How External Agencies Help you With Company Incorporation Services in Singapore?

Conveniently located in the heart of Southeast Asia, Singapore is believed to be one of the ideal locations for setting up a business. The country has a flourishing business milieu that pledges to cater to the varied needs of people belonging to all cultures. And in terms of competitiveness, Singapore is comfortably positioned as the second most competitive city in the world.

No matter how easy it might be to setup a business in this Southeast Asia country, the country laws do not allow foreign individuals and corporates to self-register their businesses and companies in Singapore. This is exactly where the importance of external professional agencies offering incorporation services in Singapore comes into play. Additionally, there are certain regulatory norms and requirements set down by the Companies Act for starting and operating a business in Singapore, all of which requires the services of a secretarial firm.

Incorporating a company in Singapore is quite easy, but professional agencies have made the task even easier. Companies offering incorporation services in Singapore do it right from the scratch and continue to handle all your incorporation and registration needs until your venture is ready to take off. As a foreigner you need not worry about the steps to get your business registered or acquiring a registered address for your company, getting your company name approved by the company Registrar etc. Furthermore, delegating the task of incorporation allows business owners to focus on the core activities that are critical to business operation.

As experienced and established players, these professional agencies have mastered the art of incorporating companies. They know where to place the right files to get the work done in a quick and efficient manner. They know best which operation has to be handled in what way; and as a result of their collaboration with some of the industry experts, these agencies pledge to offer best services at the most affordable rates, along with 100% customer satisfaction.

All about Singapore Company Incorporation

Though company incorporation is a common practice today, there are so many businesses that dismiss the possibility and importance of incorporation simply because they think it is expensive, time-consuming and a sheer waste of money. However, let us tell you that incorporating your business into the state from where you’re functioning actually has its own benefits. Incorporating in Singapore, for instance, remains a smart move solely because of the fact that the country has a relatively liberal tax system, flexible immigration policies and offers great ease of doing business.

Exploring the nuances of Singapore Company Incorporation

And no! Singapore Company Incorporation is not an expensive proposition! In fact, company incorporation only becomes expensive when businesses are actually not aware of the perfect way of approaching the whole process. You hire the wrong agent who doesn’t have the proper knowledge of the rules and regulations existing in Singapore, you will actually end up spending and not be able to guarantee a headache-free experience for yourself on top of that.

So, make sure that you are choosing an agent who is well aware of the norms existing in Singapore since you are willing to conduct business in that country. The trick is to hire a local agent simply because of obvious reasons.

The process of company formation in Singapore starts right from the choice of the name of the company. The name, thus chosen, should be decent, meaningful and unique (i.e. without infringing copyright issues).

The most preferred form of company incorporation in Singapore is the private limited company. Partnership and sole proprietorship definitely are the other choices.

Pay heed to this point

It is very important to choose an agent who is well versed with the nuances of company registration norms that are prevalent in Singapore. Not to forget, registration norms differ from state to state.

How To Incorporate A Company In Singapore

For setting up a company and starting the business in Singapore, it's important to incorporate a company. For this one needs to submit an application online via BizFile+ upon the approval of its name. Company incorporation Singapore offers you a guideline on how to register a private limited company in Singapore. In order to register Singapore company you  need to hook into BizFile+, ACRA’s electr+onic filing and information retrieval system, use  your identification number and SingPass for submitting the online transaction. You can take the services of an  agent (e.g law firm, accounting firm or corporate secretarial firm) who can submit on your behalf an online application.The application processing usually takes 14-15 minutes if the application fee is paid. It might take 15 days to 2 months in case application needs the reference of another agency for review or approval.

• Advantages Of Setting Up Private Limited Companies In Singapore

Apart from being politically stable, Singapore is extremely tax beneficial. Singapore laws prohibit foreigners or foreign corporate entities to self-register a Singapore company. You need to engage a professional secretarial to register your company in Singapore. But it provides you enough freedom, like if you merely want to incorporate a private limited company but don't want to relocate to Singapore you are free to do that. You have no obligation of obtaining any special Singapore visa. You are free to operate your company from overseas as well as free to visit Singapore on a visitor visa whenever you want to.

• Documents That You Would Require For The Purpose Of Company Incorporation

For incorporating company in Singapore, the following information is required by the company registrar:
Company name
Brief description of activities pursued by the company
Shareholders information
Directors’ information
Address that has been registered
Company secretary information
Constitution

Company Incorporation Singapore consults will collect the necessary documents from you to prepare the necessary Company Incorporation paperwork.

• How to Register Singapore Company: Procedure and Timeline 

Company registration process in Singapore is fully computerized by the registrar of Singapore companies. As a result, this process is really quick and efficient. Under normal circumstances, the company incorporation takes place within 1-2 days. There are mainly two distinct steps involved in this process a) approval of company’s name b) registration of the company. Both steps can be completed on the same day if there are no delays caused by company registrar.

Benefits of getting in touch with a Singapore company incorporation service provider

Singapore is a leading center for business activities in Asia where most businesses try to set up their centers. The reason for this is that it serves as a major entry point for companies to get into the Asian market. A company that has appealed to the large Asian market can naturally have an edge over market competitors. Moreover, Singapore provides with some of the best facilities for business growth and expansion. The country enjoys a stable government and economical system. Moreover, the local government is open-minded enough to welcome business activities from all parts of the world and this has really helped companies belonging to different sectors to set up their centers there.
The country of Singapore can also boast of a lenient tax system that makes it profitable for the business firms to carry out their operations there. Apart from this, there is easy availability of skilled labor in Singapore along with highly developed infrastructure. Such factors have encouraged countless business firms to set up their offshore companies in Singapore. In fact, setting up an offshore company here can be the best way to quickly enhance a business firm’s financial condition and plan further progress to solidify its position in the market.

In order to set up a company in Singapore, it needs to be incorporated into the company registry of the country. This is something that can be done by a professional firm that regularly offers incorporation services in Singapore. These companies are well versed with the process of company registration in Singapore and so they can take care of all the necessary legal formalities associated with the process. By making sure that the setup and incorporation process goes smoothly from the beginning to the end, these companies can provide business owners with the peace of mind that they need to handle the more important business management tasks that ensure proper handling of the business.

When a business firm is looking to setup Singapore Company, one of the first things that it needs to address is the requirements and plans that the company has with the offshore firm in the firm. While some business owners choose to relocate in Singapore, there are others who may prefer to stay in a different country and manage all business operations from there while coming to Singapore from time to time to take care of certain business tasks. Whatever the specific needs of a business owner might be, it is necessary that they are properly communicated to the company incorporation service provider so that appropriate arrangements can be made.

There are a number of services that a Singapore company incorporation service provider can offer to clients. For instance, they can arrange for the bank registration that would be necessary for setting up a company in Singapore. If a company needs to have a local resident director in Singapore that will represent the business firm, then the service provider can arrange for that as well. It is due to such benefits that it is considered practical to get in touch with a Singapore company incorporation service provider. www.soas.com.sg