Singapore-Entrepreneurs

Whats and Hows of Singapore Business Incorporation

Though Merlion and Night Safari are most known tourist attractions in Singapore but in today’s date Singapore’s business infrastructure is attracting host of investors from world over. Singapore has easy business incorporation rules. But for the new aspirants it is essential to know the various regulations for Singapore company incorporation.

The Fist and the foremost thing is to know the SCA. All the companies in this island nation are governed by the rules mentioned in the Singapore Companies Act. At times there might be different statutes applicable for different sectors of business. According to the SCA for Singapore business formation the company requires 1 director, at least 1 shareholder and 1 secretary.

The shareholder and the director must be a permanent resident of Singapore and should be above the age of 18. The shareholders for the company may be individuals or corporate entities. 100% local or foreign shareholding is not allowed by the government. Your application may also be withheld if the director has any prior record of bankruptcy or malpractices of any sort. In case of the secretary the SCA allows the company a timeframe of six months within which the company has to find a secretary.

For Singapore business incorporation the company must have a minimum initial paid up share of S$1. This amount goes up in case you are an EntrePass holder. In such a situation you need a capital of S$50,000. If you are applying for Singapore company formation make sure that you have a registered office address. This should be a Singapore address. It is also worth mentioning that a PO box address is not accepted.

Though the process of Singapore business incorporation is very simple but in order to save time more and more business owners are taking the help of Singapore company formation services.

Tags: Singapore business formation, Singapore business start-up, Singapore company incorporation