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Incorporating A Singapore Company Incorporating A Singapore Company April 21 Welington Castillo Diamondbacks Jersey , 2013 | Author: Amy Alvarez | Posted in Business
The business and trade industry is no doubt one of the main priorities of Singapore. Opening its doors to both local and international companies alike has certainly helped the country gain solid footing in the global economic race. It has topped the Ease of Doing Business list of World Bank for numerous consecutive years now, as well as ranking fourth in the Starting a Business category again, which goes to show how it values the industry. It’s definitely easy to establish a business in Singapore, but to guard the rights and the legality of every company, it also strictly implements regulations.


Singapore company registration is a straightforward procedure. It had been made that way to persuade investors to establish their business in the country. Whatever type of business they prefer, they can have it completely registered within minutes. They just need to register it with ACRA or Accounting and Corporate Regulatory Authority. The same is applicable as well for company incorporation process.


Any person who is 18 years old and above Tyler Clippard Diamondbacks Jersey , whether they’re a local resident or a foreign resident, can register a company. They must not be an undischarged bankrupt or at least have acquired the agreement of the High Court or the Official Assignee. An online application at the BizFile website is the first step. They require their SingPass to log in to the web page, though. So for foreigners, they would need to appoint a corporate services company to carry it out for them or have their resident director register their company.


Fifteen minutes is all it takes to finish a registration. However, if the application is passed on to other government organisations for approval or evaluation, it could take longer from 14 days to 2 months. This is usually the case when the registration applications have law Shelby Miller Diamondbacks Jersey , bank, and media in their names. If the registration has been finished, they can now secure other company requirements so they can run their business legally. This includes the appointing of company secretary within six months of their incorporation, the opening of their corporate bank account in the country, and the registration of different business licenses.


There are also reporting requisites that companies must adhere to. They are responsible in making sure that the information they filed with ACRA is always up-to-date and accurate. They can do so by filing the changes via the BizFile website. They also have to submit the mandated annual filings, like the company’s annual returns.


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