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

Incorporation And The Advantages It Brings

November 22, 2011 · Posted in Business · Comment 

Incorporation refers to a process that lawfully declares a business as a corporation. As a legal and at the same time separate entity, an incorporated business exercises the rights similar to that of an individual. In spite of some differences, it still enjoys more than a few advantages upon getting a state charter. The charter by the way, refers to the document issued by the authority in an incorporation process. This specifies the rights which the incorporated business in question can lawfully exercise. The articles of association on the other hand, refer to the document which describes the significant details in relation to the company like its operations, purpose, governance and regulation.

One business with more than 20 members under its roster must incorporate itself as a company according to the Singapore law. An exception to this rule applies to a partnership of persons whose professional practice is ruled by the Legal Profession Act.

Company registration, otherwise known as company formation comes with its fair share of benefits. Such benefits include limited liability. In contrast to sole proprietorship and partnership, restriction with respect to the amount of paid-up capital applies. Considerable tax savings likewise make it to the list of the advantages of company formation in Singapore.

Help in the form of comprehensive services for company registration offer businesses with a convenient way to ultimately enjoy the benefits of incorporation. They take the form of a service provider that delivers reliable as well as affordable assistance that require minimum effort from the customer’s end. The services provider will simply ask the client to provide significant information like the proposed company name, description of business activities, paid-up capital, registered office address, directors’ and shareholders’ names as well as their specifics, copy of their passport or ID and contact details.

All it takes is two working days at the longest. Following the company name reservation and registration process, an incorporated business may then take calculated risks without putting its owners, directors as well as shareholders on the line especially with regards to their financial liability. Those risks it will take can even bring more success to it.

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