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Company Registration in Singapore

Introduction Every time a company comes into existence, it needs to register in order to function within a certain area. Company registrations help determine the jurisdiction under which the company is going to work and function under. All the rules relating to organisations and their functioning are valid on a company whenever it registers under their jurisdiction. Today, new companies are being brought up every day. With registrations being done on a similar basis, it has become important to follow all the necessary rules and adhere to the regulations being set by a particular country or a city-state.

Rules regarding company registration Today, many businesses want to smoothly complete their company registration Singapore, being a prime spot to do so. This is because of the number of benefits which the government of the city-state of Singapore offers in terms of business and finance. With multiple advantages which include the exemptions of taxes, companies benefit a great deal by registering themselves with the city-state of Singapore. As there are such advantages, Singapore also has its own set of rules regarding the registration of a company. These rules must be strictly followed if one wants to open a business in the island of Singapore. These rules make sure that all business and companies adhere to a strict code of conduct while doing their day to day operations from the city-state itself.

The rules regarding the registration of any Singaporean company have been set according to the Companies Act (Chapter 50). ACRA or the Accounting and Corporate Regulatory Authority is responsible for supervising the registration of every company. ACRA is also functioning as the company registrar in Singapore. All the rules and regulations which have been laid down by them most be followed if one decides to bring up a new company or even shift their existing one into Singapore. All of these processes can be quite problematic and tiresome, unless they tie up with any registration agent. With a proper agent, one can carry out the entire registration process with ease. Requirements To register a certain company, one must produce certain documents and reports before going forward. Details regarding the name of the business company, their activities, the address of the company in Singapore, details about the shareholders, company secretary, and individual documents such as identity cards, etc. Post registration duties There are a number of other details and operations one needs to complete after a company gets registered with the jurisdiction of Singapore. Like, obtaining the company’s business profile by making an online request at a nominal cost. Having a corporate bank account in Singapore becomes mandatory after company resisters under their jurisdiction. After this, business licences and other permits can be obtained by the company after registration. Moreover, one also needs to register their company with the Goods and Services Tax, if their yearly turnover is over $1 million.

Thus, one can easily benefit for the various facilities from a business registration Singapore with government offering every company with advantages which registers in their city-state. One simply needs to follow a few rules before they can finally become an official company in Singapore.