Business in Singapore is the most welcomed one. As worldwide entrepreneurs and business firms are searching for the best place in Singapore to start the business. It will be much simple for registering as there are the many business incorporation agencies that are providing this job for the low cost. You can simply hire the best agency, and then the company will be registered at the end. It is a simple process for foreigners for setting up a company as they will get more benefits.
Registration of the company for the local people
The local people can simply register the company by setting an attractive name. The ACRA will see the entity of the company, and so this will be easy for you to pick the best one. During the registration process, they will consider the purpose you are going to start the business, either individually or in groups, and other things. You also need to submit the address proof of the company and your details like the identity proof, date of birth, etc. This kind of process will be much simple for business people to start the business immediately.
All these procedures will not take much time as things will be registered directly by the Singapore government. Also, they will check the number of shareholders for the company. It is the must one as this will help them to know who is going to take care of the company after you. You should have to assign at least one of the shareholders, and their address should be in Singapore. The company secretary is also the essential one, and so you need to pick the talented Singaporean for this designation.
Registration of the company for a foreigner
The foreigners also need to appoint the local people like the director, shareholder, and the company secretary. The people who are going to take these designations should not be minor. The company registration is possible by buying the application and registering it. Without the proper incorporating agency, foreigners cannot be able to express their company. So use the help of the incorporating service. You need to follow the unique rules and the regulations for the registration process of the various businesses like the sole proprietorship, limited liability partnership, and also the private limited company. The work visa, employment visa, and the online incorporation details are the must one.
If you are not moving Singapore, then you have to nominate the director who is Singaporean. The owner of the company should have too present in Singapore until the registration completes. It is just for confirmation purposes. The shareholders and the owners of the company should have to submit their detail like the address roof, company registration certificate, company’s address proof, citizenship proof and also their professional background. Once the company is registered, the foreigners will receive the book of the profile about their company’s valuable information. It will be the authority to start the business. It will be much simple for the business person to start the company comfortably.