Bestar-asia.com Publishes a Guide on How to Form a Private Limited Company in Singapore
Bestar Asia's website has a guide on how to form a private limited company in Singapore. You can find it on their website under the title "Guide to Singapore Company Registration" [Bestar Asia company registration guide].
How to form a private limited company in Singapore
Here's a breakdown of the steps involved in forming a private limited company in Singapore:
Before you begin:
Choose a Company Name: Make sure the name is unique and available for registration. You can check availability through ACRA (Accounting and Corporate Regulatory Authority) Singapore's website [ACRA Singapore company name check].
Select a Business Activity: Identify your primary business activities and choose the corresponding Singapore Standard Industrial Classification (SSIC) code [Singapore SSIC code].
Key Requirements:
Shareholders: You need at least one shareholder (individual or company) and can have a maximum of 50. There's no restriction on nationality; 100% foreign shareholding is allowed.
Directors: At least one director must be ordinarily resident in Singapore. This can be a citizen, permanent resident, or someone with an Employment Pass/Entrepreneur Pass with a residential address.
Company Secretary: Every company must appoint a company secretary within six months of incorporation. This can be a director but cannot be the sole director.
Share Capital: The minimum initial paid-up capital is S$1.
Registered Office Address: You need a physical office address in Singapore to receive official documents.
Registration Process:
Reserve your Company Name: Submit an application through ACRA.
Prepare Incorporation Documents: This includes the company constitution (similar to a shareholder agreement) and details of shareholders, directors, and company secretary.
Submit your Application: Electronically file the registration application with ACRA. There are fees involved.
Obtain Approval: Upon successful application, ACRA will issue an electronic Certificate of Incorporation.
Additional Steps:
Open a Corporate Bank Account: You'll need a business bank account to operate financially.
Appoint an Auditor (optional): Depending on your company's size and activities, you may need to appoint an auditor.
Register for GST (Goods and Services Tax): If your company's annual turnover exceeds S$1 million, you must register for GST.
How Bestar can Help
Bestar-asia.com Publishes a Guide on How to Form a Private Limited Company in Singapore
Bestar can be a valuable asset when forming a private limited company in Singapore. Here's how we can help:
Streamline the Process:
Expertise and Efficiency: We have extensive knowledge of Singapore's company registration procedures, saving you time and ensuring accuracy.
Minimal Paperwork: We handle most of the paperwork, freeing you to focus on your core business.
Compliance Ensured: We stay updated on regulations and ensure your application adheres to all requirements.
Additional Services:
Company Name Availability Checks: We can efficiently check for available and suitable company names.
Drafting Documents: We can draft the company constitution and other incorporation documents.
Liaison with ACRA: We can handle communication and submissions to ACRA on your behalf.
Opening a Corporate Bank Account: We assist in setting up a business bank account.
Post-Registration Support: Bestar offers ongoing services like corporate secretarial services and compliance reminders.
Benefits:
Reduced Risk of Errors: Our expertise minimizes the chances of mistakes during registration, avoiding potential delays.
Save Time and Effort: We handle the administrative burdens, allowing you to focus on getting your business operational.
Access to Network: Bestar has connections to banks, lawyers, and other professionals that can benefit your business.
By leveraging Bestar's expertise, you can ensure a smooth and efficient company formation process in Singapore, allowing you to focus on launching your business successfully.
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