Asiabizservices Advices When to Incorporate a Company 

Through the virtue of a labor pass such as Employment or Dependant pass, foreigners are allowed to be appointed as a resident director, defined by Singapore’s Company Act as someone who is either be citizen, or a permanent resident, or eligible employee/businessman.

by Ashley Varghese Saturday, December 25, 2010
After the global recession, the world saw Singapore pioneering Asia’s initiative in recovery. Year 2010 started prolific to its market it delighted the Prime Minister to announce Singapore’s GDP growth of 18.6% in the third quarter.

“Financial accountability of shareholders is not among the features of a private limited for they are only held liable for how much unpaid shares they contracted in that company.” Hence, unlike other business structures, the personal assets including liquid are not subject for seizure or foreclosure in case of unfortunate events.

Cloaked with a legal trait, private limited companies in Singapore are deemed as tax residents and are thus, privileged with tax exemptions and incentives. However, while this alone could already attract investors, there are other considerations essential of weighing in before the appropriate time of forming a company of such structure is ascertained.

Among them is the person behind the resident director’s position. Minimum requirement defines the composition of a private limited to compose three separate individuals to earn respectively the title of a shareholder, resident director, and company secretary.

Through the virtue of a labor pass such as Employment or Dependant pass, foreigners are allowed to be appointed as a resident director, defined by Singapore’s Company Act as someone who is either be citizen, or a permanent resident, or eligible employee/businessman.

Another crucial consideration is the annual requirements of private limited. Asiabizservices says that most companies, foreign-owned in particular, rely on professional services offered by an independent company in complying with those requirements.

“Asiabizservices provides solutions to corporate issues and responsibilities,” beams a corporate secretary, claiming that her expertise has best been seen through Asiabizservices. She states yonder, “we assist companies in preparing their financial statements including comprehensive income, director’s report, annual tax returns, bookkeeping, and payroll services.”

Should necessity arise, Asiabizservices offers nominee services to occupy confidential positions such as a resident director, shareholder, or agent.

Pondering upon these essentials, investors can register a private limited company at anytime the requirements are satisfied. Asiabizservices could be of special help.


About the Publisher:

Asiabizservices offers one-stop business solutions to companies, particularly, those that are managed and owned by foreign investors. Since its inception, Asiabizservices has successfully helped foreign entrepreneurs form a Singapore company. Among its specializations are Singapore company setup, corporate services, accounting services, nominee services, company registration, whether as a sole proprietorship, private limited, limited liability partnership; offshore company formation, incorporation of foreign companies either as a branch or subsidiary office, accounting services including payroll preparation and more.

Asiabizservices is the leading provider of Singapore Company Incorporation services and has successfully helped thousands of both local and foreign entrepreneurs incorporate a Singapore Company. It also provides chartered secretarial services.


For more information visit:

AsiaBizServices PTE LTD
Address: 120 Telok Ayer Street Singapore 068589
Phone: +6563034614
Email: sales@asiabizservices.com
Website: http://www.asiabizservices.com/

0    submitted by Ashley Varghese
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