Registering a company in a foreign country can be a pretty daunting process. Many business owners are not privy to specific laws regarding business ownership and registration overseas.
While Singapore is very business-friendly, the registration process can still be very confusing. Individuals that wish to do business in this country should seriously consider hiring a third party organization to complete the company registration in Singapore process for them. An Ltd company is often the type of business individuals choose to establish in Singapore.
What is a Ltd Company?
A private limited company is an organization that does not make their shares available to the public. Generally, stocks in the company are owned by less than fifty individuals.
A Ltd company is the most popular type of company in Singapore for small business owners, primarily because it offers the most flexibility. Because an Ltd company is a separate entity, the shareholders and chief officers hold no liability when it comes to debt and other financial issues. The company itself can borrow money, acquire assets and sue other companies or individuals, if necessary.
If the owner passes away or wishes to transfer the company to another individual or group of investors, a Ltd provides an easy way for this to happen. The shareholders and owners don’t have to worry about any legal issues that other forms of business may have to deal with.
Singapore Company Incorporation Benefits
Individuals who wish to do business in Singapore must register their company with the government. Registering a business as a Ltd in Singapore comes with many benefits:
–Professional Image: An incorporated company always attracts more customers than a non-registered business.
–Tax Incentives: Singapore is one of the most business-friendly countries in the world. As such, the current tax rate for an incorporated business is 9 percent. This is very low when compared to the current corporate tax rate in the United States.
Company Formation Singapore: What to do After Successful Business Registration