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Singapore Company Registration: Own a Singapore Company without Leaving Home
Singapore Company Registration: Own a Singapore Company without Leaving Home
AsiaBiz Services, Singapore’s leading business registration firm, said that foreign entrepreneurs, companies, and shareholders can have a business in the country without having to “physically” relocate in the country.
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(pr4links.com)
19/10/2010
AsiaBiz Services, Singapore’s leading business registration firm, said that foreign entrepreneurs, companies, and shareholders can have a business in the country without having to “physically” relocate in the country.
“The corporate laws and policies of Singapore are designed to attract foreign companies and individuals as these will allow them to choose from different structures they can adopt in order to effectively run a business,” AsiaBiz added.
One of the most recommended business structures foreign companies and individuals can adopt is the subsidiary company which is treated as a “local business resident,” thus making it eligible for the reduced local tax rate and several tax incentives and exemptions.
AsiaBiz said that foreign businessmen may register a subsidiary without having to relocate in Singapore to manage their company. By simply appointing a resident director who may be a “natural citizen” or a foreign staff who holds work visas such as the EntrePass or Employment Pass, foreign entrepreneurs can own a company in Singapore.
However, the business registration specialist has warned that foreign companies and businessmen are legally required to hire a professional firm during the Singapore company registration process.
“Under the Singapore Companies Act, it is a strict requirement to appoint a business registration firm since any foreign corporate entities and individuals are prohibited to self-register their own company,” it added.
One of the most remarkable advantages of having a subsidiary is that the main office is not legally liable for all the debts, lawsuits and claims, and financial losses related to their Singapore-based company. With this, the business structure has been the most preferred by foreign companies operating in a speculative but rewarding market.
“The limited liability of the foreign companies with a subsidiary is one of the most important asset protections that will ensure the continuity of their business despite challenging economic times,” the firm said.
Another notable benefit of having a subsidiary company is the greater business freedom it enjoys. In fact, it is allowed to perform any commercial undertakings, including those which are not part of the business of its parent company, as long as these are in line with the country’s law.
Aside from the greater freedom when it comes to business activities, a subsidiary company is also allowed to conduct market research and feasibility studies in an effort to explore the Singapore market.
“There is almost no limit for foreign companies and businessmen who will register a subsidiary company,” AsiaBiz said.
About
Asiabiz Services Pte Ltd
120 Telok Ayer Street
Singapore 068589
Phone: (+65) 6242 6533
Fax: (+65) 6303 2670
E-mail: sales@asiabizservices.com
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