Handy checklist foreign entrepreneurs need for incorporating company in Singapore

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Handy checklist foreign entrepreneurs need for
incorporating company in Singapore
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• If you have decided to incorporate a company in
  Singapore, congratulations!
• Incorporating a company in Singapore is one of
  the best decisions one can make in todays global
  economy and this does definitely open doors to a
  lot of growth prospects.
• Once you have decided to incorporate a company in
  Singapore, the next step in the process of
  incorporating a Singapore company is to prepare
  yourself for various things that are required.
• In this post, we have put together a handy
  checklist of the various things you need when
  registering company in Singapore. Using this list
  you will be able to prepare yourself for the
  process. All that you need is to tick mark the
  items and you can be rest assured that youre not
  missing anything. 

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1) Type of company incorporation

• There are different types of Singapore company
  incorporation that a foreigner can choose from.
  Make sure that you know which one youre going to
  adopt (based on your needs and requirements).  
• 2) Resident director
• According to Singapore Companies Act, a minimum
  of one resident director (a resident is defined
  as a Singapore Citizen, a Singaporean Permanent
  Resident, or a person who has been issued an
  Entre-pass, Employment Pass, or Dependent Pass)
  is mandatory. Directors must be at least 18 years
  of age and must not be bankrupt or convicted for
  any malpractice in the past.  

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3) Company name

• According to the Act, the name must be approved
  before incorporation of the Singapore company can
  occur. One can register a Singapore company only
  if the company name is approved.  
• 4) Registered Business Address
• In order to register a Singapore company, you
  must provide a local Singapore address as the
  registered address of the company. The address
  much be a commercial address or home office
  address approved by the authorities. 

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5) Work pass

• If you are planning to relocate to Singapore for
  operating the company, you are required to obtain
  an Employment Pass or Entrepreneur Pass once you
  have obtained your work pass, you can act as the
  local resident director of your Singapore
  company.  
• 6) Shareholders
• A Singapore private limited company can have a
  minimum of 1 and maximum of 50 shareholders. A
  director and shareholder can be the same or a
  different person. The shareholder can be a person
  or another legal entity such as another company
  or trust. 100 foreign shareholding is allowed.
  The minimum share capital is 1 SGD. Make sure
  that you have worked out your companys share
  allotment procedure before going for company
  incorporation in Singapore. 

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7) Qualified professional firm

• Singapore law does not allow foreign individuals
  or entities to self-register a company. It is
  mandatory to engage a qualified professional firm
  to assist you in the process of registering
  company in Singapore. This part is extremely
  crucial.  Its Important to understand that the
  firm you hire for your company incorporation
  should be able to deliver high-quality
  incorporation services and choosing a wrong
  company can cause serious business and personal
  losses. 

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8) Required documents

• There is a set of documents you are required to
  submit to company registrar when incorporating
  Singapore company. These documents will be
  collected from you by your incorporation
  provider 
• For non-residents Copy of passport, overseas
• residential address proof, and other
  Know-Your-Client
• (KYC) information such as a bank reference
  letter,
• personal and business profile and other
  essential
• identification documents
• For Singapore residents Copy of Singapore
  identity
• card
• If the shareholder is a corporate entity Copy
  of
• registration documents such as Certificate of
• Incorporation and Constitution.

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• What to do if you are short of required things
• Having read the checklist, its possible that you
  find youre not having all the items that are
  needed. While there is no way you can bypass
  above items in order to successfully register
  company in Singapore, a qualified Singapore
  company incorporation firm can help you in the
  entire process end-to-end and make sure to have
  everything available to you, including trusted
  local nominee director, share allotment
  consultancy, registered Singapore address and 
  company constitution formulation.
• Its extremely critical that you choose the
  incorporation provider carefully to ensure a safe
  and smooth company incorporation in Singapore.

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• Precursor has years of experience, a panel of
  company incorporation experts and a large number
  of satisfied clients that testifies the highest
  quality, up-to-mark company incorporation
  services in Singapore that we provide.
• For More information visit this link
• http//precursor.com.sg/handy-checklist-foreign-en
  trepreneurs-need-incorporating-company-singapore/
  

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