Singapore Company Formation: What You Should Know

By: daniel yio | Posted: 25th October 2010

To establish a company in Singapore, the employer must meet certain strict compliance issues and procedures that are used in the Singapore Companies Act raised.

Meanwhile, the main provisions of which must be complied with legal persons and entrepreneurs who want to Singaporean company:

* Write the name of the company. Before the company, the employer must first register your company name on the accounts and business regulatory Authority (ACRA). It is important that the company's name is not the same, no need to pre-existing business against the application for other organizations, and should not be offensive or vulgar will be done by the authorities.

* Shareholders. Number of shareholders in Singapore can vary from a maximum of 50 persons or legal entities. However, the company has more than 50 shareholders, if the "public" companies, ie their actions are open to the public to invest in the stock market.

* Resident Directors. The law stipulated that the company may be at least one director of Singapore citizen or resident alien individual was issued EntrePass, employment pass, the PR status, or spend-dependent and has resided in this country had.

However, there is no limit on the number of other directors (regardless of nationality), if not "complete bankruptcy," were convicted of negligence and other serious crimes, and at least 18 years.

* Company Secretary. Within six months of its establishment, the company must have a secretary, the local population needs, and to appoint some of the requirements for the position, "he said.

* Paid capital. If the company has heard from "a natural citizen or a foreigner, the Employment Pass, the minimum paid-up capital of S $ 1, or the equivalent in another currency. However, foreigners are EntrePass visa at least S $ 50,000 for its paid-up capital.

* Memorandum and Articles of Association. These documents will be submitted to ACRA, type the company and the policies and rules for its internal management.

* Address (no PO Box). may be a house or commercial domicile is the place where he held a legitimate demands. If the address is a residential area, it is important to permit the Housing and Development Board or the Urban Development Authority.

AsiaBizServices is a Singapore company registrar and has successfully help foreign and local entrepreneurs register a Singapore company.
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Tags: stock market, foreigner, serious crimes, legal entities, foreigners, compliance issues, regulatory authority, company secretary, memorandum and articles, articles of association, company in singapore, singapore companies