Advantages Of Setting Up A Singapore Corporation
Singapore is considered as a potential gold mine for business. The Government of Singapore provides host of facilities to encourage able businessmen to develop their business activities, which in turn would enhance the overall economy of the country. If we take an in depth look into the requirements for setting up a Singapore Corporation, we would be in a better position to understand it in a practical way.
When a Singapore Corporation is incorporated the government gives them immense tax benefits in various ways that really forms the center of attraction for investors.
It gives the flexibility for choosing the Directors. Even if all of them except one, are foreigners they are allowed to form the company. But the said one, should be a citizen / permanent resident of Singapore or holding a Singapore Work Pass.
Yet another flexible offer is that unlike many, the shareholder can be a minimum of one only and a maximum of 50.
Setting up of Singapore Corporation seems to be the easiest work among all. They require the minimum documents like company profile with its proposed activities to be undertaken, the details of Directors and shareholders and the Company Secretary along with their passport or Photo Identity and address proofs, Memorandum and Articles of Association of the Company. And the registration would be complete in two simple steps. Get the name approval (which takes hardly a few hours) and then submitting the above documents after name approval. They have the facility of online registration facility too.
If complete on all aspects, the registration takes a few hours only. And once the incorporation is complete you are intimated through an email. In cases where an external agency is used, it may take a longer time of max 2 weeks.
The best liberal part of the Government of Singapore is the 100% ownership by a foreign entity, along with no restriction on the types of business they can engage in.
They have even provided the facility of remote operation of business. Now the Director(s) of a Singapore Corporation [http://www.singaporestartup.com/] need not be necessarily staying within Singapore. They can do business staying in their own comforts in a different country and make occasional visits through the Work Visa. But, in such case, the only thing they need to do is, appoint a nominee Director / Resident Director. In case one chooses a Nominee Director, the option of giving him or not giving him any ownership and management involvement lies with the other directors. Hence, it is not mandatory.
And so also, one need not have a physical office set up which is plus point when it comes to fixed expenses and especially, in case of remote operations. The only thing is that, a local registered address is required for making official correspondences.
Or otherwise, even if one wants to relocate to Singapore to do business, Government of Singapore welcomes them and provides them with the needed Work Visa. There are two categories: Singapore Employment Pass (for University Educated businessmen) or Singapore Entrepreneur Pass (for those who do not posses the needed educational background to obtain the Employment Pass but have a good exposure in business).
With so much to offer it's not a surprise to see Singapore brimming with economic prospects.
When a Singapore Corporation is incorporated the government gives them immense tax benefits in various ways that really forms the center of attraction for investors.
It gives the flexibility for choosing the Directors. Even if all of them except one, are foreigners they are allowed to form the company. But the said one, should be a citizen / permanent resident of Singapore or holding a Singapore Work Pass.
Yet another flexible offer is that unlike many, the shareholder can be a minimum of one only and a maximum of 50.
Setting up of Singapore Corporation seems to be the easiest work among all. They require the minimum documents like company profile with its proposed activities to be undertaken, the details of Directors and shareholders and the Company Secretary along with their passport or Photo Identity and address proofs, Memorandum and Articles of Association of the Company. And the registration would be complete in two simple steps. Get the name approval (which takes hardly a few hours) and then submitting the above documents after name approval. They have the facility of online registration facility too.
If complete on all aspects, the registration takes a few hours only. And once the incorporation is complete you are intimated through an email. In cases where an external agency is used, it may take a longer time of max 2 weeks.
The best liberal part of the Government of Singapore is the 100% ownership by a foreign entity, along with no restriction on the types of business they can engage in.
They have even provided the facility of remote operation of business. Now the Director(s) of a Singapore Corporation [http://www.singaporestartup.com/] need not be necessarily staying within Singapore. They can do business staying in their own comforts in a different country and make occasional visits through the Work Visa. But, in such case, the only thing they need to do is, appoint a nominee Director / Resident Director. In case one chooses a Nominee Director, the option of giving him or not giving him any ownership and management involvement lies with the other directors. Hence, it is not mandatory.
And so also, one need not have a physical office set up which is plus point when it comes to fixed expenses and especially, in case of remote operations. The only thing is that, a local registered address is required for making official correspondences.
Or otherwise, even if one wants to relocate to Singapore to do business, Government of Singapore welcomes them and provides them with the needed Work Visa. There are two categories: Singapore Employment Pass (for University Educated businessmen) or Singapore Entrepreneur Pass (for those who do not posses the needed educational background to obtain the Employment Pass but have a good exposure in business).
With so much to offer it's not a surprise to see Singapore brimming with economic prospects.
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