Company Registration in Singapore
Singapore is currently the ultimate country to set up a company for expansion of global business. Because of its strong trade and investment policies, it’s one of the world’s easiest places to do business. For the owners of the company, Company registration is mandatory. Company registration in Singapore is extremely easy and cheap.
As per the law in Singapore, Foreigners or foreign corporate entities are not allowed to self-register a Singapore company. You must hire a competent professional firm for your Company registration in Singapore.
Benefits of incorporating a company in Singapore
Some are the factors which make Singapore the favourite destination in the world for business owners are mentioned below.
- A powerful economy with well-developed capital markets and financial systems.
- A rational tax system with low tax rates,
- An efficient process for incorporating and running a new company.
- Strategic geographical location and excellent infrastructure.
- Well-trained and productive workforce,
- No restrictions on repatriation of profits or import of capital,
- Stable political and economic climate with strong adherence to the laws, regulations and minimum corruption.
- Excellent quality of life.
- Filing the application form – The next step involves filing the ASIC Application Form 201(Application for Registration as an Australian Company) in all respects. The form once duly filled has to be submitted to the Australian Securities and Investments Commission (ASIC) for the registration of the company.
- Each director and shareholder of the company must give their consent in writing to become the director and shareholder of the company.
- It is mandatory to have one director and one company secretary (If appointed) as Australian citizens.
- Depending upon the business and location of the company, the company must comply with the respective taxation requirements.
- A certificate of incorporation is issued by ASIC upon incorporation, which is an evidence that the company has been incorporated on and from the date of issuing the certificate.
How to register a company in Singapore?
The process of registering a company in Singapore is completely online and involves the following steps.
Step 1: Approval Of Company Name
The Singapore Government must necessarily approve the company name that you choose before you can register it.
Choose a name i.e. Unique, simple, easy to pronounce and does not have any spelling mistakes.
Step 2: Registration Of The Company
After the Registrar of Companies approves your company name, the process of incorporation is started.
We ensure that all documents are complete as per the law. All the directors and shareholders of the company must sign the form. A government fee of S$300 has to be paid upfront to the registrar of companies for their services.
Documents required for registering a company in Singapore
For registering your company in Singapore, we will require the following documents from your end.
- Company Name
- Brief Description of Business Activities
- Shareholders Particulars
- Directors Particulars
- Registered Address
- Company Secretary Particulars
- Memorandum of Association(MOA)
- Articles of Association (AOA).
On-Residents (Foreigners) – Copy of passport, overseas residential address proof, and other KYC details such as a bank reference letter, business profile, etc.
Singapore Residents – Copy of Singapore identity card.