One of the most essential thing needed for any entrepreneur to setup company in Singapore is to have the approval of ACRA or the Accounting and Corporate Regulatory Authority. One can easily discover that the ACRA plays a very important role in the setup of a foreign company incorporative in Singapore. However, it should also be kept in mind that the Singapore jurisdiction welcomes foreign company incorporation and offers several tax benefits. The options of a company formation in Singapore include the setup of a new Private limited company, a subsidiary company, a branch office or a representative office. In fact the immigration policies of Singapore are also quite liberal and foreign talents are always welcome into the country. Therefore, if you are an entrepreneur they it is certain that you will feel much relaxed under the jurisdiction of Singapore during a Singapore company setup. These feature are farther enhanced with the availability of several special initiatives for Singapore registered companies for growing their business locally as well as their expansion overseas.
However, there are also some rules and requirements that should be followed to setup an incorporate Singapore company. First of all the most important thing needed is the name of the company. The point is that it is essential to match the name of the branch office with the foreign office and the name must get approval from ACRA before the Singapore company incorporation. This is a mandatory fact for any Singapore company registration. Other than the name of the company there are also some other factors that should also be fulfilled as well. Here follows a brief discussion on these factors. To start with there is the requirement of a Singapore resident director of at least 18 years of age and with no bankruptcy or criminal malpractice records. There is also the need of at least one resident shareholder of the company. However, the director and the resident shareholder of the company can also be the same person. Other than that there is also the need of a resident secretary as well. This secretary must be a natural resident of Singapore. Along with these there is also another crucial requirement that one must meet with before the setup of an incorporate Singapore company. This is the requirement of a registered address. This means that every company getting registered in Singapore is required to have a registered office address. However, in this respect it is essential to note that this registered address must be a physical address and cannot be a post box number. However, the use of a residential address in this respect is limited to certain types of business only.
However, once you have met these requirements it is a lot easier for anyone or any company to setup an incorporate company in Singapore. And can avail all the facilities provided by Singapore government for the incorporate companies in Singapore. However, being the world’s fourth most important and leading financial centre and a cosmopolitan world city Singapore plays a key role in the international trade and finance. Therefore it is always profitable to setup an incorporate company in Singapore.