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Steps of setting up a successful business in Singapore
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Posted On :
Sep-20-2017
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Article Word Count :
465
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Singapore is a favored business destination for entrepreneurs from all over the globe due to high-grade infrastructure and business-friendly policies of the city state.
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Singapore is a favored business destination for entrepreneurs from all over the globe due to high-grade infrastructure and business-friendly policies of the city state. In fact, Singapore is considered to be one of the best places for business. Tax benefits and a conducive environment for business have also made Singapore an excellent business destination.
The entrepreneurs wanting to set up businesses in Singapore must go through Singapore company incorporation procedures to get their businesses legally registered with the authorities.
What are the steps?
The first step of Singapore company registration process is securing approval of business name. Business name support is not a complicated process and requires not more than an hour. The name can be rejected in the event of trademark violation or similar name appearing in the business registry.
The main process of company registration Singapore requires a crucial document called Memorandum and Articles of Association. This report consists of the company’s name, liabilities, paid up capital and other information. Other documents are detailing shareholders, address, business description, people working in the firm, etc. are also required for company registration.
Types of companies
Private Limited companies can have 50 corporate members but not less than one. If the business group has not more than 20 members, then it is imperative that no corporate members hold the majority of shares.
Establishing a branch office of an overseas company in Singapore requires 2 Singaporean agents for registration. The branch and the parent company are considered the same legal entity.
Why hire consultants?
There are many benefits of these services of a good business consultant Singapore. Some have been mentioned here.
The consultant companies employ teams of company registration specialists who are well aware of all the rules and regulations of setting up business in Singapore. Compliance with all kinds of rules is necessary for smooth registration of a business organization and such consultants help in achieving total compliance. The experts also provide valuable advice regarding various business-friendly policies, tax concessions, and grants in Singapore. The consultants are also well versed with the Singaporean market and provide precious insights for the benefit of the clients.
The process of Singapore company formation can be time-consuming if done without any help. Thus, it is better to hire local consultants to deal with the complicated procedures and paperwork required for registration. The time saved with the support of services can be utilized for other activities for supporting the business.
Businessmen often incur avoidable and unnecessary costs during registration. A business consultant company gives an estimated value which the client needs to pay. All other kinds of extra charges can be avoided.
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Article Source :
http://www.articleseen.com/Article_Steps of setting up a successful business in Singapore_320874.aspx
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Author Resource :
The author is working as a business consultant in Singapore and in his leisure time he likes to write articles and blogs related to startup business & business formation. In this article, he speaks about Singapore company registration. For more details, visit https://www.e-sandhurst.com/
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Keywords :
Singapore company incorporation, Singapore company registration,
Category :
Business
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Business
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