Asiabizservices Answers Common Questions On Singapore Company Incorporation

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 27, 2010 -- In a effort to educate and promote business awareness, Asiabizservices one of the leading Singapore Business Registration companies answers some of the most asked questions regarding Singapore Company Incorporation.

Incorporation is the process of forming a new corporation. The business structure stands on its own as a legal entity separate from its owners and shareholders.

“Businesses who decide to incorporate a Singapore company will enjoy a many advantages, the most notable of these is the “limited liability” which is a legal arrangement wherein their personal assets are protected from the financial liabilities, losses, and debts related to their business”, Asiabizservices said.

Here are Singapore Company Incorporation frequently asked questions:

Question: What are the basic requirements in order to incorporate a Singapore company?

Answer: The basic requirements are the following: at least one shareholder, one resident director, and one qualified secretary, a company name, a minimum paid-up capital of S$1 or its equivalent in any currencies, a registered office address, and the Memorandum and Articles of Association which are the documents showing the nature of business and the policies governing the internal management of a company.

Question: How many directors are allowed in a Singapore company?

Answer: Under the Singapore Companies Act, there is no limit on the number of local or foreign directors as long as they are at least 18 years old, not considered “undisclosed bankrupt,” and not convicted of serious offenses and malpractices.

However, there should be at least one resident director who may be a Singaporean citizen, permanent resident, or foreign individual who has Employment Pass, EntrePass, or Dependant Pass.

Question: How many shareholders are allowed in a Singapore company?

Answer: A Singapore company is allowed to have one up to 50 shareholders who may be local or foreign individuals or corporate entities. But if it goes “public,” it may invite more than 50 shareholders.

What are the most important requirements for foreign businessmen who want to relocate in Singapore?

The first thing they should do is hire a business registration firm that will incorporate their company. (Under the Singapore Companies Act, any foreign entities or individuals are prohibited to self-register their business.)

Once they have incorporated their company, the next step is to apply for the Employment Pass which is a visa that will allow them to stay in the country to manage their business.

Does the country allow 100 percent foreign shareholding?

Answer: Yes. A Singapore company may be 100 percent owned by a foreign corporate entity or individual.

Is it possible to have a company in Singapore without having to relocate?
Answer: Yes. However, foreign businessmen or companies should appoint at least one resident director.

Asiabiz is an ACRA registered service bureau. We provide a complete corporate solution under one roof to be able to form a Singapore company and process Singapore company incorporation of private limited companies with the opening of corporate accounts, corporate services including accounting, tax, immigration related to work passes visa and compliance services in Singapore.

For more information:
AsiaBizServices.com
address: 120 Telok Ayer Street Singapore 068589
phone: +6563034614
website: http://www.asiabizservices.com/

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