Asiabizservices Talks About Singapore Company Registration Requirements 

Recognized as the most ideal investment center in Asia Pacific, Singapore takes pride in its robust economy and efficient trading policies.

by Ashley Varghese Tuesday, November 30, 2010
Foreign companies and individuals who wish to expand their business overseas are mostly encouraged to register a company in Singapore, a small city-state in Southeast Asia and where business is thriving. Recognized as the most ideal investment center in Asia Pacific, Singapore takes pride in its robust economy and efficient trading policies.

In an interview with leading company registration firm, Asiabizservices provided the basic Singapore company registration requirements particularly for foreign companies. Foremost, an approval of the corporate name from ACRA must be sought. After that, the necessary documents are then filed electronically with ACRA to commence with the registration.

Included in the documents are a certified copy of the corporation’s Certificate of Incorporation sent by ACRA through an e-mail, a certified copy of the corporation’s Charters, Statutes, or Memorandum and Articles of Association or any instrument detailing the nature of the corporation’s constitution or structure, a Memorandum of Appointment of agents along with their affidavit, and a notice of location of the corporation’s registered office in Singapore.

In the event of alterations such as a change of corporate’s name, business address, name of appointees, directors, shareholders and their respective residential addresses, a corresponding Certificate of Change must also be furnished to ACRA.

Asiabizservices says that contained in the Memorandum of Appointment are the basic information of at least 2 agents appointed by the company and who shall be natural persons of legal age and capacity and must be residing ordinarily in Singapore.

“These appointed agents are responsible for the execution of all acts and matters relating to business operations as allowed by the Companies Act and which are decided upon by the foreign company.”

Would there be any liabilities imposed upon on the foreign company for any contravention, the same agents are personally accountable, Asiabizservices adds.

Generally, foreign companies are registered as limited liability company in Singapore. During the submission of information to ACRA, the involved investors are obliged to submit documents pertaining to the proposed name of the LLP together with its principal activities and registered address, the name and basic information of the resident manager, and the name and basic information of each partner if the partner is a corporate entity.

To continue, Asiabizservices cites, “documents bearing the approved name of the company, its registration number, date of registration, registered address, country of incorporation, and basic information of the authorized representative, if applicable shall be submitted to ACRA.”

Prescribed in the LLP Act is the appointment of at least 1 local manager who shall be responsible for all acts and decisions executed in behalf of the LLP pertaining to annual declaration of solvency or insolvency, and the publication of name and its limited liability, and the registration of any alterations in the particulars of the limited liability partnership.

In Singapore, it is a duty of every company to prepare its financial statement which is filed with ACRA within 2 months from the date of the Annual General Meeting of the company. It should likewise comply with annual filing of requirements and inform ACRA of any changes in the particulars of its directors, change of capital, or amendments of its constitution. Even a change of local agent ought to be reported.

About the Publisher:

For many years, Asiabizservices has served the community by taking charge of Singapore company incorporation, processing the necessary working visas of entrepreneurs or employees, and providing services such as accounting, secretarial and statutory compliance with certain requirements.

AsiaBiz is a company that provides Singapore company registration services to local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation law, Singapore accounting services, book keeping requirements, and other compliance matters stated under the Singapore law.

For more information:
address: 120 Telok Ayer Street Singapore 068589
phone: +6563034614

0    submitted by Ashley Varghese
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