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What Are The Requirements For Registering A Company In Singapore? by Samuel Myers Tax exemptions and appealing incentives are given by Singapore to business people who put up their businesses in the country. Due to this motivators, Singapore is a country known to attract many foreign corporations looking for a base of operations in Asia. A large number of companies operating in Singapore belong to the private limited company type. Company registration laws in Singapore state that anyone - foreigner or a Singapore national - who is above 18 years old is qualified to register a private limited company. As with other countries, Singapore has a set of guidelines for the registration of a private limited company. The following are some of the requirements that need to be met by entrepreneurs who wish to establish business in Singapore. This list addresses the basic requisites, the steps, as well as some things that you could encounter when registering your private limited company in Singapore. 1. Business people planning to set up business operations in Singapore must engage the services of a Singapore-based professional firm that can act as a go-between for the registration process. Singapore does not allow foreign entrepreneurs or entities to register a company by themselves. 2. There have to be at least 1 person who will be designated as resident director for the private limited company. In this context, a resident is person who is a Singapore citizen, who could either be a natural-born citizen or an individual given by Singapore any of the work permits for foreigners. 3. A business enterprise being registered as a private limited company is required by Singapore regulations to have at a minimum of one and at a maximum 50 shareholders. 4. A private limited company has to have a physical address in Singapore and not a PO Box when applying for registration. 5. On the granting of the registration, the private limited company can apply for a corporate bank account in Singapore. This procedure necessitates the company owners and principals to be physically present in Singapore. Bank regulations necessitate the principal's physical presence for this certain process. 6. Upon registration of a new private limited company, the administrative agency in Singapore will evaluate its nature of business to determine if it will also need a business license to operate. Once everything is set, your corporation will now be ready to offer its services to people in Singapore. GST Singapore - Visit today to get efficient accounting services from business accountants based in Singapore.. This article, What Are The Requirements For Registering A Company In Singapore? has free reprint rights.