1,095 Views
Economically, Singapore is one of the strongest countries. It has a large industrial base, significant agricultural resources, and a highly skilled workforce. It has a competitive market that offers interesting business opportunities to foreign investors. The registration of the company in Singapore is carried out by the cheap Singapore company formation.
Business structure: the type of legal entities that can be created in Singapore, as described below:
- Limited Liability Company (SARL): This is the most common type of company in Singapore. A minimum of one shareholder is required to register. The shareholder’s liability is limited only to the number of contributions. The minimum share capital must be 1 euro.
- Public Limited Company / Sociedad Anónima (SA): A minimum of seven shareholders are required to form a company of this type. The minimum share capital must be 37,000 euros, of which at least half must be paid up. The obligations of the shareholders increase up to the limit of their contribution to capital.
- Simplified Stock Company (SAS): this type of company requires at least two shareholders and a president. The shareholder’s liability is limited to the size of their capital contribution. The minimum share capital must be 37,000 euros. A board of directors is not required to create this type of business.
- Full Partnership (SNC) – Two partners are required to create this type of organization. Both partners are jointly and severally liable for the debts and obligations of the company.
- Sole proprietorship limited liability company (EURL) – This is a hybrid of a limited liability company and partnership. For companies of this type, the minimum authorized capital is not required. In the case of outstanding debts, the personal assets of the owners are not protected.
Registration procedure:
- The first and most important step is to verify the availability of the name on the website of the National Institute of Industrial Property (INPI). If available, the INPI issues the reserve certificate and the entity can continue with operations.
- The next step is to open a bank account and deposit the initial capital required for registration.
- The next step is to apply for registration at the Center de Formalites des Entreprises (CFE).
- After submission of the application, documents such as bylaws, bank certificate confirming the amount of the deposit, confirmation that the particular newspaper has received notification of the establishment of the new company, the structure of the proposed organization and its purposes, the board The address and the chosen address for the company should be sent.
- After receiving the application, the CFE sends the necessary information to each office and agency to register it and registers the company in the National Registry of Companies.
- Upon registration, the company will receive the numbers SIRENE (Computer system for the business repertoire), SIRET (Computer system for the business repertoire) and NAF (Nomenclature of French activities).
