AsiaBiz Talks About Singapore Company Registration

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 22, 2010 -- AsiaBiz Services, the leading business registration firm in Singapore, said that incorporating a company usually takes a few days in the country in an effort to encourage foreign and local businessmen and investors.

“Compared to most countries where it can take several weeks or even months to incorporate a company, entrepreneurs in Singapore enjoy convenient and faster registration process because of the lack of red-taping,” the firm said.

Aside from the fast registration process, AsiaBiz said the lenient requirements during the incorporation are also benefitting businessmen.

“For example, a Singapore company may be owned by one person or corporate entity, unlike in other countries which requires at least five or 10 shareholders. In addition, a Singapore company may have one director and can even start with a paid-up capital of as low as S$1,” the firm added.

Meanwhile, AsiaBiz said that hiring a professional firm is usually advisable to most entrepreneurs to make sure that they adhere to all the company registration requirements.

To help businessmen who want to incorporate a Singapore company, AsiaBiz has released a step-by-step guide:
• Submit a company name to the Registrar of Companies (ROC) which must be unique, does not connote indecency, and does not infringe the trademark of other companies.
• Open a bank account for the company. This should be done with a Singaporean bank.
• File the Memorandum and Articles of Association to ROC. These documents show the intent to incorporate and the policies governing the internal management of the company which include the handling and distribution of sales, the names of company officials and board of directors, etc.

• Appoint at least one resident director, one shareholder, and one qualified secretary. The shareholder and resident director may be the same person, however, the secretary is not allowed to become a key executive or one of the shareholders.

-- a resident director may be a Singaporean citizen or a foreign individual who is a permanent resident or holder of EntrePass, Employment Pass, or Dependant Pass.
-- the number of shareholders may range between one to 50 individuals or corporate entities.
• Submit the business start-up documents to ROC, which should also include the certificate of identity of%

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