Rikvin Advises On Which Steps to Take Before Forming a Company
by Jason King Sunday, January 09, 2011
Prior to the presentation of the basic guide, Rikvin emphasized the two major reasons why it is business wise to set up a new company in Singapore.
“The Zero Corporate Tax for startup business, and with the Government of Singapore encouraging foreign Entrepreneurs to set up their business operation in Singapore with open arms and full generosity and assuring the absence of red tape and bureaucracy, it has never been a better time than now,” says Rikvin.
Choosing the type of business structure is the first step presented to local and foreign entrepreneurs. Singapore business structures include Singapore Sole Proprietorship, a Limited Liability Partnership or a Private Limited Company, Subsidiary Office, Brach Office and Representative Office. In Singapore, most companies are incorporated as Private Limited Companies, which are usually registered with the Accounting & Corporate Regulatory Authority (ACRA).
Next, Rikvin presented the basic requirements of business registration: The business must have at least one shareholder, one resident director and one company secretary, minimum initial paid-up share capital of $1 and registered office address located in Singapore.
Work visa was also included in the presentation. Two of the most common work visas are Employment Pass, which is for foreigners with college diploma, or EntrePass, which is for people who lack a college degree but has strong entrepreneurial skills and background.
“Note that you need to engage a business registration firm to proceed with incorporation. This is in compliance with Singapore’s corporate law that does not allow foreign individuals or entities to self-incorporate a Singapore corporation,” Rikvin concluded.
About the Publisher:
Rikvin has successfully encouraged hundreds of both foreign and local entrepreneurs to form a Singapore company. The firm provides a complete corporate solution under one roof for which includes assistance to Start a Singapore Company, with the opening of corporate accounts, business registration including accounting, tax, immigration related to work passes visa and compliance services in Singapore. The firm has also helped encourage foreigners to register a Singapore company.
Our office is located at Raffles Place, in the heart of the Singapore business district. ("CBD") If you're in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours.
Rikvin PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines: (65) 6438 8887
Fax: (65) 6438 2436
Rikvin provides Singapore Company Registration service including securing your Singapore Employment Pass and Singapore EntrePass Visa for Singapore Business Migration.
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