For setting up a company and starting business in Singapore, it’s important to incorporate a company. For this one needs to submit an application online via BizFile+ upon the approval of its name. Company incorporation Singapore offers you a guide line on how to register a private limited company in Singapore. In order to register Singapore company you need to hooked into BizFile+, ACRA’s electr+onic filing and information retrieval system, use your identification number and SingPass for submitting the online transaction. You can take the services of an agent (e.g law firm, accounting firm or corporate secretarial firm) who can submit on your behalf an online application.The application processing usually take 14-15 minutes if the application fee is paid. It might take 15 days to 2 months in case application needs reference of another agency for review or approval.
Advantages Of Setting Up Private Limited Companies In Singapore
Apart from being politically stable Singapore is extremely tax beneficial. Singapore laws prohibit foreigners or foreign corporate entities to self register a Singapore company. You need to engage a professional secretarial to register your company in Singapore. But it provides you enough freedom, like if you merely want to incorporate a private limited company but don’t want to relocate to Singapore you are free to do that. You have no obligation of obtaining any special Singapore visa. You are free to operate your company from overseas as well as free to visit Singapore on a visitor visa whenever you want to.
Documents That You Would Require For The Purpose Of Company Incorporation
For incorporating company in Singapore, the following information is required by the company registrar:
Brief description of activities pursued by the company
Address that has been registered
Company secretary information
Company Incorporation Singapore consults will collect the necessary documents from you to prepare the necessary Company Incorporation paperwork.
How to Register Singapore Company: Procedure and Timeline
Company registration process in Singapore is fully computerized by the registrar of Singapore companies. As a result this process is really quick and efficient. Under normal circumstances, the company incorporation takes place within 1-2 days. There are mainly two distinct steps involved in this process a) approval of company’s name b) registration of the company. Both steps can be completed on the same day if there are no delays caused by company registrar.
SOAS Trust Limited offers consultancy services for companies to be incorporated in Labuan to take advantage of low tax benefits from off-shore trading, setting up of Labuan foundations, trust funds or private funds and wealth management.