Singapore Business Registration Guide for 2011 -Specifications For Private Limited Singapore Business Set-up

Singapore Business Setup Guide for 2011

2 types of businesses could be registered in Singapore. The first and the easier to register is definitely the sole proprietorship, which, like the name indicates, is run by one specific person. And the second type is the private limited company which absolutely had to have below 50 shareholders, and which should satisfy quite a few Singapore company incorporation demands.

Singapore business registration, both equally for single proprietorship or for private limited companies, requires an organization name to be registered plus the application of incorporation. The paid-up capital for both sorts of business enterprise is actually same-S$1. This is what most green horns in establishing a company likes in Singapore's pro-business environment.

Singapore company formation is filed with the ACRA, or the Accounting and Corporate Regulatory Office of Singapore. ACRA plays the position of the regulator of the businesses and of the accountancy group in the country.

For private limited companies, Singapore business set-up comes with the following requirements:

1. Organization name and application of incorporation. The enterprise name must not be a current and already documented brand name, can not include any kind of vulgar term, and will not be restrained by the Minister for usage by the general public.

2. The business has to have one or more shareholder and one director, who could be the very same persons, however a large number of financial institutions necessitate a pair of signatories so it is advisable to select a separate shareholder and director among all shareholders and this can be up to 50.

3. One of the directors have to be at least 18 years old, a Singapore citizen or permanent resident, an Employment pass, Approval-in-Principal Employment pass, or a dependant pass holder.

4. An actual company address need to be provided. A P.O. Box is simply not just authorised.

5. The private limited company requires a dedicated and knowledgeable secretary within half a year of the registration. He or she is assumed to become competent of the administrative specifications of the company.

As with any application, Singapore company setup tend to be simplified, seamless, and stress-free assuming every one of the specifications are in order. Service providers assist in this in sure-fire means. This will then ensure business owners of a prompt development at agreed-upon service charge, something which is significant specifically for people who have a conservative beginning capital and who want to begin with running as a legal company entity the soonest time possible.

Get more information about Singapore Company Formation at http://www.e-sandhurst.com.

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