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With Singapore's simple and convenient business policies, it is not surprising that it consistently land on top of the list of countries with friendliest business environment. Unlike in other countries, Singapore government support policies that make the procedures for company incorporation efficient and easy to accomplish.
Below are the primary steps you should take before you can actually do business in Singapore.
company formation in singapore requires the registration of a company name. The proposed name of the company is submitted to the office of Company Registrar. Once the office of Company Registrar approved the name, the registering company can start preparing forthe incorporation requirements. This step can also be accomplished in just one day or two as long as the required papers are complete and organized. All registering companies in Singapore get to enjoy prompt processing of their application because of efficient company formation procedures.
Next, you should know that company incorporation Singapore requires companies to hire locals to fill in different positions. There is a mandate that the registering company should hire at least one director and secretary, and both should be residing permanently in Singapore or natural born citizen. Another requirement is at least one share holder who may or may not be a local resident. Furthermore, company formation in Singapore isn't complete without a local business address. P.O. Boxes are not acceptable, too. There is no exception to this standard even if the owner of the registering company is a foreigner. The the company may seek the help of a business registration agency to find and register an office address suitable for the company's incorporation needs.
The steps needed for company formation Singapore are indeed very easy to accomplish. The presence of foreign company owners may not be necessary during the company registration. This is true when the company owner hires a registration firm to represent them. Securing additional business licenses is not also needed. Because of this simplified and convenient procedures, Singapore remains the number one country in the list of World Bank's friendliest economies.
Below are the primary steps you should take before you can actually do business in Singapore.
company formation in singapore requires the registration of a company name. The proposed name of the company is submitted to the office of Company Registrar. Once the office of Company Registrar approved the name, the registering company can start preparing forthe incorporation requirements. This step can also be accomplished in just one day or two as long as the required papers are complete and organized. All registering companies in Singapore get to enjoy prompt processing of their application because of efficient company formation procedures.
Next, you should know that company incorporation Singapore requires companies to hire locals to fill in different positions. There is a mandate that the registering company should hire at least one director and secretary, and both should be residing permanently in Singapore or natural born citizen. Another requirement is at least one share holder who may or may not be a local resident. Furthermore, company formation in Singapore isn't complete without a local business address. P.O. Boxes are not acceptable, too. There is no exception to this standard even if the owner of the registering company is a foreigner. The the company may seek the help of a business registration agency to find and register an office address suitable for the company's incorporation needs.
The steps needed for company formation Singapore are indeed very easy to accomplish. The presence of foreign company owners may not be necessary during the company registration. This is true when the company owner hires a registration firm to represent them. Securing additional business licenses is not also needed. Because of this simplified and convenient procedures, Singapore remains the number one country in the list of World Bank's friendliest economies.
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