Two types of businesses can be registered in Singapore. The first and the easier to register is the sole proprietorship, which, as the name indicates, is owned by only one person. The other type is the private limited company which must have less than 50 shareholders, and which needs to fulfill several Singapore company registration requirements.

Singapore company registration, both for single proprietorship or for private limited companies, requires a business name to be registered and the application of incorporation. The paid-up capital for both types of business is the same—S$1. This is what most green horns in establishing a business appreciates in Singapore’s pro-business environment.

Singapore company registration is filed with the ACRA, or the Accounting and Corporate Regulatory Office of Singapore. ACRA plays the role of the regulator of all the businesses and of the accountancy profession in the country.

For private limited companies, Singapore company registration has the following requirements:

1. Business name and application of incorporation. The business name should not be an existing and already registered name, should not contain any vulgar expression, and should not be restricted by the Minister for use by the public.

2. The company has to have at least one shareholder and one director, who can be the same persons, although most financial institutions require two signatories so it is best to elect a separate shareholder and director among all shareholders which can be up to 50.

3. One of the directors must be at least 18 years old, a Singapore citizen or permanent resident, an Employment pass, Approval-in-Principal Employment pass, or a dependant pass holder.

4. A physical business address must be provided. A P.O. Box is not accepted.

5. The private limited company has to have a dedicated and competent secretary within 6 months of the registration. He or she is supposed to be knowledgeable of the administrative requirements of the business.

As with any application, Singapore company registration can be simplified, seamless, and stress-free if all the requirements are in order. Service providers facilitate this in sure-fire ways. This will then assure business owners of a timely processing at agreed-upon service fee, something that is important especially for those who have a conservative beginning capital and who desire to start operating as a legal business entity the soonest time.

Singapore clinched the fourth spot in the recently released report on the Global Financial Index, which still maintains London, New York, and Hong Kong on the top three posts. Tokyo has the fifth spot. Interestingly, both Singapore and Hong Kong do not come far off London and New York in the long-held top two positions as the world’s biggest financial centres.

No wonder, many businesses are keen on launching their headquarters in Singapore. This is especially because company registration Singapore offers is in an environment that is not averse to innovation or risk-taking. Instead, the Singapore government’s corporate regulatory body, the ACRA, plays a facilitative and not a forbidding role for businesses seeking to be established in this Asian power economy.

Company registration Singapore requirements are streamlined. A sole proprietorship or private limited company only needs to register a business name and apply for incorporation for a minimal fee. If all documents are submitted in order, the two processes can be accomplished in less than one hour. Moreover, businesses need only a paid-up capital of S$1 to be registered.

Corporate secretarial firms which are experts in fulfilling company registration Singapore requirements also help with the speedy filing of application, even for businesses which have peculiar requirements usually involving the approval by another government agency apart from ACRA. These firms have the experience necessary for a speedy filing, especially for highly competitive and new business ventures which promises great returns for the innovators.

One such business to give careful consideration to is the water business. Currently, Singapore is dependent on reclaimed water for 30% of its requirement. To supply the rest of the requirement, the government imports water from Malaysia. The Singapore government seeks to be self reliant when it comes to its water requirements and is embracing all innovations leading to its proposition to become a hyrdohub by 2015. This need provides a steady platform to launch businesses in the water treatment and reclamation industry.

Singapore provides a very encouraging environment for the establishment of businesses. Whether you are planning to establish a sole proprietorship or a private limited company, you can get help from an experienced service provider to register your business speedily.

To accomplish this, you must comply with requirements from the Accounting and Corporate Regulatory Authority (ACRA) Singapore, which is the government body responsible for regulating businesses and accountants in this country.

To obtain a speedy company registration ACRA approval, make sure you have verified the business name you are to register as (1) not existing, (2) not containing vulgarity, and (3) not restricted by the Minister for use; and that you have the complete documents required for the application of incorporation. With all these two requirements uncontested, the ACRA website states that business registration and incorporation can be accomplished in less than an hour.

It is easier to fulfill company registration ACRA requirements for a sole proprietorship, but in the case of a private limited company, several requirements are in place. First, the company has to have at least one shareholder and one director, who can be the same person. Second, one of the directors must be at least 18 years old, a Singapore citizen or permanent resident, an Employment pass, Approval-in-Principal Employment pass, or a dependent pass holder.

Third, the private limited company has to have a registered business address which is not a P.O. Box. Special licenses must be secured if the business address is at the owner’s HDB flat or at his house. Fourth, the private limited company has to have a secretary in post for at least 6 months. Finally, it should have a paid up capital of just $1. This is what most entrepreneurs find most encouraging.

Corporate secretarial firms that offer business registration services can help further streamline this process, especially in cases where an approval needs to be secured from another Singapore government agency either when registering a business name or when declaring a physical business address at one’s HDB flat or private home. Firms have the experience in filling out proper documents and in filing them at appropriate offices so that you can have your company registration ACRA approval in time for when you desire to launch the business.

Singapore is a host country to many single proprietorship and private limited companies. Owing to Singapore government’s cultivation of a pro-business environment, start-up businesses owned by first-time entrepreneurs do not face the daunting task of complying with the Singapore Accounting and Corporate Regulatory Authority, or ACRA company registration requirements.

ACRA is the national regulator of businesses and the accountancy profession in Singapore. Fulfilling ACRA company registration requirements is the first step to establishing your own business in this country of limitless opportunities. There are primarily two (2) requirements to be fulfilled: the first is to register a business name that does not conflict with an already existing business name according to ACRA’s BizFile, and the second is to apply for incorporation.

In choosing a business name, companies should also check if the name chosen requires to be referred to the right government agency in Singapore. For example, a company registering a school is referred to the Ministry of Education. A company opening a chiropractic clinic is referred to the Ministry of Health. Also there are business names that the Minister has already reserved and instructed ACRA to not accept for registration.

While trying to appeal to a mass number of potential customers, using vulgarity or obscene expression in the business name is definitely not acceptable. It is recommended to think of a business name that instantly and clearly speaks of the nature of the business being set up. While not a clear-cut ACRA company registration standard, it will definitely help the business develop and succeed with effective brand marketing.

As many as there are companies currently registered in Singapore, a green horn entrepreneur may feel overwhelmed about where to start. ACRA company registration requirements are streamlined. But if one is wondering where to get further help, then corporate secretarial and business registration companies can provide expert assistance.

More and more entrepreneurs prefer to not only transact their business in Singapore, but to form their company there as well. This is because this Southeast Asian nation has ranked yet another year at the top of World Bank’s “Doing Business” 2010 survey which proves that it is an ideal place for business.

There are many reasons why the country has been named as the easiest place to do business for four straight years. Its seaport, one of the busiest in the world, provides a very attractive location for businesses. Companies incorporated in the country is also exempted from taxation of profits earned outside, making it very appealing for many businesses.

Singapore company formation is uncomplicated and very straightforward, making it very easy for people who want to open their business here. The country welcomes commerce and offers equal opportunity for both residents and foreigners.

In fact, the process of Singapore company formation can be accomplished in one or two days in most cases. Keep in mind, though, that if you are living outside of the country, logistics can delay the process.

Another advantage of forming a company in the country is that The Singapore Companies Act doesn’t implement restrictions on foreign nationals who wish to do business in the country. It allows 100 percent foreign ownership of a private limited company.

There are only few distinctions in the process of Singapore company formation for foreigners and residents. Local residents are only advised to use the services of a professional services firm, but foreigners are required to hire one. And while full foreign ownership is allowed, every company, including by both foreigners and locals, is required to have at least one local director.

Even if not required, foreigners can also relocate to the country to operate their business. They can apply for an Employment Pass, work permit for those who have good educational qualifications; or Entrepreneur Pass, or work permit for entrepreneurs who lack the required educational attainment.

Many businessmen find Singapore company formation very straightforward and easy. The country may implement strict guidelines to maintain order and legitimacy of all business operations, but it also offers equal opportunities for all.

Incorporating in Singapore has many advantages and benefits for local or even foreign entrepreneurs. The Southeast Asian nation is a huge player in the trading industry, and is named the easiest place to do business for four consecutive years. It also ranks highly in terms of government, political, and economical stability.

For one thing, Singapore has a very positive attitude towards entrepreneurship. It offers an attractive taxation system and it encourages entrepreneurship by giving newly incorporated companies full tax exemption on the first three years for profit of S$100,000 and below. There is also no tax imposed on capital gains and dividends, as well as all profits sourced outside of the country.

In addition to that, incorporating in Singapore requires a minimum paid-up capital of only S$1, and allows a hundred percent foreign ownership.

Incorporating in Singapore also requires only one director and one shareholder, and it usually takes one to two days only if there are no objections as to the company’s proposed names and other discrepancies.

Singapore’s process of registering a company may be simple and fast, but the country is also known to strictly implement guidelines and rules and protect intellectual property rights of companies. This gives assurance to entrepreneurs that their business will be justly protected.

Singapore’s location is a big plus for entrepreneurs who want to expand their exportation trade as well. It is connected to regional markets in Asia and Australia, and it is home to the largest transshipment seaport.

A company incorporated in Singapore is treated as a separate entity. It can enter into a contract under its name, and be named in a lawsuit instead of its shareholders. If it is registered as a limited liability company, any personal assets of its shareholders will not be included in the liquidation in case the company unfortunately goes bankrupt.

Another benefit of incorporating in Singapore is that it offers diversity in cultures, which is considered as a business advantage. Cultural diversity means access of multitude of talented and skilled workforce. In fact, its workforce has been named as one of the best skilled and most motivated in Asia.

Incorporating a company in Singapore is fairly easy. The country has been named the easiest place to do business by the World Bank for four consecutive years. That should be an indication that it is a preferred location for those who wish to start a business. But while incorporating a company in Singapore is a straightforward process, there are certain guidelines one must diligently follow.

A person who wants to incorporate his company should obtain approval for the company’s name first. All business names must conform to guidelines laid down by the country’s Accounting and Corporate Regulatory Authority. The proposed name should not be undesirable, identical or nearly resemble another company name, undesirable, or have names or trademark similar to established names.

It usually takes a week for the proposed name to get approved if it does not present any of the mentioned problems.

If you are incorporating a company in Singapore, you need to decide which legal form it belongs to. Almost all of the companies in the country are incorporated as limited liability because of its advantages over the other forms.

Singapore Companies Act requires a minimum of one corporate or individual shareholder and a maximum of fifty for a Private Limited Company. A company must also have at least one director who must be a Singapore citizen, a permanent resident, or one who holds an Employment Pass or EntrePass.

Those who wish to incorporate a company also need to appoint a company secretary within six months of incorporation.

The minimum paid-up capital required for incorporating a company in Singapore is S$1. Keep in mind that authorized capital no longer applies in this situation. The company should also have a local registered address. A P.O. box address is not permitted.

Necessary documents should be prepared and submitted to the Accounting and Corporate Regulatory Authority or ACRA. Those papers include:

• Memorandum and Articles of Association
• Statutory Declaration of Compliance
• details of the company’s shareholders, secretaries, directors, etc.
• Certificate of Identity
• Notice of Situation of Registered Office and Office Hours at time of Incorporation
• Consent to Act as Secretary
• and Consent to Act as Director and Statement of Non Disqualification to Act as Director

Singapore offers many benefits for those who want to incorporate their company in the country. Not only is it practically simple to register, it also provides an equal opportunity for everyone. One must just follow the guidelines and rules set up by the government.

Incorporating a business in Singapore is made easy for everyone, even for foreigners. The Southeast Asian nation not only has a very good strategic location, it is also one of the fastest growing economies in the world. Unlike the conditions in most countries, incorporating a business in Singapore can be done by non-residents as Singapore allows a hundred percent foreign shareholding.

Relocation is not mandatory for foreigners who wish to incorporate a business in the country. They just need to manage their business in Singapore from overseas. According to the Singapore Companies Act, they must appoint a resident director in the country. A resident director can be a citizen, permanent resident, or holder of an EntrePass.

But for those who wish to live in Singapore, they must apply for a work pass. There are two types of work pass that are suitable for foreigners who are incorporating a business in Singapore.

The first is the Employment Pass, which is best for foreign entrepreneurs, professionals, shareholders, and managing directors who possess a degree or professional qualification. This is considered the preferred choice for most foreigners.

The other type is the Entrepreneur Pass or also known as EntrePass. This is suitable for those who lack the qualifying educational attainment or do not qualify for an Employment Pass but has proven track record of successful business ventures. EntrePass also requires a minimum paid-up capital of S$50,000.

While Singapore is listed as the easiest place to transact business in the world, keep in mind, though, that foreigner individuals or entities are not allowed to self-register a company. Their only option is to engage the services of a professional services firm to handle their business incorporation and statutory administration. All the other steps are the same as those required to take by local residents.

World Bank’s annual “Doing Business” 2010 report has listed Singapore as the easiest place to do business for four consecutive times already. It just shows that incorporating a business in Singapore is an opportunity equally granted to everyone, whether you are a local resident or a foreigner who wants to try his luck in the country.

Company registration in Singapore is considered one of the fastest and most straightforward processes in the world. The strict implementation of the rules and guidelines is for the benefit of both the government and the businesses to maintain the legitimacy of the business industry.

There are a few steps in the company registration process. The first is to get approval for your company’s name from the Accounting and Corporate Regulatory Authority (ACRA).

Your chosen company name will be rejected it if is:
• undesirable
• identical to another existing company name
• or has name or trademark similar to established names

The name can be approved in two to three hours unless it requires further review from external authorities or the ACRA finds any objects to the proposed name.

After the name approval, you can now prepare registration documents and register the company. Assuming the documents have been completed and signed by its directors and shareholders, the company can be registered within the same day from ACRA.

You would need one resident director and one shareholder for your company. A resident director is defined as a citizen or permanent resident of Singapore, or someone who has an EntrePass, Employment Pass or Dependent Pass. The director and shareholder can be the same person.

A company must appoint a secretary within six months of its incorporation. The secretary must have a principal place of residence in Singapore.

The minimum paid-up capital requirement for company registration is only $1. You can open bank accounts two to three days to one to two weeks after the company registration.

Local residents are strongly advised to use the services of a professional services firm to help you understand the whole process and rules. However, if you are a foreign national, you are required to use the services of a professional services company to act on your behalf.

Company registration is usually completed within one to two days, unless there are objections to the proposed name or if additional information about the directors and shareholders is needed.

Singapore is known as an ideal destination and location for businesses trying to get a niche in their respective markets. Furthermore, the country has a proven track record for economic stability, healthy competition, and world class economy. All these can be found in one of the most modern countries of the world, which is right in the Asian region.

Singapore Company Incorporation Policies That Are Friendly To Business Firms

The Singapore government offers investors one of the lowest corporate tax rates in the entire world. In addition to this, Singapore adopts a pro-business when it comes to mandates and laws passed in the land. Through this attitude, the country experienced an 8% growth in its GDP. Also, because of this, business people are more willing to establish their firms in the country.

As one incentive for business people, Singapore does not levy taxes on capital gains. Its consumption-based tax, which is known as the Goods and Services Tax or GST, is currently pegged at 7%; it is one of the lowest rates in Asia.

Company Incorporation Singapore: Benefits For Businesses And Individuals

If an investor is interested in putting up a business in Singapore, the duration of the processing time of the company incorporation in the country is very short. It only takes one to two couple days, and then one’s business. The government does not discriminate against foreign or local investors; all are treated with equal respect.

Intellectual Property Rights Protection In Singapore

Moreover, considering that the Singapore government encourages and promotes the development of innovations and creativity, there are laws in the country that protect the intellectual property rights of artists and inventors. Copyrights can be obtained in Singapore for those who wish to protect their rights to works that have tangible forms.

Singapore Supports And Welcomes Company Incorporation

While in Singapore, there will be no problem for you to search for personnel who will help you run your business. Singapore citizens are highly educated – with a strong background in Math and Science – and are greatly qualified in various professional fields.