How do I legally register my business?
I believe that all businesses either big or small should be registered legally. This is to ensure not only the safety of the company but also the customers. I'm a young entrepreneur and I want to register my new business here in Singapore. What are the correct procedures in registering my business in Singapore?
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At least one Singapore resident must be appointed as the director of the company. Singapore companies are allowed to have 100% local or foreign ownership. New shares can be issued or existing shares can be transferred to another person after the company has gone through the incorporation process. There are no capital gains or dividend taxes on Singapore companies. The procedures for company registration is fully computerised by ACRA (the Accounting and Corporate Regulatory Authority) in Singapore. Usually, a company can be incorporated in 1-2 days.