On Forming A Singapore Company

By Author: rikvinshore
Total Articles: 43
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Choosing Singapore to be one of the location of your business is a good idea. It is truly a safe, easy going and least complicated place to work in. Deciding to form a Singapore Limited Liability is a good idea.You will be asking if what are the essential rules and policies to be followed in forming Limited Liability company in Singapore. Given below are some of the ideas to be remembered so you will understand the whole process much better.

The two types of Singapore Limited Liability Company are the Private Limited Company and Public Limited Company. While the former has quite lenient rules, when the company develops and converts into a Public Limited Company, the rules become more stringent as it involves the public at large. Hence, it becomes the government's responsibility to safeguard their rights.

Private Limited Liability Company is always best for new and small businesses. The first step that is needed in forming a Singapore Limited Company is to have a good name and have it approved. Registration of the company with all the legal documents must be done next after the first step.If you are not able to ...
... do all of it, you can have an agent to do all the work. Registering, provided all the documents are complete, takes only a few hours.

The documents that are needed and much required by the law are the following; a brief detail about the company's proposed activities, details of the Directors and Shareholders, the supposed Registered Address of the company and the details of the Company Secretary. Residential address proof and passport copies are also required for the fulfilment of the KYC norms. If ever there is one shareholder in the company, then the registration details must be attached.

All, except one director can be foreign nationals and it also doesn't matter if they are staying abroad. But, at least one of them needs to be a Singapore citizen or a permanent resident of Singapore or having a Singapore Work Pass.

Businesses like Finance and Travel are the only business required to prepare papers and licenses before proceeding on the operation of the business.

Profits and loss of the company is always recorded and also of the Directors with single taxation only. Income tax is not applicable to Directors

Simultaneously, the debts of a Singapore Limited Liability Company is always limited to the company and no one will be held personally liable for it.

It is now exempted from GST. StilI, IT rate will be fix at a minimum of 9% and the maximum of ceiling of 18%.And also there is no Capital Gain Tax levied.

As a Singapore Limited Liability Company is treated to be an independent body, its management and ownership can be shifted to others in a smooth way without hindering the operations.

So from every point of view, setting up of a Singapore Limited Liability Company is quite advantageous and a wisely decision.

Rikvin offers business solutions for local and offshore investors and entrepreneurs. Rikvin specializes in Singapore company registration, Singapore company setup, processing of work visas and services, as the candidate instructor, as a shareholder candidate test items, accounting, payroll and secretarial services.

Since 1995, Rikvin serves hundreds of business management and accounting services to Singapore with sophisticated software to manage payroll account pays even the intricate ones. In its payroll services, Rikvin offers its clients the confidence in the processing of each transaction. Its bookkeepers uphold competency. Most of all, Rikvin's beliefs follow the rules and have similar vision like the expected improvements.

Rikvin has effectively facilitated both non-resident and resident financiers build business firms in Singapore.
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