Asiabizservices Offers Singapore Company Setup Services 

In case a foreign investor decides to relocate to Singapore and consummate the resident director position, he may engage Asiabiz’ nominee director service.

by Ashley Varghese Saturday, January 08, 2011
Among the business structures welcome in Singapore, the private limited company prevails to be the favorite. Authorities regard it similarly they regard a legal person. A Singapore private limited company has legal rights such as engaging in legal transactions, accruing profits within the range of corporate and contracting losses. And when it does accumulate accountability, the company itself can be brought before a legal court for a legal proceeding.

Simply put, investors are protected from financial liability. When a private limited company becomes insolvent and unable to settle its financial obligations, only its resources are affected in winding up. Investors can walk out freely and engage in another business at anytime.

Asiabiz Services, apart from the company setup service, also provides a Singapore nominee director and nominee shareholder services in case investors fall short of such requirements. One of its business analysts, Chi Han, articulates “a nominee director momentarily fills up the resident director requirement of Companies Act, while the principal investor is still in search for someone qualified to be appointed as the resident director.”

A resident director acts as the head of the company. Bestowed inherently in its position are executive powers. Generally, the principal investor occupies such position as the responsibilities that come with it are serious. Foreigners, who are allowed to own 100% of company shares, are required to obtain an Employment pass so they can relocate to Singapore and run the company as the resident director or one of the directors as there can be unlimited number to the directors of a private limited company.

In case a foreign investor decides to relocate to Singapore and consummate the resident director position, he may engage Asiabiz’ nominee director service.

“In such a case, the nominee director is engaged for statutory requirements of a resident director so the company can be successfully registered with ACRA. After that, we process the Employment pass of the investor and walk him through until he claims the labor pass from the Work Pass Division of the Ministry of Manpower.”

Upon collection of the Employment pass, the directorship is then transferred from the nominee director to the investor.

“A nominee shareholder maintains company shares in trust for the benefit of real owners,” Han continues to divulge the nature of a nominee shareholder, adding that only the name of the nominee shareholder shall appear on the records submitted to ACRA.

Other corporate solutions provided by Asiabiz include business registration and continual compliance with requirements such as bookkeeping, preparation of Financial Statements and Director’s Report, Corporate Annual Tax Return filing, Personal Tax Return filing, , and payroll management.

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

0    submitted by Ashley Varghese
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