Rikvin Collaborates Singapore Company Registration Process And It’s Benefits Hundreds of foreign companies are nestled in Singapore's Central Business District, ranges from banking, insurance and law firms, to design and art companies, to bar and restaurant chains. Singapore company registration is also a very popular option for international entrepreneurs, and SME's, wishing to register any type of business. The main reason for this appeal is the quick and efficient procedure of registering a company in Singapore. A typical Singapore registration procedure with the help of Rikvin is as follows: •
A Singapore company name and corporate structure are determined. The service firm chosen to help register your company in Singapore presents the application to the Accounting and Corporate Regulatory Authority of Singapore (ACRA). The approval/rejection normally comes quickly unless the pending name has to be reviewed by an external authority, which may then take 1-3 weeks for notification to be received.
If the details are approved, a minimum of one resident individual director (corporate directors are not allowed) is appointed. A resident is classified as a Singapore Citizen, a Permanent Resident, a person with an Entrepass, Employment Pass or Dependent Pass.
At least one shareholder has to be appointed. The maximum number of shareholders a private limited company can have is 50. A director and shareholder can be the same person.
The minimum authorised share capital for a Singapore registered company is S$1.
A Unique Entity Number (UEN) is given to the company as its identification number.
A certificate of incorporation is given by ACRA and the company details can be viewed from the ACRA online public register.
Rikvin says “there
many good things about registering a Singapore company.” And they are as
follows: Lack of Corruption Singapore is considered by many, as one of the least corrupt countries in the world. This gives business a competitive advantage. People are more likely to do business with a company in a country where corruption is not considered to be a problem. It is also good for businesses that are setting up in Singapore. Company formation in Singapore can be on an even level of competition. One business will not have an unfair advantage over another. This makes more opportunities for everyone involved. Taxes Many consider Singapore to have a great deal of tax advantages. They have a low corporate tax rate and
the opportunity for tax exemptions also. Singapore also has tax treaties with many countries. This helps to avoid any possibilities of double taxation. Client Confidentiality Laws Singapore has laws that protect the confidentiality of clients. For example, people may invest money in Singapore banks with confidentiality. This attracts many investors to Singapore and this adds to the national economy. Incubator Development Programme Singapore's Incubator Development Programme is another reason to consider forming a Singapore company. You may receive financial assistance in starting up your business. It may be as much as seventy percent. Perhaps you are developing new products or services. It may also provide for hiring mentors to assist in business startups. You may also receive aid with things like operating expenses. Global Investor Programme You may receive permanent residency by investing in Singapore business. The purpose of the program is to attract talent from all over the world, to live, work, and invest in Singapore. There are three ways that you may qualify: 1. You may have a background as an entrepreneur. 2. You may have extensive experience in running a business. 3. You may have an approved plan for business or investment. There is a minimum of a one million dollar investment required. You can invest in a new business. It may also be to expand an existing business. About the Publisher: Rikvin has successfully helped foreign and local entrepreneurs form a Singapore company. The company provides complete corporate solutions to investors and entrepreneurs both local and abroad. Among its specializations are Singapore company registration and providing professional services relating to financing and compliance services. Rikvin assures its clients of confidence in dealing with every transaction. Its employees maintain competence and above all, Rikvinâ€™s principles adhere to business ethics and all applicable laws. Its goal is to provide a highly personalized and professional service worthy of our clients loyalty. â€œOur phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions.â€? For more information, visit: Rikvin PTE LTD 20 Cecil Street, #14-01, Equity Plaza, Singapore 049705 Main Lines : (65) 6438 8887 Fax : (65) 6438 2436 Email : firstname.lastname@example.org Website: http://www.rikvin.com/