To start a new business or trading centre every entrepreneur need to register their Company name and need license to trade in the offshore beautiful magnificent country of Singapore.
There are few requirements to fulfil to register the name of your start up Company. Even to register a company in Singapore is an easy process, however If any flaws happen in producing the required documents there are ample chance of cancelling of registration.
Mentioning the requirements:
- The name of the Company suggested should be approved before the registering of the Company can be processed through Singapore registration officials. Thus finalise the name and forward it to be approved by State council.
- You will need a local address to be provided while registering your Company.
- You will need to appoint at least one local residing director holding Singapore citizenship papers. The director must be above 18 of age, free of debt and shouldn’t have any criminal record. It is not compulsory for a director to be shareholder of the start up Company. There is provision of you working as local director if you have Employment Pass or Entrepreneur Pass.
- A calibre person needs to be appointed as Company secretary within six months of the Company incorporation in the ever wonderful Singapore. The person needs to be a Singapore citizen.
- The minimum paid up capital should be S $ 1. The share capital can be increased after the start up of the business. The best beneficial feature is there no statement of rules that you need to follow the process of Authorised Capital before starting the business venture like in other countries.
Normally it will be beneficial to appoint a local professional Singapore to register a company in Singapore as the legal authorities don’t prefer foreigners applying directly for registration of their new venture of trading business firm.
To have legal advice to register a company in Singapore will help in hassle free way to complete the registration process in swift mode. There won’t be any need to apply for long term visa to stay in Singapore permanently isn’t necessary to do business there.