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2 Things You Must Do When Registering Offshore Companies in Singapore

Many businesses and companies are thinking of offshore company formation these days. Singapore private limited companies are extremely tax effective corporate bodies and are the most frequent kind of business entity formed in Singapore.

If you want to setup a Singapore company, then this requires two important actions:

1) Acceptance of Your Business Name – It is crucial that you have an authorized company name before of incorporation of the company. Firms that specialize in offshore company formation will make this process easier.

2) Company Incorporation – Having the necessary articles & documents for incorporation available makes the process of incorporation faster and less hectic.

Usually, these two requirements can be carried out in one day’s time. This is assuming that your business name is accepted and you have the required documents for incorporation compiled together. The incorporation service firm that you use to help you incorporate will help you do this. You can find a firm at www.bizcorp.com.sg.

These are several significant details that may need to be known when incorporating your new BVI Company:

Nominee Director – At least one director must be a resident in Singapore. Owners must be 18 years old (or older) and cannot be insolvent or charged for negligence or business malpractice.

Paid-up Capital– The minimum amount of paid-up capital needed is S$1. Paid-up capital can be raised any time after incorporation of the business.

Organization Name– The name must be accepted before incorporation happens.

Investors– A private limited organization can have no less than one investor and a maximum of fifty investors. A manager and stockholder could be different individuals or the same individual.

Ask Jay : How To Find Investors For Your Business

Organization Secretary– Every company must have a capable company secretary within six months of incorporation. This is in accordance with Singapore law.

If you have a single manager or stockholder, the same individual cannot become the secretary for the company. The secretary of the company should be a person who is a resident in Singapore.

Listed Address– To be able to file as a Singapore business, you have to supply a local Singapore address as the listed address of the business. The authorized address you use has to be a physical address.

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