What You Need To Know About Company Formation In Singapore

July 19, 2012 · Posted in Legal · Comment 

Protection, stability and prestige – these are some of the benefits that a company enjoys after being incorporated. So if you are venturing out in Singapore, consider registering your business as an incorporated company. Incorporated and private limited companies enjoy lower tax rates and more respect from the public. Understanding this process as part of company formation in Singapore is therefore important to many business owners in the city state.

Why Company Incorporation Is Great For Your Business

There are different advantages that company incorporation brings. For instance, an incorporated company won’t have to pay taxes for its first $100,000 earnings during its first three years. Apart from it, your business becomes a separate legal entity that is responsible for its own assets and liabilities. Your own liabilities for the company will be limited to your shares. Therefore, your personal assets are protected, which is very beneficial if you have debts.

Moreover, all business owners know that the public perceives an incorporated company with more stability than sole proprietorship or partnerships. Having the term Inc. in your company name, you can attract more investors. That’s because they see that you plan for the future of your company. Being incorporated means longevity.

Who Can Help You Form Your Company?

You do not have to fret or feel discouraged by the legal requirements for company formation in Singapore. You can actually seek the help of company incorporation Singapore specialists or legal service providers. These firms also lend their strengths in internal audit, auditing, accounting, liquidation, tax compliance and planning, and other legal procedures. They will assist you throughout the process of company registration.

Aside from helping you with the entire registration process, they can also accomplish your requirements for you. You only have to coordinate with them and give them your company name, information about your shareholders, directors and company secretary, a clear description of the nature of your business and a registered address. With the assistance of legal service providers, you can finish the process of company registration in Singapore within one or two days.

Related articles on company formation in singapore or visit www.richmondcorporateadvisory.com

Singapore Company Registration: What Many Business Owners Should Know

July 19, 2012 · Posted in Business · Comment 

Singapore is among the most sought after nations in the business world. It has been recognised to accommodate numerous industries which includes ship building, banking and finance, and tourism. Considering that it has very inadequate natural resources; the nation has proved its ability to adapt and become flexible by seeking for other probable ways to flourish, and that is through the utilisation of its rich manpower.

Because of this, businessmen based in all parts of the world couldn’t reject the chance to either create a franchise, or produce another business in the country. But the process is not as easy as it seems due to the need to follow the legal guidelines on Singapore company registration process.

The process of company incorporation Singapore is composed of many facts that are required for businessmen to understand for the reason that it’s imperative to company formation in Singapore.

1. The business name is essential because it’ll be the basis for approval; hence it can directly affect the incorporation process.

2. The board of directors ought to be composed of a local director which means that he/ she holds one of the following status in the country: Citizen, Permanent Resident, or individuals with Entrepass, Dependent or Employment Pass. Aside from the aforementioned, all the other directors can come from other nations if they are 18 years old and above.

3. The shareholders of a business are dependent on the type of registration that the company is opting to apply for. In Singapore, the common enrollment undertaken by company entities is under the Private Limited Company classification. In accordance to this classification, a company must have at least one shareholder; while the maximum is 50. The shareholders can either be corporations, individuals, or trusts.

4. Having a local address is fundamental to the registration process because an application will not progress unless a registered address is provided.

5. A secretary ought to be employed by a company within 6 months from the time of approval. He/ she must be a local resident and should not be a shareholder of the company.

Related articles on company formation or visit www.richmondcorporateadvisory.com.

Company Formation In Singapore: See Your Business Grow Fast

July 19, 2012 · Posted in Business · Comment 

According to Transparency International, Singapore, together with Denmark and New Zealand, is regarded as among the least corrupt countries in the world. That is why many businesses thrive in the city state. Aside from that, entrepreneurs find it easy to go through the process of company formation in Singapore. Also, the country has enterprise-friendly policies, a stable government, a firm economic and sociopolitical environment, and is one of the fastest rising economies in Asia.

Understanding The Company Formation Process

When going through the process of company formation in Singapore, entrepreneurs find it best to hire a company incorporation Singapore firm. These firms specialise in company registration, corporate secretarial services, accounting, bookkeeping, taxation and other services that are related to the legal and financial aspect of company formation. With their services, even those who are new to business will never have to be baffled about the procedures of company formation.

Company registration Singapore agents help entrepreneurs form their company from the start. It means providing support in terms of the following: information furnishing, document preparation or ACRA certification. These firms typically offer packages that cover the expenses involved in the formation process, including secretarial fees, certificates and business name application. These services are available to both Singaporean residents and foreigners in the country.

Why You Should Start A Company In Singapore

Forming a company in Singapore brings instant credentials to your enterprise as the country is known for its good reputation and well structured economy. Your business will be recognised by the international market, and you will have access to world class infrastructure that can support the needs of your business. In these regard, you can witness your company growing at a very desirable pace.

It is also worth noting that the country’s financial institutions are strong. The local authority is always cooperative and ready to assist you regardless of the size of the business you have. Also, the transaction systems in the country are swift. It means that both start-up and established businesses have equal opportunities. Therefore, company formation in Singapore is certainly the first step to success.

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How Important Is Company Incorporation For Businesses?

June 5, 2012 · Posted in Business · Comment 

An auditing company-an enterprise that offers corporate secretarial, payroll, accounting, tax, and incorporation services-can help you meet this need. Delegating the task of company incorporation in Singapore to these agencies can let you focus on running your business. These firms understand that in order to manage your business smoothly, you must be free from any burden. Furthermore, company incorporation is a legal procedure that can be intimidating for new business owners. Auditing companies understand these truths very well.

Upon incorporation, you business becomes a separate legal organisation that has its own accountabilities. Your responsibilities become limited to your shares in the business. This indicates that your personal assets are untouchable to your creditors. They can only have claims on the properties of the company, but not the personal assets of its shareholders, executives, directors, and owners.

Another advantage of incorporating your company is that you can significantly increase your profit by reducing your personal tax. This is done by reducing the salaries of the officers. They will get their earnings from dividends which are taxed at a considerably lower rates. Also, expenses for travel, medicine and leisure become tax deductible upon incorporation.

Increasing your capital through loans is easier for incorporated companies. This is because most financial companies recognise incorporated companies as financially and structurally established. The term “Inc” alone that is included in the name of incorporated companies already implies prestige.

Aside from audit firms, law firms that offer incorporation services are the most capable organisations to consult with if you want to incorporate your company in Singapore. Set an appointment with them and learn more about its proper procedures. If you want to succeed conducting business in the country, company incorporation is one of the best options you should seriously think about.

Related articles on accounting firms in singapore or visit www.onesourceaccounting.com.sg