Monday 24 October 2016

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.