Business

All About The Singapore New Company Incorporation

Singapore’s pro-business climate, low tax rates, and good intellectual property rights are only a few of the many reasons why local entrepreneurs chose to start their businesses here or why multinational corporations choose to grow their presence here. As a result, it’s the perfect place for singapore new company incorporation.

How to incorporate a company?

Before you can bring your business strategy into effect, you must first incorporate your corporation with singapore’s accounting and corporate regulatory authority (acra). You will need to provide the following information-

  • Company name
  • Company type (private limited company is the most popular structure)
  • Principal activities
  • Details of director, shareholder, secretary (minimum 1 resident director required)
  • Paid-up share capital of minimum singapore $1
  • Shareholdings of each shareholder
  • Registered office address
  • Financial year-end

Some additional information

In addition to the required paid-up equity capital of $1, there will be a flat fee of $15 on the corporate name filing and $300 in incorporation fees. Both costs are contained in our incorporation kit. This is the cost for singapore new company incorporation. Acra singapore will approve the business incorporation application. Then, with a reputable company incorporation contractor doing the document preparation, the company registration process will be completed easily and effectively within hours.

Following the effective incorporation of your organization, there are several immediate tasks to complete. This involves naming a corporate secretary, opening a local bank account, and registering for goods and services tax (gst) if the company requires it. It is a legal obligation to select a competent corporate secretary based in singapore within the first six months of establishing the new entity.