Asiabizservices Offers Singapore Company Registration
A company that helps foreign individual, entrepreneur or a business professional who wants to setup a Singapore company as an individual.
by rubyeana maliticus Monday, January 03, 2011
As a tax resident, the tax authorities of Singapore indulge a private limited company to tax exemptions on its first three years of assessment following its incorporation. Companies are exempted to pay corporate taxes for the first accumulated S$100,000 revenues. A flat rate of 17% is charged against revenues soaring above S$300,001. A half of that rate is levied against the next S$200,000 revenues after the S$100,000 tax exemption.
To form a private limited, the Companies Act of Singapore requires three independent individuals to satisfy three different positions. These positions according to Chi Han, Asiabiz Services’ business analyst, are resident director, shareholder, and company secretary.
“A shareholder may be foreigner or local and is not required to relocate to Singapore to fulfill managerial obligations unless a director’s position is awarded to him or her,” Han begins to cite the requirements of each position. She adds that a “shareholder may number up to fifty and may take advantage of a tourist visa or long-term visiting visa to stay in Singapore and do the necessary functions expected of him or her.”
Both the company secretary and resident director are expected to maintain a principal residence in Singapore. This means that both of them must obtain an Employment pass to relocate to Singapore to consummate their positions, should they be foreigners and hence satisfy the ordinary residence required by law.
“An ordinary residence means being either a Singaporean citizen or Permanent Resident,” explains Han, adding that a resident director is the head of all directors and all of which may count to unlimited number and are natural individuals.
Asiabiz Services provides nominee director service for foreign investors who cannot immediately produce a resident director. Chi expounds that foreign companies employ such service temporarily or on a long-term basis relative to the mutual agreement.
Han explains further, “Temporary term of nominee director is activated the moment the company is registered with ACRA using our nominee director, and ends upon procurement of an Employment or Entrepreneur pass by the foreign investor to fill the position.”
Investors who do not see relocation to Singapore in the near future may continue to avail the nominee director service of Asiabiz Services. However, Han reminds that the service is only to satisfy the statutory requirements of Companies Act and does not hold the nominee director responsible for anything related to the company.
Other specializations of Asiabiz Services are nominee shareholder and agent, application of working visas, and assistance in compliance with annual requirements of corporations.
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
Singapore Company Formation Service, We provide company registration,incorporation, immigration, accounting and taxation services to entrepreneurs and businesses worldwide.
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