Guide to Setting Up Business In Singapore

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 19, 2011 -- There is no doubt in the fact that there are several options for the foreigners or outsiders to incorporate a company. They can incorporate a company in any part of the world, but Singapore has always remained their favorite as well as popular investment destination. The reason behind this is that Singapore offers very competitive tax incentives.

The best thing about Singapore is that all the new companies or firms are needed to pay 0 dollars in the taxes for the 3 consecutive years on first 100,000 dollars of the chargeable income. Apart from this, there is further exemption of 50 percent on next 200,000 dollars of the chargeable income.

All those foreign investors that are looking for setting up Business in Singapore can form Private Limited Company, a Limited Liability Partnership or a Sole Proprietorship. Of all the companies, those are doing their business in Singapore; most of them are incorporated as Private Limited Companies. Business or companies which come under this classification have to be registered with ACRA i.e. ‘Accounting & Corporate Regulatory Authority’.

Singapore Registrar of Companies has stipulated that all the companies working in Singapore should adhere to their rules as well as regulations. Local as well as foreign entrepreneurs are subjected to the different terms and conditions as per the Company Registration Singapore. Investors can be in the form of individuals, offshore companies, Singapore Residents and foreign Companies.

There are some of the requirements which require being fulfilled prior incorporating in any of the Singapore Company. Directors should meet some of the requirements prior being appointed by the Private Limited Company. Furthermore, the directors should possess some qualifications prior they can be chosen by the Singapore Private Limited Company.

In Singapore, it is allowed to have full foreign ownership. However, law of Singapore states that businesses as well as companies are needed to choose at least 1 director who is the citizen of Singapore, a Dependants’ Pass holder, an Employment Pass holder or an Entraps holder. It is also required for the director to have the residential address. These are some of the conditions which are required to be fulfilled.

For more details:
Low Chee Chen
200 Jalan Sultan, #08-02
Textile Centre, Singapore 199018
Contact No. 6563232261
Lccglobal Pvt Ltd
Website: http://www.lccglobal.com

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