Companies are all required to register somewhere but many today are opting to register in Singapore. Although registering in Singapore may be easier than it is in many countries due to the government there encouraging companies to register, probably the main reason why so many companies registering there is the lower taxation rates for businesses. A company registration Singaporeis not though an automatic process as certain criteria must be met in order for a company to qualify to register. The criteria are not difficult to meet if a company seeks the assistance of one of the businesses located in Singapore that especially specialize in assisting foreign companies with registration. If a company does not seek assistance, there are three requirements which they may find problems in meeting and those requirements are the need for a Singaporean director to be nominated, the need to maintain accurate records of transactions made in Singapore and thirdly the providing of a company address In Singapore. By seeking assistance, a company would discover that although a Singaporean citizen is preferred as a director, the government will also accept either a permanent resident of Singapore or a current director, if they have a valid Singapore employment permit.
The records of transactions are not really a problem but the problem is that the Singapore government requires that those records are kept by a corporate secretary that is a Singapore citizen. Once again, if a company seeks advice, they would learn that the government will allow them a 6 month grace period, from when they register, in order to find a suitable corporate secretary but, if the company were to seek advice from one of the businesses in Singapore that offer it, they may find that that same business may fill this post for them. Lastly, obviously providing a Singapore address should not be a problem but unlike many other countries, the Singapore address in these instances, cannot just be a PO Box number. It is a requirement of the Singapore government that any company wishing to register in Singapore must have a place of business in Singapore. This means that an address provided must not only be a genuine address but it must also, at that address, have an office which is open during business hours.
If a company does register in Singapore though, it can enjoy more benefits than just a lower tax rate as, among other things Singapore is the third wealthiest country in the world and that reflects in the fact that people that work or live in Singapore, enjoy the benefits of being in a country which is ranked top in Asia for quality of life. It will also enjoy the benefits that come with being registered in a country which is well-known for its stable political system. Perhaps another of the bigger advantages is that due to its location, Singapore is ideally situated to foster trade between companies of both the east and west alike as it is on the main shipping route between the two.
Singapore is said to be, by the World Bank, the best country for business and this has prompted many businesses to register there. Also what is appealing to many businesses is its location situated in the middle of east and west but perhaps what is even more appealing is the fact that whilst not being what some would call a tax haven, it does have tax laws that are very much in favour of businesses. Added to that is the fact that the country is safe and the quality of life there is good, rated as being the best in Asia. Unlike some its neighbours, Singapore is rich and is rated by Forbes as being the 3rd wealthiest country in the world. This is a factor that helps Singapore to have a well-educated work force earning it the reputation of having the world’s #1 work force and they are obviously available to any business that registers in the country.
In fact, it is a requirement that certain posts or positions are taken up by Singapore residents if not citizens. A director of any company registering in Singapore must be, if not a citizen, at least a resident or a holder of a suitable employment card. A corporate secretary must be named and that secretary must a no less than a Singapore citizen. The director can of course be a name only title with them not actually having any say in how the business runs or the accounts but the secretary is expected to know sufficient about the business to maintain all records required by Singapore law. At first this may seem like a bit of a problem but it does not have to be and certainly should not be anything to put you off as, Singapore businesses like singaporeincorporationservices.com can help in many ways. This business and ones similar to it, will help you register in Singapore and can even provide or act as a nominee director and a corporate secretary or offer the secretary services required by the law.
These businesses are well established and have been helping other businesses and corporations to register in Singapore for years and so their experience and assistance will make the registration process easy and less frustrating. By using the services that these businesses offer also means that you will comply to every requirement by law and not miss one of the minor points which could later, cause you problems. The many foreign businesses that have already registered in Singapore are enjoying the lower tax rates the country charges and have possibly already made use of the 3 year tax break that the country offers to new businesses. The whole country seems to be business orientated which provides for a professional atmosphere and one that executives can feel comfortable in. The government, which is considered to be very stable, is friendly and helpful in their actions when it comes to foreign businesses, something that many countries aren’t but it is this consideration given to foreign businesses which makes Singapore the success that it is today.
Have you always dreamed of establishing your own brand? Do you have the money to hire people and pay for supplies but simply don’t know how to go about creating a legitimate enterprise? As long as you’re willing to persevere and really have the resources to fund your pursuits, you may be able to run a company of your own. Also, you shouldn’t be afraid of having a business. Right now, you don’t have to do everything on your own. That’s because you can get more cash for funding by inviting people to become shareholders or part owners of the business that you’re planning to set up. You can also search for individuals that you could pay for to have things done for you. Now, you can be a business owner in no time, as long as you have the right finances and people to work with. If you’ve always dreamed of having an original brand established, you shouldn’t be discouraged to work on having it launched. Lots of enterprise owners started out with nothing and managed to become millionaires so you may have what it takes to put up your own brand in the market.
Before anything else, you have to be concerned about company registration first. If you can’t have your enterprise registered, you may not be able to operate your business. Of course, the government moderates people so that’s why authorities insist that business owners register the names of their business. Whether you want to start put up your trademark locally or abroad, you have to find out how you could make your enterprise listed or recognized first. Once you already find out where you could register the name of your business, you should then know name you’re going to use. It has to be something that’s fit for an enterprise and that which isn’t misleading or inappropriate in nature. You ought to look for a director for your business first too. That’s because you need to prove that your company is going to really function, when you’d have it listed. Aside from having a director, you need to have at least one shareholder as well. Take note that the government would only allow you to run a business when it would see that the enterprise that you’d establish could hold up on its own so that’s why officials require owners to comply with certain requirements. To really increase your chances of being allowed to operate your business, you have to show that you’ve got the cash or capital for operations too.
Of all the things that you should be concerned about when it comes to establishing an enterprise, there’s the location of your business that you should focus on. Prior to registering your brand’s name, you still have to find an ideal site for your company. You may choose a place where workers could have easy access to or a spot where customers could reach your physical establishment easily. It would be wise for you to select a location that can give you the benefit of being able to let employees and customers save on travel expenses.