If you want to start a business you must look for incorporation services Singapore. Why? To get your business registered and you as an owner form a legal entity to conduct business operations. Company incorporation is governed by the Accounting and Corporate Regulatory Authority or ACRA, under Singapore Companies Act.
What are the benefits of business incorporation in Singapore?
Singapore is considered to be the fourth largest International Financial Center. The two most important reasons for incorporating a business are limiting individual liability and protecting personal assets. Also, it allows business owners to seek financial help from investors. Some of the benefits of company incorporation in Singapore are:
Easy and Convenient Process
The process of incorporating a business in Singapore is simple and inexpensive. This attracts several individuals around the world to set up a business here. Any individual over 18 years of age can apply for the incorporation. For foreigners, one local Singaporean should be nominated as director to register themselves in Singapore. The registration process is completed within one to three working days. These companies can conveniently perform business operations without a physical presence in Singapore.
Generous Capital for registration
To register a company in Singapore, the minimum capital required is S$1. Though this capital requirement varies on the type of business activity, industry, and lots more. At Aspire, our experts offer incorporation services Singapore for startups, with minimum charges.
Tax benefits
When your company is registered in Singapore, you can enjoy corporate income tax rebates and tax exemption schemes under the government of Singapore. The corporate income tax rate is 0-17%, well the personal income tax rate is 0-22%. Dividends and capital gains are tax-free.
Property ownership
Once you get your business incorporated in Singapore, you can avoid future disruptions related to the ownership of assets or property. In other cases, a former employer or shareholder may assert claims against you.
Protect your business name
If you are looking forward to early company incorporation, you are protecting your business name. Also, add a layer of security to the name by registering it as a trademark. Only when you are incorporated, you can open business account online at Aspire.
No double taxation
Singapore has ensured the businesses need to be taxed only when transactions are done. For that, they have developed Unilateral Tax Credits so that these sectors avoid double taxation.
What documents do you need?
For registering a company in Singapore you need to have the following:
- A unique company name.
- One or more directors above 18 years. The individual must not be disqualified from directorship in Singapore.
- One more resident director. One among them must be a local resident.
- 1 to 50 shareholders.
- A minimum paid-up capital of S$1.
- A registered address in Singapore
- One company secretary
- An auditor
Foreigners need to hire a local director to file on their behalf. It is not necessary to travel to Singapore or immediately require a Visa for incorporation. These are Performed online and your physical presence is not mandatory instead but some banks may ask you to visit a branch while setting up a corporate bank account. This is not the case for Aspire. We complete the entire process online.
After incorporation you receive a certificate of incorporation, a business profile, can open a corporate bank account, and apply for business licenses.
What do we do?
At Aspire, our experts offer you guidance throughout the entire incorporation process. Moreover, it is performed online and you can complete the process from anywhere and at any time.
To start with, you need to do the following:
- Select the package that shoots your industry type and business requirements
- Get proper guidance from our specialists.
- We create legal documents and help in filing the paperwork on your behalf.
- Once your company is registered, and you receive the certificate of incorporation, we move forward to making a business account for you.
- This business account is associated with all your financial requirements. It takes time and money to perform banking operations. You can start accepting payments from customers and enjoy the benefits of Corporate cards, rewards, and Credit solutions.
While looking for incorporation Services Singapore, try Aspire to provide the best solution and proper guidance.
