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Singapore is amongst the Four Asian Tigers, a group of highly-established economies in Asia which includes Hong Kong, South Korea, Taiwan, and the Republic of Singapore. The country is also acknowledged for becoming by far the most business-friendly economy worldwide. Of course, they've made Singapore company registration brief and effective as it does not involve any unnecessary paperwork.

Local and foreign businessmen who would like to commence and run a company in the country must abide by with Singapore's ongoing regulations on Singapore company registration. Here are a few valuable things to consider before looking for company registration or incorporation in the country.

1. International entrepreneurs who would like to branch out and operate a company in Singapore must make use of the expertise of an expert company in compliance with Singapore law. The Singapore Companies Act prohibits foreign business men from self-registering their company.

2. A new company's name, i.e. a non-existent foreign company, must first be approved by the SCA before incorporation occurs. Name approval only takes at least an hour given that it's not at all sent for assessment and acceptance by any external authority.

3. The recommended individual or professional firm appointed to register the company must submit the necessary memorandum and articles of the company's proposal as well as other documents into the Registrar of Companies. The Registrar provides a standard MAA (Memorandum and Articles of Association) document for such function.

4. Once the company name is eligible, a given registration fee of S$300 is due to the Registrar.

5. For a company to be entitled to Singapore company registration, its director should be a citizen of Singapore, permanent resident, a foreigner with an EntrePass (Entrepreneur Pass), Employment Pass, or work visa permit. In addition, the director must be 18 years old and above to be able to start and register a company in the country.

6. A foreigner who wishes to setup a company however , is not moving to the country do not have to get any Singapore visa while he can have a local resident as the company's director. The foreign company proprietor or director can attend company meetings getting a standard tourist or visitor visa. If the foreign director desires to handle the company him self, he or she must first acquire the needed visa, i.e. EntrePass or Employment Pass.

7. While the SCA requires just one company representative on company registration, the director/shareholder are not able to act as the company secretary. The company must have a company secretary within 6 months after the company's incorporation and he/she has to be a citizen or resident of Singapore.

8. The director and shareholder do not really must be 2 different individuals, which means the director can even be the shareholder. Furthermore, a shareholder involved in the company can be a person, another company or legal entity, or trust.

9. Supposing almost all documents are done and accepted by the Registrar of Companies, the incorporation can be carried out in one to two days.

10. Right after acceptance, the Singapore Company Registrar will start to send the Certificate of Incorporation by means of email. This same e-mail consists of the company's registration number and can be used to open up a banking accounts in any key banking institutions in Singapore. A hard copy is offered upon request and can be collected next day in the SCR's office.

Each of those local and foreign business men are persuaded to seek out the services of a professional firm who is well-acquainted with Singapore laws. A qualified professional firm provides special services like Singapore company registration, providing a local director for foreign company owners, accounting, and legislative administration services both for the company and the shareholder.

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