The Easy Way to Set Up Your Company

29 Jun

Overseas offshore company formation in Singapore is the easiest way to start a new business or begin operating your existing one. The beauty of the process is that it is as easy. As it happens, in Singapore, one needs not even leave the country to start an offshore company, but one can easily set up the same with their own money.

Before setting up a company in Singapore

One needs to understand that offshore is synonymous with secrecy. If you are planning to set up a company here, it is best to talk with your local tax professional and a good accountant. It is because setting up an offshore company could come which could cause considerable to the businessperson for offshore company setup, the better since this gives him time to see if the tax laws and regulations in Singapore are the same as the ones in his country.

To start the new company

Because the process of formation is quite simple, one also needs to be aware of some formal paperwork that needs to make. Since there is no need for an official set of incorporation papers for offshore company formation, it is advisable to have an address proof that could prove the country of origin of the individual concerned. Also, if the business person has a home address in Singapore, he needs to present his current Singapore passport along with address proof. To start the new company, one needs to sign a Memorandum and Articles of Association.

The Memorandum and Articles of Association are the primary legal document involved in the formation of a Singapore limited company

It signed by the company’s legal representative or officer in the presence of an authorised witness. One must appoint a registered agent. After selecting the agent, one needs to put up the company’s name and address on the official company registry. It is advisable to do this so that the register can be updated, and one is the record of the company’s address. The Company Registration Form is one of the forms that one must fill out. The Registry of Companies can obtain the original form. An Authorised Officer needed for offshore LLC company formation about the structure and its contents.

What is the procedure to open a business account

Once all the formalities for offshore company formation agents are over, the businessperson can now register a company in Singapore. He should send a copy of the registration form to the local Business Development Board. One also needs to submit certain documents like bank statements, copies of the Nominated Persons and the Annual Financial Statements.

One must ensure that the company name is always a jumble of letters and numbers, as it is a requirement of the law. Otherwise, one risks the ire of the local authorities and must submit a public notice for the same.

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