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Overview On How to Form a Singapore Company provided by Asiabiz
Overview On How to Form a Singapore Company provided by Asiabiz
Business registration specialist Asiabiz believes that due to the strategic location of Singapore.
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(pr4links.com)
26/10/2010
Business registration specialist Asiabiz believes that due to the strategic location of Singapore. The country has been considered by the international community as one of the most ideal business hubs in the Asia Pacific especially with its proximity to major markets including China, Malaysia, Taiwan, India, and Australia.
In addition with the city-state’s strategic location, it also boasts favorable corporate and taxation laws to foreign companies, world-class infrastructure, and pragmatic government.
But before any foreign companies or entrepreneurs setup a Singapore company, they should first consider the following information stated below, in this way, they will not overlook important provisions stated under the corporate law, according to Asiabiz.
* Under the Singapore Companies Act, foreign companies and entrepreneurs are prohibited to self-register their own business in the country. With this provision, they need to hire a Singapore business registration firm to do the processes involved in the application.
* Foreign companies can register or incorporate their business without physically handling the process since this will be performed by their hired business registration firm. However, it is important to note that most banks in the city-state require the physical presence of a company’s principals before they can open their bank accounts.
* Foreign businessmen can setup a business in Singapore without relocating in the country as long as they will hire at least one local resident director who may be a natural citizen or foreigner who holds Employment Pass, EntrePass, PR Status, or Dependant Pass.
* For foreign individuals who want to relocate in the country to personally operate their business, they should secure any of these visas: Employment Pass which is usually given to foreign businessmen with a college degree, or EntrePass which is issued to individuals who lack college diploma but have entrepreneurial skills and professional qualifications. If they have secured one of these permits, they can act as a local resident director.
* Foreign companies and businessmen can relocate their workers as long as the latter will apply for a work visa. In addition, documented foreign businessmen and workers are generally allowed to bring their “direct family members” (e.g., children under 21 years old and spouses) in the country.
* Foreign and international companies can have a presence in the country by adopting any of these three business structures:
* Singapore Representative office that is allowed to conduct feasible studies and market research but is prohibited to engage in revenue-generating activities.
* Singapore Branch office that is treated as a legal extension of its parent company.
* Singapore Subsidiary company that is considered as a separate entity from its main headquarter. With this, it is treated as a local business, thus eligible for all the local tax benefits and exemptions.
About the Publisher:
Asiabiz provides a complete corporate solution under one roof to form a Singapore company and process Singapore company incorporation of private limited companies with the opening of corporate accounts, corporate services including accounting, tax, immigration related to work passes visa and compliance services in Singapore. The Firm has successfully helped thousands of foreign entrepreneurs setup an Singapore Company Incorporation.
AsiaBizServices.com
address: 120 Telok Ayer Street Singapore 068589
phone: +6563034614
website: http://www.asiabizservices.com/
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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