A company is a legal entity that has its own legal status separate from the individuals who own and run it. A company has many of the same rights as a human being, such as the ability to enter into contracts and sue (or be sued), pay taxes, own property, hire employees, and borrow money. Companies are generally organized to earn a profit and contribute to the economy of a country.
Registering a company in Singapore is a simple process that can be simplified even further by hiring the right company incorporation service. The services of a professional will make sure that all the necessary documents are filed with the proper government agency and that they are in order. This will ensure that the entire process is handled smoothly and that no errors are made.
The process of incorporating a company in Singapore begins with selecting the name for your business. This must be unique, catchy, and easy to read. It must also be free of obscene words and cannot infringe on any existing trademarks. Your Singapore company incorporation service provider will help you choose a name that will meet all of these criteria.
The next step is to draft the company constitution and have it approved by ACRA. This will require the assistance of a qualified lawyer who specializes in Singapore company registration. Once this document is completed, it will need to be signed by all the directors and shareholders of the company. This must be done in the presence of a notary public. Once the documents are ready, your Singapore company incorporation service will file them with ACRA. Lastly, your company will need to open its bank account. This is usually a simple process, but some banks may require supplementary documentation on a case-by-case basis. how to incorporate a company in Singapore