Asiabiz Services Assists Foreign Entrepreneurs In Registering A Limited Liability Company 

Limited Liability Companies exist in their own right. This means the company's finances are separate from the personal finances of their owners.

by Nijel Wu Wednesday, February 23, 2011
A limited liability company features elements of partnership and corporate structures. As a legal form of a company, it bestows limited liability among its members. Nonetheless, although an LLC—its acronym—is a business entity enjoying its own legal personality, it is in itself an unincorporated corporation.

Asiabiz Services says that the principal trait the LLC shares with a corporation is the limited liability, while the principal trait it shares with a partnership is the pass-through income taxation.

As a creator and innovator of business solutions, Asiabiz processes incorporation and business registration procedure in behalf of foreign companies and entrepreneurs.

“It is noteworthy to imply that the limited liability feature of LLC does not absolutely free members from accountability,” says one of the business consultants of Asiabiz, referring to courts that can unveil such protection cloak in the presence of fraud or misrepresentation.

Each member of the LLC is responsible for his own decision made in lieu of the business. All other members are not accountable for anything misfortunate that may befall from a fellow member’s misconduct, negligence, or unwise decisions.

“The members of a limited liability company may be natural persons or another corporate entity. There is no limit to their number in its constitution.”

Should another business or corporate entity become a member, its company registration details are included among the documents required during registration.

“Like all other business entities, the initial step to registration is approval of a business name,” chimes Asiabiz’s business consultant.

A name for the LLC is proposed to ACRA for approval. After which, a Certificate of Business Name is issued after careful evaluation of the proposed business name and after ensuring that the same does not violate trademarks and principles of morals, and does not resemble another business already registered or reserved.

If the LLC is entirely owned by foreign members, an appointment of a resident director is necessary. According to Asiabiz, a resident director could be any of the locals whether a natural citizen or a permanent resident. It could also be bestowed upon a foreign national by obtaining an Employment pass after the incorporation.

Another requirement upon its incorporation phase is the company secretary appointed from among the locals or foreign nationals by virtue of a labor pass.

Other business solutions offered by Asiabiz include nominee services, accounting services such as bookkeeping and filing of annual returns and preparation of financial accounts.

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

A company that helps foreign individual, entrepreneur or a business professional who wants to setup a Singapore company as an individual.

General | Categories: financial, business
0    submitted by Nijel Wu
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