Asiabiz Services Assists In Registration of A Private Limited Company and Provides Nominee Services 

A private limited company can be limited by shares. Too, it can be formed even by one shareholder that can be a natural person, another corporate entity or a business firm.

by Ashley Varghese Friday, February 04, 2011
Businessmen incorporating a company may embrace the private limited structure if the number of shareholder is limited to fifty. Also, all shareholders are restricted from selling their shares to the public through a stock exchange, hence the ‘private’ clause.

Should there be a necessity to sell shares, the shareholder ought to first offer the sale to a fellow shareholder during a board meeting. Likewise, anybody from the board must buy the shares for sale; otherwise, a third party is inevitable.

A private limited company can be limited by shares. Too, it can be formed even by one shareholder that can be a natural person, another corporate entity or a business firm. In Singapore, and just like anywhere else, there is no requisite for a shareholder to be a resident.

Asiabiz Services is a solution creator and innovator for businesses. Singapore Companies Act prescribes that besides the shareholder, a resident director is necessary. Asiabiz says that “a resident director is someone of ordinary residence”, referring to the locals and permanent residents.

“Because Singapore permits foreign ownership and administration of a business, a foreign national may be appointed as the resident director by obtaining the necessary Employment pass.”

Another position to be filled up upon incorporation is the company secretary that can be a local or a foreign national.

Asiabiz processes the incorporation of a private limited company catering to the needs of foreign companies and investors. ACRA restricts the procedure by stipulating that only those who possess a Singapore Personal Access can be granted access to BizFile, an initiative of ACRA where registration takes place.

As a solution provider, Asiabiz offers nominee services to fill up the position of a resident director and a shareholder.

“A nominee director is to satisfy the statutory compliance and proceed with the incorporation. It can be revoked upon the release of the Employment pass for the appointed director. It can also be on a long-term basis if the principal investor or major stock holder is not enthusiastic about relocating to Singapore.”

In the latter case, the investor may take advantage of the Long-term Visitation pass to stay in Singapore longer to tend to his company.

Meanwhile, a nominee shareholder is attractive among foreigners seeking for identity confidentiality. During the incorporation, ACRA shall require a Memorandum and Articles of Association indicated on which are the personal details of every director, shareholder, and company secretary.

“A nominee shareholder holds shares in trust in favor of the beneficiary owner,” says Asiabiz in conclusion.

Asiabiz has been in the industry since 1996. It has since helped thousands of companies and individuals in their business needs.

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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