These Services Help You Start Your Singapore Company

Setting up a company in Singapore is what most foreign companies are looking at. It is an exciting prospect considering that Singapore is the top business-friendly country where the government is very stable and corruption-free. Singapore boasts of many positive pointers for businessmen who are looking to expand in the Asian region. The strategic position and the excellent infrastructure in the country helps to feed the nations in the region.

Singapore has a very stable economy that can help any business grow well. The population in Singapore has a very good purchasing capacity which will make it easy for foreign companies to sell their products. Being a trading economy Singapore can help these companies in selling the goods to countries near it. Singapore has signed free-trade agreements with many countries which will further help in sending goods from here.

Registering A Company In Singapore

Registering and incorporating a company in Singapore is very straightforward and quick. Many of the people who want to start a business don’t know the procedure and will be going in circles trying to get their companies incorporated as they don’t know the exact procedures. This is where corporate consultants in Singapore help investors. Foreign companies can hand over this work to the consultants and rest assured that their company will be registered within a short time.

Though the incorporation process is simple there are certain conditions that anyone must meet to complete the process. Apart from submitting the documents, the investors will have to appoint persons for two important posts. There must be one resident director at least for the new company. There must also be a minimum of one company secretary who has to be appointed within six months from incorporation.

Appointing The Right Resident Director

Any private limited company has as many directors as they want. These can be foreigners or residents. But there must have at least one director who is a resident of Singapore. The person must have a place of residence in Singapore, must be above 18 years of age and should have never been convicted by the law. For a foreign company seeking to set up an office here, it is difficult to find such a person.

Finding a Singapore resident to take up the post is difficult in two ways. Firstly, most people won’t be ready to take the post unless they are well-known to foreigners. This is because a resident director is responsible for the closure of the company if the foreigners didn’t start functioning and he or she will have to pay the closure fees. For the company, it is risky to appoint any person as a director because the company’s reputation depends on the person. The company can’t find the correct person.

Getting The Support Of Service Providers

Corporate consultants come to your help when you need a resident director. The nominee director service will help you to get the right person as resident director for your company. The person will be suitably qualified and have a good standing in society. Moreover, he or she will be thorough with the job and the local company laws. This service is available either temporarily or permanently.

Singapore allows employment pass holders to be the resident directors. Once you set up your company you can get an employment pass and become the resident director. The nominee director will resign from the post and hand over the charge to you. This arrangement has helped many foreign companies to start their operations in Singapore.

Fulfilling Another Obligation With Consultant’s Service

Another condition for setting up a company is to appoint the company secretary within six months. This person also needs to be a resident of Singapore. Additionally, the person must be highly qualified and experienced in running a company. The company secretary is tasked with keeping the company fully compliant with the local laws. This means that he or she must be familiar with the laws to advise the directors.

The company secretarial services offered by corporate consultants will help to solve this problem. They have people who know the local laws and can help the company function within the legal framework. This person will also attend to the other responsibilities like calling for the annual general meeting and recording the proceedings. The company secretary must also keep the books and seals of the company safe. The person will also file the annual returns and board resolutions.