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Incorporate a Singapore Private Limited Company
Incorporate a Singapore Private Limited Company
Business registration firm AsiaBiz Services believes that the most popular Singapore Company Setup is the private limited company with its countless of benefits especially when it comes to taxation and asset protection.
Singapore,
Singapore,
Singapore
(pr4links.com)
16/10/2010
"Business registration firm AsiaBiz Services believes that the most popular Singapore Company Setup is the private limited company with its countless of benefits especially when it comes to taxation and asset protection."
Business registration firm AsiaBiz Services believes that the most popular Singapore Company Setup is the private limited company with its countless of benefits especially when it comes to taxation and asset protection.
In Singapore, a shareholder, which is the term for company owners, enjoys limited liability which protects his personal assets from the financial losses, debts, and lawsuits and claims related to business. With this arrangement, the money he has invested to the business is the only one he can lose in case of bankruptcy.
“This company setup, which is more commonly referred as corporation in the Us and other European countries, is attracting entrepreneurs who want to have a business and protect themselves from the financial losses of their companies,” AsiaBiz said in a statement.
In legal terms, a private limited company stands on its own as a legal business entity which means that it can acquire properties, purchase supplies, and file a lawsuit or be sued under its name.
Under the Singapore Companies Act, a private limited company can have one or up to 50 shareholders. Meanwhile, the ownership can be transferred from one person to another without affecting the existence, duties, and rights of a company.
And because its ownership is transferable, a private limited company literally enjoys perpetual existence unless the shareholders decide among themselves to merge with another company or liquidate their business.
“The existence of a private limited company is not affected even if there is a change in management or if a shareholder resigns or dies,” AsiaBiz added.
Meanwhile, foreign individuals and companies can also adopt this Singapore company formation by registering a Singapore subsidiary company which has the same features of a private limited company with a foreign individual or entity as its main shareholder.
In an effort to encourage local and foreign companies from setting up a business, the government provides development incentives and tax benefits to certain entrepreneurs. And one way to qualify for these benefits is to register a Singapore private limited company.
According to AsiaBiz, a private limited company is eligible for 100 percent and 50 percent tax exemptions on its first S$100,000 and S$200,000 chargeable income, respectively, within three years of its incorporation.
But to become eligible for these tax breaks, a private limited company should have at least one individual shareholder who has a minimum of 10 percent shareholdings, and should perform its management and control in the country.
More Information:
AsiaBizServices is the leading Singapore Employment Pass Application specialists. It has assisted thousands of foreign entrepreneurs Form A Singapore Company.
Our office is located at Raffles Place, in the heart of the Singapore business district. ("CBD") If you're in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours. Appointments are welcome but definitely not necessary.
AsiaBizServices.com
address: 120 Telok Ayer Street Singapore 068589
phone: +6563034614
website: http://www.asiabizservices.com/
About
AsiaBiz is a company that provides Singapore Company Registration services to local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation law, accounting and book keeping requirements, and other compliance matters stated under the Singapore law.
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