Why Registering a Company Online Now Becomes Easier

Published on: 10 October 2020 Last Updated on: 25 November 2023

Are you looking for business opportunities in Singapore? This is an excellent choice because Singapore ranks 2^nd in the world, in the ease of doing business. Singapore is also one of the most advanced financial centers in the world, acting as a headquarters for thousands of global brands.

The ease of doing business starts right at the beginning stage of registration. Foreigners can easily register a company in Singapore, as well as get an employment pass. Singapore has outdone other competitors in Asia with entirely paperless business registration. Company registration is done in 1.5 days if the documentation for registration is right.

Benefits of Online Registration

Register from anywhere in the world

You don’t have to come to Singapore to register a company. You can submit all the documentation online. Better yet, you can use a company incorporation Singapore service to register your company. This service is offered by a team of professionals who are conversant with the documentation and procedures required to register a company.

Affordable

Paperless registration translates into lower costs for registration. Paid-up capital is only SGD 1.00 which is very friendly for small businesses.

Fast

Online processing has allowed cutting short the duration needed for company registration to 1.5 days. You can start your business operations within a week after landing in Singapore.

Who Can Register a Company in Singapore?

Both Singaporean nationals and foreigners are allowed to register private limited companies in Singapore. Shareholders can be individuals or companies. Singapore is one of the few countries that allow 100% foreign shareholding. However, bankrupt people and those with criminal backgrounds are not allowed to operate businesses in Singapore.

A foreigner who wants to register a company in Singapore should;

Have at least one director who is a Singapore resident. This could be a Singapore citizen, or a person holding a permanent resident visa, or someone holding an employment pass.
Hire a filing service for company registration. This is a team of professionals, usually lawyers, accountants, or company secretaries. They are familiar with the documentation and procedures needed to register a company correctly and in a short time.

What Are the Procedures in Company Registration?

Step 1 – Name Approval

Companies in Singapore are registered by the Accounting & Corporate Regulatory Authority (ACRA). You should submit at least 3 names for approval. Guidelines for company names include;

No vulgar or offensive wording
The name should not already be in use by another entity or be part of another company’s trademark.
If the name includes words like bank, media, finance, or educational it shall require further approvals by the bodies regulating these sectors.

ACRA reserves the approved name for 60 days, with a further 60 days extension.

Step 2 – Document Preparation

The required documentation for a private limited company registration includes;

The name approved by ACRA
Description of a maximum of 2 intended business activities in Singapore
The registered office address Singapore or the physical address of the company offices. Consultants can operate from a residential address but must show landlord consent.
Particulars of shareholders. Foreign shareholders are required to supply a copy of their passport and proof of residence in their country. Company shareholders must submit a copy of their Articles of Association and Memorandum of Association.
Particulars of the Ultimate Beneficial Owners. These are shareholders with more than 25% ownership in any level of shareholding
Particulars of directors
Particulars of a data protection officer to comply with the requirements of the Personal Data Protection Act 2012 (PDPA)
Particulars of the company secretary. This role should be appointed within 6 months of registration. The company secretary can be a filing agent. This is often offered as part of the package in business registration services.
Paid-up capital. The initial paid-up capital is SGD 1. This can be increased after registration

KYC documentation

Singapore has strict anti-money laundering laws, which require Know-Your-Customer guidelines to be followed when registering a company. Individuals must show proof of nationality, proof of residence, and describe their professional or entrepreneurial background. Corporate shareholders must show a Certificate of Incumbency if they are offshore companies registered in places like the Caymans.

Step-3 Submitting the Documents

ACRA maintains an online portal on which the documentation is submitted for registration. The Certificate of Incorporation is generated electronically within 1.5 days. But company registration can take as long as 2 months if further approvals are needed from industry regulators.

Why Use a Business Registration Service?

Get a full corporate kit – You get a package that helps you start operating as soon as possible. This includes the Certificate of Incorporation, Company stamp, Memorandum and articles of Association, and the minutes of the first board meeting.
Help in the processing of an employment visa if you want to relocate to Singapore
Help in opening a corporate bank account

Singapore is one of the most attractive investment destinations in the world. You get world-class financial services, good infrastructure, and a stable business environment. If you are looking for investment opportunities, work with a business registration service for quick company registration.

Read Also:

How to Register Your Company in China Fast

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

View all posts

Doing business in the UAE: pros and cons

The United Arab Emirates (UAE) has a form of federation that consists of 7 emirates with own ruler in each of them. The state is a major financial and economic center, which policy is focused on attracting foreign investment into the country, therefore, the most comfortable and favorable conditions for doing business are created here. The UAE continues to attract investor interest from different parts of the world. Thousands of expats from the US and UK are now migrating to the UAE to explore setting up new businesses and cater to an affluent target audience. If you are looking to set up a new business in the UAE, and are looking at networking and funding solutions, please visit website. The following types of companies are currently available for business registration in UAE: Local companies (where 51% of shares necessarily belong to the citizens of the Emirates or legal entities owned by citizens) – are able to do business without restrictions on the territory. Free zone companies – are able to do business within the chosen free zones or abroad. Offshore companies (International Business companies) – are prohibited to conduct business within the UAE territory, but are able to open an account in the UAE bank. Opening an offshore company in the UAE on the example of RAK free zone: Located in the northern part of the UAE, bordering Oman, Ras al-Khaimah (RAK) is one of the smallest emirates of the UAE. Great interest in the financial and investment sector of this emirate was promoted by new legislation and regulations adopted by the UAE authorities. This, in turn, led to business and investment opportunities for individuals and companies around the world. An International Business Company in RAK free trade zone can do business outside the territory of the country, own property in the UAE, be used as a logistics company, maintain bank accounts, and much more. Basic requirements for opening such a company: the minimum paid-up share capital - 10,000 AED; the minimum number of shareholders – 1; the minimum number of directors – 1; local office requirement – no; annual reporting requirement – no. Required documents for registration: Certified copy of a valid passport (or national identity card); certified address confirmation - utility bill (not older than 1 month) in English or Arabic (or official translation); A letter of recommendation from the bank (not older than 1 month). Advantages of doing business in the UAE: The main advantages include: Absence of income tax and corporate tax; Permitted 100% foreign capital, no need for a local sponsor (except for local companies); There is no requirement for mandatory audit (except for some free-zones and local companies); A high degree of data protection on the ownership of companies; The ability to work in the country (with the exception of offshore companies); The ability to open accounts in local banks without legalizing corporate company documents; The right to obtain a Dubai residence visa or residence visa in other Emirate for shareholders and employees of the company; The possibility of obtaining certificates of tax residency under agreements on the avoidance of double taxation (for free zones and local companies). The ability to obtain a residence visa is one of the main advantages of opening a company in the UAE. It can be obtained by a non-resident individual on the basis of the acquisition of real estate, as well as the registration of a company in the free zone of the UAE. Such a visa is issued for a period of up to 3 years with the possibility of extension and gives the right of permanent residence and work in the country. In addition, UAE banks do not transfer information within the framework of the Common Reporting Standard exchange, if the bank has accounts of companies registered in free zones or personal accounts of shareholders and managers who have resident visas - as they are recognized tax residents of the UAE in the framework of the current legislation of the country. Read Also: Investments 101: How To Choose A Smart Stock Choosing A Quality Prep Center For Your FBA Business

Business

3 Things to Consider When Designing a Company Logo for Your Business

A logo has a significant impact on your customer’s perception of your brand. Careful consideration in its design is therefore necessary. You will want to make your logo outstanding and aesthetically pleasing, but you will also want it to bear your company values. 3 Things to Consider When Designing a Company Logo for Your Business From brainstorming your logo to putting in the design choices, there are things you could put into consideration for the process: 1. Logo Identity that Makes You Unique: The first impression lasts, brainstorming and a good business plan is required when starting a business. Coming up with a business logo and proceeding with an advertisement plan are also both critical processes to consider when designing the logo. Your design and the elements you will include in your logo will have to be viable across platforms. In this respect, you have to carefully and creatively curate your logo identity. You will need to design a logo to be different. You will have to be unique. You can’t compete unless you offer something different but useful. Therefore, make it a point to gather the strength, weaknesses and overall impact of your logo. While you do it, try to identify your competitors in the market too and learn from them. It would be a mistake not to try to get to know the field. Differentiate your logo design from the rest of the businesses in the market or similar pool. From there, realize your impact and compete. 2. Finding a great Designer: A strong logo and branding should couple with great advertising. Start building your dreams by finding a great graphic designer than risking the design on your own. The creation of a logo is just one part it, essential to your plan is to be able to publicize and share it- make it known. In this respect, you should also have the prospect to promote your logo and spread the word about your business through advertising materials. There are lots of options to go for, but for a start, put up signage where you could put up your logo and make it known. Signages will pique the curiosity of your customers, ShieldCo Metal Displays, for instance, will interest them to try out your products or services. Investing in the right advertising is essential as you will be communicating the goals and qualities of your company. Entrusting your design to a team that could guarantee you a good plan will ease you the burden of having to revamp it again should it not work out in the long run, or if it fails to live up to the expectations of the market or that of your promises. Get expert opinions from advertising providers out there or get the services of freelance designers who could give you just the idea of how to work things out with the design. 3. The flexibility of your Company Logo and Design: Your logo must be able to articulate the meaning and logic behind it. It has to convey the symbol and deeper elements in it such as the value, a touch of origins, etc. It must be able to communicate the image of your company. You wouldn’t want to spend so much time trying to explain to your company why your logo appears in a certain way. Your brand strategy must be able to do its way for you. Your visual representation, therefore, must be concise and should describe your brand as a whole. Making your customers continue guessing the purpose it serves is not just a sign of a lousy advertising and marketing but also a bad logo design. Make it a point for your logo to be flexible and instead of complicated or difficult to comprehend will garner more customers. Let your logo be ready to make its way to the big market. Make it marketable. It should be able to blend into different fabrics or materials for advertising, and it should go along with digital advertising, it should be able to translate its presence online. In this case, the design of your logo should also be appropriate for the format online. For example, do not go for a too-tall vertical logo as it would appear inappropriate in the context of web-based business. Conclusion A logo distinguishes a specific company or product and essential to it is the scalability of the logo, its elements, and the branding. Make it the visual image that will distinguish your business in the market by curating it uniquely, dedicatedly, and resourcefully. Read Also: How To Design An Effective Company Website Tips On Building Your Resume For A Website Design Company

Helpful Questions To Ask An Interviewee

Interview questions reveal candidates' skills and personalities. Successful interviews need good questions. Before an interview, prepare and rehearse questions. You will find several sample questions, and what the possible answers might mean as far as insight relating to a potential hire. Of course, there are no ideal answers, but some of the sample questions and answers could help you in finding the right candidate for your open position. Why are excellent interview questions crucial? Interview questions help businesses learn about applicants. An employer may interview candidates after posting a position and evaluating applications and cover letters. Real-time conversations with applicants demonstrate communication, social, and interpersonal abilities. Discover their humor, interests, and personalities. Good questions help you assess a candidate's fit for the position and organization. A successful interview shows prospective employers your professionalism and expertise. This may keep them engaged in the work. Top three interview questions Interviews are great for getting to know a candidate. Employers may evaluate candidates' credentials and job suitability by asking the correct questions. Three great interview questions are: Describe yourself. This question asks candidates about their professional and personal interests. To learn about your interviewee, start with this question. Candidates usually have a response that covers their present job, past position, and professional objectives. Click here to read more about professional objectives and how to best develop one for a resume. This question might set up subsequent, more specialized queries. Your candidate's replies reveal their skills. A succinct yet informative response may indicate a good communicator. They may be good public speakers if they make eye contact and talk confidently. They are likely socially adept if they are courteous. Why do you desire and suit this job? Why they desire the job is a crucial interview question. Their response is an opportunity for them to convey their enthusiasm for the role, as well as their abilities and experience relevant to the responsibilities of the position. An individual must love their job to work hard and enthusiastically. Asking why your applicant is a good match lets them discuss their relevant experiences, abilities, and credentials. This is crucial if the position has complicated, tight criteria. Why work with us? This question tests candidates' understanding of your company's purpose, beliefs, and ambitions. Candidates that have studied your organization before the interview should be able to answer this question confidently. Their response might demonstrate preparedness, detail, and love for your company. Employees must admire their company to work hard. Some of the following questions to ask an interviewee are designed to help allow you find a good fit for the position you’re hiring for. For example, if the potential hire places high value on work being the central focus of their life at the moment, and is interviewing for an executive position, you may see a potential for a good fit in their answer. Your friends and coworkers describe you. This inquiry will reveal your candidate's work ethic and opinions. Characterize how friends and coworkers would describe you as personable, industrious, and detail oriented. What drives you? This question assesses your candidate's dedication to your company. Candidates might discuss their interest in assisting others or expanding their knowledge base, or they can discuss strategies for achieving goals such as making use of established procedures or working in teams, as possible responses to this question. Your greatest professional achievement? This question lets you understand a particular outcome your applicant achieved. They have shown they can meet objectives and produce goods or services. Your biggest strength? This popular inquiry evaluates a candidate's most relevant skill. If they are seeking an administrative job, their greatest strength may be organization, or if they are applying for customer service, communication. Your biggest flaw? This question assesses your candidate's self-reflection. Look for methods they aim to address professional inadequacies in their response. Stress management? Employees must be able to manage and overcome stress to perform difficult tasks, fulfill deadlines, or master new skills. Candidates may suggest taking pauses, deep breathing, or asking for support. Give me an example of your initiative. Initiative-taking, self-disciplined workers who take initiative to fulfill key duties may benefit many occupations. This question might reveal if your applicant is innovative and autonomous. Share a problem-solving (https://en.wikipedia.org/wiki/Problem_solvin) experience. Many jobs need problem-solving abilities, so ask your prospect this. Teachers must remain cool in emergencies since they deal with youngsters. Share a multitasking experience. For organization, planning, and attention, ask your candidate this question. To finish on time, they must recognize their limits and ask for assistance. Tell me about accepting bad feedback. Your candidate must be able to take criticism calmly and respectfully. This inquiry might also reveal your candidate's enthusiasm for work improvement. Collaboration: what works? This question tests teamwork. Respect, patience, and active listening may be their response. Organize how? Most industries need organization. This question may reveal how your applicant organizes and tracks information. Your favorite aspect of this field? This question tests candidates' industry expertise. It is crucial they have researched the topic and know what they could accomplish. What do you dislike about this field? This question evaluates the candidate's understanding of the field's drawbacks and resilience in challenging situations. They have a good work ethic if they see a difficulty and want to conquer it. How does this job match your career? This inquiry might reveal your candidate's job application ambitions. If you want long-term workers, this question is crucial. What is your five-year plan? This question shows a candidate's ability to plan. It also explains their interest in the position. Why did you quit? To examine your candidate's past performance, use this question. Many applicants want a better job or a career move. Of course, tailoring your questions to be industry-specific and job-specific can be helpful, and there is no “one size fits all” approach to interviewing candidates. However, these questions can help you narrow down your possible candidates and get closer to hiring the right candidate for the position. Additional: Notary Business – 5 Ways To Earn Extra Money Reasons Your Business Needs Cybersecurity Solutions How To Make Your Business Stand Out With Custom Merchandise How To Get More Traffic For Your Small Business With Affordable SEO

Why Registering a Company Online Now Becomes Easier

Benefits of Online Registration

Who Can Register a Company in Singapore?