In Singapore, establishing a company is probably the easiest method to open a new business or even relocating a business to Singapore from anywhere else in the world. Company incorporation Singapore however is quite different from a company formation in any other country because of some of its characteristics. For example, a company incorporation in Singapore is not a partnership. Each member of the company contributes equally to the company’s profits, as are the case in any other type of business. Company incorporation in Singapore however, is not a corporation but a sole proprietorship. This status makes it easier for foreigners to incorporate their companies in Singapore since they need not first obtain a business license and it allows them to incorporate a company without paying the prescribed registrations and tax fees in their own country.
They Will Tell You All About Company Incorporation In Singapore – Simple Guide
There are several requirements for company incorporation in Singapore that must be complied with, including the submission of Articles of Association, payment of the prescribed fees by the owner and the translation of the Memorandum and Articles of Association into Chinese language. The company director also signs the Memorandum and Articles of Association. After these documents have been prepared and translated into the Chinese language, the company director signs the instruments of incorporation, thereby completing the process. There are three types of companies in Singapore: General jurisdiction company, Public limited company and Branch offices.
In a general jurisdiction company, the owner is the Chairperson or the CEO and there are no shareholders. In a public limited company, only the company secretary is the shareholder and the company can issue shares to shareholders. In a branch office, the company secretary signs all the instruments of incorporation and the company secretary also act as the company secretary. The directors of a company must be citizens of Singapore and the company must have been registered under the Companies Act either at the Registry of Companies or at the Securities and Exchange Commission of Singapore. Company incorporation in Singapore is very simple. Contact your company secretary now to learn more.