Leading Singapore Registration Company, Rikvin Discusses On How To Setup A Singapore Company

Online, October 14, 2010 (Newswire.com) - While there are a lot of options for foreigners to incorporate a company on various countries, Singapore remains a popular investment destination due to its competitive tax incentives.

The great thing about Singapore is that new companies are required to pay zero dollars in taxes on the first S$100,000 of chargeable income for the first three consecutive years. On top of that, a further exemption of 50% is also provided on the next S$200,000 of chargeable income.

According to Singapore business registration specialist Rikvin, investors looking to put up a company in Singapore may form a Sole Proprietorship, a Limited Liability Partnership or a Private Limited Company. In Singapore, most companies are incorporated as Private Limited Companies.

Companies or businesses the belong to this classification are registered with the Accounting & Corporate Regulatory Authority (ACRA).

The Singapore Companies Act stipulates that all companies in Singapore must adhere to its rules and regulations. Local and foreign entrepreneurs are subject to different terms and regulations as per Singapore Companies Act. Investors can either be individuals, foreign companies, Singapore Residents and offshore companies.

Below are the requirements the companies have to meet before being able to incorporate a Singapore Company

Directors must meet certain requirements before being appointed by a Private Limited Company. With this, Singapore company directors must also possess certain qualifications before they can be appointed by a Singapore Private Limited Company. These added qualifications are as follows:

1. At least one shareholder, one resident director and one company secretary for a registered business

2. At least $1 paid-up as share capital

3. Singapore Office Address

Directors must meet certain requirements before being appointed by a Private Limited Company. With this, Singapore company directors must also possess certain qualifications before they can be appointed by a Singapore Private Limited Company. These added qualifications are as follows:

The country does not prohibit 100% foreign shareholding. In spite of this, Singaporean law requires companies to name at least one director that is a Singapore citizen, a permanent resident, an EntrePass holder, an Employment Pass holder or a Dependants' Pass holder. A Singapore residential address is also required for the director.

Rikvin has helped thousands of clients obtain their Singapore Business Registration and employment passes. Singapore Employment Pass (EP) is the main type of Singapore work visa issued to foreign professional employees, managers, and owners/directors of a Singapore company. For detailed information about Singapore Employment Pass or work visa, refer to Singapore Employment Pass Application.