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Overview: Singapore Company Incorporation

September 17th, 2010 by aprsubmission


With Singapore’s growing economy and strategic location, foreign companies have always considered this country as one of the most suitable business centers in the Asia Pacific region, according to business registration firm Rikvin.com.

 

Fortunately, forming a Singapore company is relatively easy for most foreign businessmen and companies due to its attractive corporate laws and immigration policies.

 

However, it is important to note that under the country’s corporate law, foreign businessmen, companies, and investors are prohibited to self-register their own business which means that they are required to hire a professional firm (which must be accredited by the Accounting and Corporate Regulatory Authority) that will perform all the processes involved in Singapore company incorporation.

 

“Actually, this government-imposed policy is a good thing since professional firms know the best business arrangement and can help their clients to meet all the basic requirements.  With this, foreign businessmen can avoid penalties for failing to conform with a certain regulation,” Rikvin.com added.

 

The firm said that foreign businessmen who are planning to relocate and setup a Singapore company are required to apply for Employment Pass, which is for foreigners with college diploma, or EntrePass, which is for people who lack a college degree but has strong entrepreneurial skills and background.

 

“Employment Pass is generally the most preferred visa for foreign businessmen as it has a less stringent requirement.  For example, this pass only requires a minimum paid-up capital of S$1 while the EntrePass requires at least S$50,000,” Rikvin.com said.

 

Last year, the Singapore government has passed a new set of policies which make the process involved in EntrePass application more complex and rigorous in an effort to filter out those who lack entrepreneurial and professional skills

 

In addition, EntrePass applicants are required to submit a 10-page business plan that must include the goals, operation, nature of business, and other related information which can determine the profitability of a certain business.

 

“A business plan is one of the most important requirements for foreign businessmen applying for EntrePass since it allows the authorities to know if the business is entrepreneurial in nature.  Fortunately, AsiaBiz has professional business plan writers who can assist foreigners in drafting this requirement,” the company spokesman said.

 

Aside from assisting foreign businessmen and companies during the whole registration process, Rikvin.com also provides consultations services which include taxation, book-keeping, formation of offshore companies, and immigration policies for foreign employees.

 

For more information:

Rikvin Pte Ltd

https://www.rikvin.com/

20 Cecil Street, #14-01, Equity Plaza, Singapore 049705  

Main Lines : (65) 6438 8887

Fax : (65) 6438 2436

Email: [email protected]

 

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This entry was posted on Friday, September 17th, 2010 at 7:25 am and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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