Saturday, 24 January 2015

How do you start a company in Singapore

Singapore is one of the best places to start a business. Ranked top for a few years for the ease of starting up and doing business, Singapore is blessed with a strong government that is able to deliver high quality services to their people and also making sure that the red tape to get anything done is quickly cleared up so that business can be carried out in a very fast and efficient way.

Setting up a company through a singapore incorporation services firm, can be done within a day. Most people can fly in within the day, open up the company, open a bank account and fly back to their home country within the day. That's the efficiency of the system being in place and making sure that things are done with the fastest speeds. This would also mean that you can be start business and start operating within the span of a few hours.

There are a few things to watch out for when you want to incorporate a company in Singapore. Before you start, you will need to inform the company of the name of the company that you will be using. This would help them to reserve the name that you require this would also allow them to advise you of any changes if necessary. This would allow them to speed up the process of incorporation the company without any delay.

You will also have to decide who is the director of the company. There is a requirement that one of the directors MUST be a Singapore and the rest can be foreigners. Some companies do provide nominee directors and this would allow you to pay for a local director to fulfill the requirements.

You will also need to provide the details of your shareholders and the shareholding of the company. This would be advised by the company doing the incorporation on what needs to be taken care of and you should also be able to find out more about how shareholders have the power to make certain decisions and call for annual general meetings.

You will also have to advise on the business activity that you will be taking part in so that the company can find out what are the things to watch out for, for example the requirements of licenses and also where to go ahead and apply licenses and also maybe there are restrictions on employment and requiring special arrangements to go on.

Incorporating and starting a business is something that is very different and something exciting. You should find out more before you go ahead and make that leap.


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