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Singapore Company Incorporation Basic Facts

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It is incredibly simple for a foreign company or an overseas entrepreneur to setup a company in Singapore without even visiting the country. It takes about a day or two for the entire process and the business can commence operations almost immediately upon incorporation. However, even though the business registration process is quite simple, it is always advisable to do your homework beforehand and know at least the basic facts regarding Singapore company incorporation so that there are no sudden surprises in store for you. Some of the basic facts you should be aware of are as follows:

1) If you are an individual entrepreneur, you will need to submit your identity proof, any kind of utility bill of your overseas residence and also your passport copies during company registration. You would also have to fill and submit the application forms and provide a Memorandum and Articles of Association. In case of a foreign company entering Singapore, then they would have to provide details regarding the parent company and its current address, proof of incorporation in home country etc.

2) No foreign company or individual can go ahead with the company incorporation procedure in Singapore on their own. They would have to contact a professional incorporation service provider in Singapore itself that will act on their behalf during registration.

3) The Singapore Company being incorporated must have at least one local resident director and one company secretary who is a local resident as well. Therefore this must be arranged for before you apply for company setup. It is possible to use nominee director services from the incorporation service provider you choose to work with in Singapore. They could also provide you with the company secretary services.

4) It is best the foreign business owner do some research on the Singapore office market and obtain a registered business address before company setup. Providing a local business address is mandatory in order to complete the company incorporation procedure in Singapore.

5) The name of the proposed company needs to be approved by the Company Registrar in Singapore before you proceed to actual registration. This takes only about an hour to complete and you need to ensure the name chosen by you is not already in existence. If it is trademarked by someone else, then your application would be rejected and you would need to provide the authorities with an alternate company name.

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