1. legal conditions for the establishment of a company in Singapore?
Each company Singapore must have at least one Director of the Singapore citizens or permanent residents who are in Singapore or who were issued Employment card Pass. Foreign nationals may be appointed as additional Director of local directors. Any person over 18 can act as a Director. But who is bankrupt or the offender in relation to fraud can not be appointed Director. The Director is the Manager of the company. Directors (or Board) overseeing the activities of the company.
A private company needs a minimum of one shareholder. Shareholders may be a resident in Singapore or the foreigners. A foreign company may also be the sole shareholder in the company. Of shareholders as the owner of the company. They usually are not active in the day-to-day operations of the company. Note, 100% foreign equity is allowed in the company in Singapore.
A company Secretary must be a able to multiply and normally is resident in Singapore, that person needs to be appointed within the next 6 months after incorporation. The secretariat worked as the company's executives, who are interested in all respects complied with.
Equity of at least $ 1 is required
Registered company address
Each company should provide taij Singapore to register a company. This address cannot be a post office address.
If you check the requirements carefully, you will see that a foreigner could meet two requirements. That is to become a share holder equity and inclusion.
So in this case we can help you meet all other requirements:
1. we will set up your company in Singapore
2. we will provide a Corporate Secretary for your company
3. we will provide you with a registered office address in Singapore and
4. we will provide you with a nominee director (nominee director) to act as a Director of your company.
2. A Nominee Director?
While 1-3 is quite simple for everyone, we often get questions about Nominee Director. The dictionary meaning of the word Nominee is "a person or organization name a location or a property to be registered even though the real ownership held by another party".
As you can see a Nominee Director Singapore citizens or permanent residents that we only give the same name to meet the legal requirements. More is provided his name as a Director and in addition to a number of records during the process of company formation, Nominee Director is not related to your business.
Some concerns of foreign enterprises or Nominee Director
1. what the Nominee Director can and cannot do?
2. he shall have the right to withdraw any funds from your bank account?
3. He will be taking any business decision? He will intervene in my business?
At the same time Nominee Director also has a concern, such as:
1. If the company is involved in any illegal business in Singapore?
2. If the company does not pay rent Nominee Director on time?
To address the concerns about the compensation agreement was signed between foreign companies and our company as a Nominee Director service provider. The agreement primarily refers to:
1. foreign enterprises will also be listed as directors of the company (Note Singapore are required to have at least one Director who is permanent, but added the number of foreign directors can be specified).
2. foreign directors (that is you) will be responsible for all the activities of the company
3. a foreign Director will ensure compliance with all the laws of Singapore.
4. Nominee Director will not be engaged in any activity of the company
5. the company provide bank statements printed with Nominee Director periodically (this gives a guarantee for Nominee Director that the company is trading correct trades).
3. service company with Nominee Director annually
Appropriate for the foreign company that has no plans to hire a local staff (Singapore citizens) or relocate any employee to Singapore. Company/business in case it will function perfectly in his country, and will make use of the services of Nominee Director from us every year.
Established companies with Employment pass
Appropriate for foreign companies planning to move a qualified professional staff to Singapore to become a Director or senior management. Employees need to have the necessary qualifications, experience, and the company promises to pay the monthly salaries necessary to him. You will still need to use our Nominee services Director in a short period of approximately 3 months. In this phase, the processing of Employment pass for your workers need to be completed. Employees were transferred to then became the Director of the Singapore company.
4. still one more thing to do before we judge. The minimum annual compliance reports and you have to do for your company.
What every Singaporean companies to report each year?
Each company must maintain accounting, store all invoices and receipts the cost for the calculation of profit or loss and the balance sheet at the end of the year. (This activity you can DIY ... especially you have accountant in your country)
-Comply with IRAS: reports financial results and taxable income to Inland Revenue (income tax). As a foreigner, you will not be able to do it yourself as well as you do not have access to the online system for IRAS. You will need your help to do it on your behalf.
-Comply with the ACRA: conduct of shareholders and report problems in your company to register with the competent authorities. As a foreigner, you will not be able to do it yourself as well as you do not have access to the online system ACRA. You will need your help to do it on your behalf.