Company incorporation Singapore and main statements
Any Singapore corporation is subject to the registration process, which is clearly supported by the applicable laws of Singapore. So, more and more interested entrepreneurs are turning to company registration services. A new private limited liability company must have:
- at least one shareholder;
- a minimum of one director permanently;
In addition, the owner of the resulting entity is required to provide its registered office and pay a capital payment of $1. For company registration in Singapore for foreigners, the owner must provide a copy of the passport, proof of residence, and a letter of recommendation for non-resident directors and shareholders issued by a banking institution. Non-resident shareholders and directors are required to give a copy of their Singapore Identity Card and a copy of their foreign passport.
Requirements for establishing a company
Individual company set up process consists of several steps that are mandatory for any candidate:
- Learning the rules of business registration in Singapore.
- Finding out the corporate peculiarities of the future organization and collecting the necessary documents.
- Approving the name of the company.
- Finalizing the incorporation documents.
- Registration and opening a bank account.
Every manager is interested in ensuring that the stages of registration of a business take as little time as possible. If the legal requirements are met, and the company owner clearly understands the company’s activities, all possible delays can be minimized.