Why You Should Set Up A Corporation Abroad

It would be very advantageous to open a Singapore corporation for your business. Singapore's government is very accommodating when it comes to business. They offer plenty of facilities so as to encourage good businessmen to open and cultivate their business in Singapore. This way, it helps their country's economy as well. You'll want to take a closer look though at all that things to go into starting a corporation in Singapore so that you do everything right.

The government of Singapore will give you great tax benefits if you incorporate your Singapore Corporation. These various benefits are what make people want to invest in the first place.

You will be able to choose all of your Directors. You only have to have one citizen as aDirector to be legal. And that one needs to have a permanent residence in Singapore, hold a Work Pass for Singapore, or be a citizen of the country. What sets it apart from many others is that this shareholder only has to have a minimum of 1 and a max of 50.

The easiest part of the process is setting up the Singapore Corporation. There are the basic documents that they require like a company profile and their goals of what they want to do and accomplish, who the shareholders and Directors will be, as well as the company's secretary. All of the people need to present their passport or photo ID, proof of address, Articles of Association for the Company, and Memorandum. It only takes two easy steps to complete the registration too. You just need to get the name approved, which really only takes a few hours, and then turn in the documents mentioned above after the name has been approved.

A few hours is all the registration should take, if all of the necessary documents turned in are complete. You will be contracted through email if the incorporation is completed. However, if you use another external agency, then it may take up to 2 weeks to complete registration.

What's great about Singapore's liberal government is that there are no restrictions on what type of business someone opens and there's one hundred percent ownership of the foreign individuals.

They will even let the Directors of the Singapore Corporation do business from their own country while visiting on occasion with a Work Visa. If they do this though, they will need to hire a Resident Director to run things. The Director decides if they want to give this Resident Director any ownership in the company.

Another advantage to opening a Singapore Corporation is that there doesn't have to be an office physically in Singapore. This is a great bonus if there is a budget to meet. A local address will be needed to make the necessary correspondences though.

Singapore's Government is very welcoming for businesses that relocate to Singapore. They will gladly provide you with a Work Visa. You will need one of two kinds of Work Visa. One is called the Singapore Employment Pass. It is for businessmen who have been educated at a University. The other is called a Singapore Entrepreneur Pass. These are for those who do not have the educational background, but are still experienced businessmen.

With all of the benefits and advantages that Singapore has to offer, it's no wonder why many businesses are setting up a Singapore Corporation.