The Singapore government offers a perfect environment for investors and entrepreneurs, who are looking forward to starting a new private company in the country. The entire process of company incorporation Singapore is fairly easy and extremely well-automated, and with some additional assistance, you can complete the registration process in just a few days. Singapore is one of the best investment-friendly places in South East Asia, and the government offers enough incentives for foreign investors, as well. Here are some of the things you need to know.
The basics of setting up a private company
Firstly, you need at least one shareholder to start the enterprise, and that can be an individual or a corporate entity. Also, there must be one company secretary and one resident director for the said private enterprise. The company must also have an initial paid-up share capital of S$1, besides a local office address in Singapore. There’s a name approval fee of $15, and the registration fee is $300. Once the name application fee is paid, the application is processed within 15 minutes. It may take anywhere between 14 and 60 days for the approval, depending on other factors, including the approval of another agency. The concerned company may start with its operations once the registration process is completed with ACRA. However, this is subject to certain terms and conditions, including the need for additional licenses and approvals from other relevant agencies.
Get help for your needs
If you are confused with all the formalities and procedures, you can contact the team of VentureHaven to know more. We are one of the few consultancy companies that deal a wide range of additional services, not limited to accounting, company secretary services, tax preparation, and assistance for further compliances. With a team of highly trained consultants, we offer services that are flexible, and we have helped more than 2000 companies with the setup in Singapore so far. We have readymade packages for company registration, which are based on real requirements. However, if you need other kinds of assistance or help with financial matters, please feel free to contact us, as we can offer customized help on request.
VentureHaven focuses on diverse needs of entrepreneurs so that they can handle and work on other aspects related to their company. From compliance matters to other elements and components pertaining to the IRAS, we can offer help with everything. Call us now for more!