Business entities come in different forms. Each has a different set of purposes to fulfill and should operate depending on the nature of the business. The types of business entities that are common in Singapore are sole proprietorship, partnership, limited liability partnership, trust, unit trust, registered business trust and branch of a foreign company
Whether you want to put up one type of business or another, it's important that you know how business registration goes in the country. This will help you ensure a successful Singapore company registration.
For example, companies both resident and non-resident must register with the Accounting and Corporate Regulatory Authority (ACRA), and may be required to present other requirements depending on the nature of their business and the activities they intend to carry out.
If the type of business organization you are registering engage in real estate, education, banking, and fund management, you'll be required to secure a license before you can start your operations. Other types of business organizations that need license to operate are those that deal with activities related to arms and explosives, tourism, telecommunication, and media.
In Singapore companies are of various classifications. According to the Companies Act, companies can be in the form of private companies, public companies, exempt private companies, foreign companies, companies limited by guarantee and unlimited companies. But the most common companies formed in Singapore are companies limited by shares, companies limited by guarantee and unlimited companies.
company formation in Singapore is easy to do regardless of the type of business a person wants to form. All a business applicant needs to do is to prepare the requirements needed and seek the help of a lawyer or an accountant that is expert in company incorporation. These professionals will help applicants do the registration in an efficient and legal manner.
When doing company incorporation Singapore businesses should know that there are instances when an application for business registration is rejected. The Office of the Registrar may do this based on the following grounds: a. the business is formed for unlawful purposes; b. the business will be used against the welfare of the public; c. the business can pose a possible threat to national security. Applications for reconsideration can be submitted not later than 30 days since the day the application for business registration was denied. The Minister for Finance will review the application and its decision is final
Whether you want to put up one type of business or another, it's important that you know how business registration goes in the country. This will help you ensure a successful Singapore company registration.
For example, companies both resident and non-resident must register with the Accounting and Corporate Regulatory Authority (ACRA), and may be required to present other requirements depending on the nature of their business and the activities they intend to carry out.
If the type of business organization you are registering engage in real estate, education, banking, and fund management, you'll be required to secure a license before you can start your operations. Other types of business organizations that need license to operate are those that deal with activities related to arms and explosives, tourism, telecommunication, and media.
In Singapore companies are of various classifications. According to the Companies Act, companies can be in the form of private companies, public companies, exempt private companies, foreign companies, companies limited by guarantee and unlimited companies. But the most common companies formed in Singapore are companies limited by shares, companies limited by guarantee and unlimited companies.
company formation in Singapore is easy to do regardless of the type of business a person wants to form. All a business applicant needs to do is to prepare the requirements needed and seek the help of a lawyer or an accountant that is expert in company incorporation. These professionals will help applicants do the registration in an efficient and legal manner.
When doing company incorporation Singapore businesses should know that there are instances when an application for business registration is rejected. The Office of the Registrar may do this based on the following grounds: a. the business is formed for unlawful purposes; b. the business will be used against the welfare of the public; c. the business can pose a possible threat to national security. Applications for reconsideration can be submitted not later than 30 days since the day the application for business registration was denied. The Minister for Finance will review the application and its decision is final
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Interesting blog, easy to understand about Singapore company incorporation from this blog. It is useful for many business people who want to know about it.
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