Incorporate a Singapore Company With Asiabizservices
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Incorporate a Singapore Company With Asiabizservices “There are three options to incorporate a company in Singapore,” says a business consultant of Asiabiz Services, “two options offer relocation packages and the other is to continue living offshore.” In all these choices however, foreign nationals cannot personally pursue them because only those who are eligible by having a Singapore Personal Access and NRIC cards can transact in Singapore. ACRA, the city-state’s governing body of business organizations and company registrar directs foreign companies and or investors to engage the services of professional business registration service providers. Asiabiz says: “In relocation option, there are two options depending on the kind of labor pass applied.” Singapore’s Ministry of Manpower creates Entrepreneur pass and Employment pass relative to a foreign applicant’s qualifications. “In Entrepreneur pass setup , before the company is registered, the labor pass is first applied,” elucidates Asiabiz, “the Entrepreneur pass is the decisive factor whether or not a business can be registered.” Unlike the other labor pass, the Entrepreneur pass is exclusive to foreign nationals who are successful in entrepreneurship without the Bachelor’s degree. Asiabiz continues: “The Ministry of Manpower requires that a 10-page business proposal is submitted along with curriculum vitae and other pertinent documents. The business proposal shall discuss the feasibility of a business. Its goals, products or services, and marketing strategies are highlighted. Meanwhile, curriculum vitae shall detail the entrepreneurial skills of the foreign entrepreneur.” Another requirement is the capital of the business. Asiabiz says that for Entrepreneur pass, the minimum paid-up capital is S$50,000. After the Ministry has approved the Entrepreneur pass, Asiabiz shall proceed with the company registration.
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To incorporate a Singapore Company, Asiabizservices guides you through every step, respond promptly, and closely follow your application progress to ensure that your case is presented in the best possible manner that it deserves.
Transcript of Incorporate a Singapore Company With Asiabizservices
Incorporate a Singapore Company With Asiabizservices“There are three options to incorporate a company in Singapore,” says a business consultant of Asiabiz Services, “two options offer relocation packages and the other is to continue living offshore.”
In all these choices however, foreign nationals cannot personally pursue them because only those who are eligible by having a Singapore Personal Access and NRIC cards can transact in Singapore.
ACRA, the city-state’s governing body of business organizations and company registrar directs foreign companies and or investors to engage the services of professional business registration service providers.
Asiabiz says: “In relocation option, there are two options depending on the kind of labor pass applied.”
Singapore’s Ministry of Manpower creates Entrepreneur pass and Employment pass relative to a foreign applicant’s qualifications.
“In Entrepreneur pass setup , before the company is registered, the labor pass is first applied,” elucidates Asiabiz, “the Entrepreneur pass is the decisive factor whether or not a business can be registered.”
Unlike the other labor pass, the Entrepreneur pass is exclusive to foreign nationals who are successful in entrepreneurship without the Bachelor’s degree.
Asiabiz continues: “The Ministry of Manpower requires that a 10-page business proposal is submitted along with curriculum vitae and other pertinent documents. The business proposal shall discuss the feasibility of a business. Its goals, products or services, and marketing strategies are highlighted. Meanwhile, curriculum vitae shall detail the entrepreneurial skills of the foreign entrepreneur.”
Another requirement is the capital of the business. Asiabiz says that for Entrepreneur pass, the minimum paid-up capital is S$50,000.
After the Ministry has approved the Entrepreneur pass, Asiabiz shall proceed with the company registration.
In Employment pass setup on the other hand, the minimum capital is set at S$1. Asiabiz also clarifies that: “Before the Employment pass is applied, the company is first incorporated. In this setup also, Asiabiz shall offer its nominee director service temporarily so as to proceed with the registration.”
The Companies Act of Singapore stipulates that during registration, there at least exist one shareholder that can be individual or corporate entity, a resident director, and a company secretary.
After the registration, the Employment pass is applied. Thereafter, the nominee directorship is transferred to the labor pass holder.
Moving on, for foreign investors who cannot immediately relocate to Singapore to occupy the position of a resident director, they can employ the nominee director service of Asiabiz for a long-term agreement.
The investor can still stay offshore and visit Singapore to monitor activities and to tend to his business.
For more information, visit:www . asiabizservices . com Asiabiz Services Pte Ltd (see location map)120 Telok Ayer StreetSingapore 068589Phone: (+65) 6303 4614Fax: (+65) 6303 2670E-mail: [email protected]
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