval
* Prepare registration documents
* Client to sign company registration documents
* Register company
* Open bank account
Your company incorporation agent will prepare and submit all the necessary documentation for registering your Singapore company so you don’t have to worry. Just for your reference, to register a Singapore company, the following information needs to be submitted to the registrar of companies (ACRA):
* Memorandum and Articles of Association
* Statutory Declaration of Compliance
* Particulars of Shareholders, Directors, Secretaries, etc.
* Certificate of Identity
* Situation of Registered Office/Office Hrs at Time of Registration
* Consent to Act as Director and Statement of Non-disqualification to Act as Director
* A Consent to Act as Secretary
The time taken for company registration depends on two factors: a) the company name approval and b) whether you will be signing the documents in Singapore or overseas.
The company name approval takes only 2-3 hours unless there is some conflict with an existing name or the name has some sensitive words in it. Once the company name is approved and the signed documents are ready, the Singapore company can normally be registered in 1 day.
If you are signing the company registration documents overseas, you will need to factor in the time it takes to courier the documents back to Singapore.
After the company registration, the bank accounts opening can take from 2-3 days to 1-2 weeks depending on a) the bank you choose; and b) whether you are in Singapore to sign the account opening documents; and c) the level of due diligence conducted by the bank.
If you are a foreign entrepreneur and need to relocate to Singapore to run your company, you will need to apply for EntrePass or Employment Pass.
Author Box:
Rikvin has been assisting clients from all over the globe in their Singapore immigration and company incorporation matters. We assist local and foreign entrepreneurs to register a Singapore company. Our success rate is phenomenal, and all most all of our enterprise clients have entrusted us, with the routine management tasks such as book keeping and secretarial services and we continue to impress them beyond our promise. Rikvin has successfully helped foreign entrepreneurs with Singapore company setup.
Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions. If you are interested in learning more about Rikvin’s Services kindly email us at info@rikvin.com or give us a call at +65 64838887.Fax : (65) 6438 2436
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