What You Need To Know About Company Formation In Singapore

July 19, 2012 · Posted in Legal 

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

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